Mumbai: iD Fresh Food India Pvt. Ltd, a Bangalore-based ready-to-cook packaged foods company, announced on Friday that it has raised 35 crore in funding from Helion Venture Partners.

Rahul Chowdhri, partner with Helion, will join the company’s board.

The company will use the funds to expand to 30 cities in the next five years and to double the number of outlets it is sold from. It currently sells from 6,000 outlets across eight cities. The company will also look at introducing more products.

“Ready-to-cook is a very unique category in the F&B (food and beverages) segment. There is great consumer appetite for authentic and nutritious Indian food in these times across customer segments. With strengths in distribution system and our backend technology, we have perfected the ‘zero-inventory’ model, making sure to reach daily supplies to retail stores based on demand; keeping products fresh and as good as home-made," Musthafa PC, chief executive officer with the company, said in a statement.

The company was started in 2005 by Musthafa, Shamsudeen TK, Abdul Nazer, Jafar TK and Noushad TA. It sells idli and dosa batter, chutneys and chapatis. The company says it clocks revenues of 7 crore each month.

The Indian ready-to-eat food market is projected to grow at a compound annual growth rate of 21.99% during 2014-19, according to the India Ready-to-eat Food Market Forecast & Opportunities, 2019 report by TechSci Research, a global market research company.

Close