Journey to a global Basmati brand; Uniphore lifts weekly VC inflow
DRRK Foods, founded in 1967, now exports Crown Rice to 14 international markets. Venture capital funding into Indian startups continues to remain dependent on large deals. ILSS has partnered with Harish and Bina Shah Foundation to launch the Harish and Bina Shah Centre for Talent and Leadership.
Hello,
Curefoods is set for its market debut.
The cloud kitchen startup, which operates several brands such as EatFit, Sharief Bhai Biryani, and Nomad, has received approval for its Rs 800 crore issue from market regulator SEBI.
The IPO will consist of fresh issuance of shares worth Rs 800 crore and an offer for sale of 4.85 equity shares by existing shareholders. However, founder Ankit Nagori will not participate in the issue.
In other news, Ferrari has found a way to connect with a new generation of younger techpreneurs: digital tokens.
The luxury carmaker is working with Italian fintech Conio to launch the 'Token Ferrari 499P' for its most exclusive clients to trade and bid on a Ferrari 499P, the endurance car that won three straight Le Mans titles.
Lastly, amid the hullabaloo over the Louvre heist, a photo of a well-dressed man in a fedora outside the museum went viral as it caught people’s imaginations and had them speculating whether he was a detective on the case, owing to his noir detective aesthetic.
Close enough, welcome back Detective Clouseau!
In today’s newsletter, we will talk about
- Journey to a global Basmati brand
- Uniphore lifts weekly VC inflow
- Empowering leaders in India’s social sector
Here’s your trivia for today: In which country was volcano boarding invented?
SMB
Journey to a global Basmati brand
In 1967, during the early years of India’s Green Revolution, Daulat Ram Marwaha and his son, Mohinder Pal, laid the foundation for what would become one of Punjab’s most enduring rice enterprises.
Over time, that humble trading venture evolved into DRRK Foods (Daulat Ram Ramesh Kumar), the company behind Crown Rice—a name now synonymous with premium basmati rice that reaches consumers across India and more than a dozen international markets.
Revamping legacy:
- Today, exports contribute nearly 70% of DRRK Foods’ total business. The company currently supplies to about 14 international markets and has over 200 B2B clients. Its international clientele includes major retail groups such as Lulu, Majid Al Futtaim, Ramez, Ansar, and Nesto.
- Crown Rice’s product line revolves around traditional basmati varieties such as 1121 and 1509, catering to both consumer and institutional segments.
- DRRK Foods employs 153 people and has maintained a 20–25% CAGR in recent years. With new capacity coming online, the company aims to achieve a Rs 2,500 crore turnover by FY27.
Funding
Uniphore lifts weekly VC inflow
The presence of single large deals is lifting the overall momentum of venture capital funding into the Indian startup ecosystem. Without these transactions, the overall amount raised weekly would have been smaller.
This pattern has been observed over the last three weeks. Large funding deals by Zepto ($450 million), Dhan ($120 million), and Uniphore ($260 million) are making all the difference. While such large deals are good for the startup ecosystem, they also reveal the overall funding momentum that remains subdued.
Funding spike:
- The total funding amount for the fourth week of October stood at $347 million across nine transactions. In contrast, the previous week saw a total of $763 million raised. This fall in VC funding is mostly due to large deals.
- During this week, there were just three pre-Series A funding deals, and the lower number of transactions could be attributed to the festive holiday season of Diwali.
- Nonetheless, the overall funding momentum remains subdued, as it is these one-off large transactions that provide a lift. However, there has been no sustained capital inflow into the ecosystem across other funding stages, especially in the growth category.
Social Impact
Empowering leaders in India’s social sector
To address the non-profit sector’s most pressing challenge—a persistent shortage of skilled leadership—the India Leaders for Social Sector (ILSS), in partnership with the Harish and Bina Shah Foundation, launched the Harish and Bina Shah Centre for Talent and Leadership in August.
In an interview with SocialStory, Anu Prasad, Founder of ILSS, and Harish Shah and Bina Shah of Harish and Bina Shah Foundation, talk about the partnership, CSR funding, and the leadership gap in India’s social sector.
News & updates
- Diverging spending: Procter & Gamble beat estimates for its quarterly results on Friday, as consumers continued to pay higher prices for its beauty and hair-care products, despite a broader slowdown in spending due to economic uncertainty.
- Downgrade: The US was cut by one notch at Scope Ratings after more than three weeks of Washington stalemate over government spending triggered action by the European credit assessor.
- Resurfaced: A painting by Spanish artist Pablo Picasso, believed to be depicting his muse and partner Dora Maar, fetched $31.49 million at a Paris auction on Friday. The work was acquired by a French family in 1944 and remained in their private collection for decades until its heirs decided to sell it.
In which country was volcano boarding invented?
Answer: Nicaragua.
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