Haldiram’s invests in Venture Catalysts, aims to strengthen investment in CPG sector
Sweets and snacks manufacturer Haldiram’s has partnered with seed and angel investor Venture Catalyst for an undisclosed amount with an aim to boost and facilitate startups in the consumer packaged goods (CPG) sector.
The funds have already been strategically allocated to strengthen the team, processes and presence of Venture Catalysts to ensure the creation of an ecosystem built to suit the needs of the CPG industry, said a press statement.
Commenting on the investment, Venture Catalysts founder, Dr Apoorv Ranjan Sharma said, “The alliance with Haldiram’s sets a benchmark for other enterprises to enter into active collaborations that look to empower the startup ecosystem. The Haldiram’s growth story and the way in which they have built an empire from the ground-up, is the ideal example that we want to set for the enterprises that are a part of the VCats set-up right now.”
According to the press statement, the Consumer Packaged Goods sector, comprising goods consumed every day by the average consumer, has shown significant growth potential in the Indian market, and the current association aims to utilise this opportunity.
The collaborative model is highly customised and will vary from startup to startup depending on what the requirement is for all the teams involved.
A Haldiram’s spokesperson said, “We have always strived to focus on identifying market opportunities and make the best use of them through product diversification and listening to the consumer intently. We want to share the knowledge acquired over the years and contribute to the burgeoning start-up ecosystem in the country. The current generation of Haldiram’s looks forward to this alliance and is very upbeat about encouraging more such collaborations in the future.”
Post this collaboration, Venture Catalysts plans to invest in 10-15 relevant CPG startups in the next 12-24 months and build strong startup stories such as men’s grooming brand Beardo, female hygiene start-up PeeSafe, and India’s first herbal energy shot drink FYRE, the statement added.