Packaged food company MTR Foods Pvt. Ltd. today announced its first investment from its Rs 50 crore seed fund in early-stage startup FirmRoots Pvt. Ltd., for its brand Timios.
Along with the investment, MTR Foods will also mentor the young brand on various aspects of the business, including marketing, sales and distribution strategy, food safety standards, management of resources among others.
The Bengaluru-based packaged foods company Timios was started by Aswani Chaitanya and Hima Bindu as a solution towards age-appropriate nutrition. Its products range is exclusively for infants and children, from the age of six months up to 12 years.
The company claims that the products are 100-percent natural and suitable for children as they are free of artificial flavours, colours and excessive salt and sugar. Its product line includes multi-grain munchies, all-natural energy bars, Crunchies - breakfast cereal, Melts – finger food for toddlers etc.
In a statement, Sanjay Sharma, CEO, MTR Foods Pvt. Ltd said, “As the first investment from the seed fund - FirmRoots Pvt Ltd. is a great start, as the company has brought forth a range of snacking products that are apt for the nutritional needs of children – a space that is hitherto untapped. We are pleased to be their partner in their journey.”
Aswani Chaitanya, Founder, Timios added, “MTR Foods is one of the few heritage brands in the market that have stayed relevant even after close to 100 years of being in the business. Along with the investment from the MTR Seed Fund, we will also value the mentorship and strategic advice given by them. In a short period of time, Timios has managed to become a brand known in the market for its honest, healthy products that are great for the snacking needs of children. The funding would be primarily used for development of our range within the Timios brand and for expansion into other geographies. This investment will surely provide us with the strategic support required to grow further.”
MTR Foods Pvt Ltd launched its seed fund in 2017 with the objective to mentor and invest in food-related startups in India over the next two years. The company will invest and have a stake ranging between 26 percent and 49 percent in the startups. Startups that become part of the MTR Seed Fund will have access to MTR Foods research and discussion team, as well as to the company's in-house group of chefs or common services such as branding, legal assistance, treasury, and accounting services.