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Haldiram Snacks Pvt. Ltd invests an undisclosed amount into incubation platform Venture Catalysts.
Venture Catalyst plans to invest in 10-15 relevant startups in the packaged consumer goods category by next year.
Venture Catalyst invests between $250,000 and $1 million in early-stage startups.
Ethnic sweets and snacks specialist Haldiram Snacks Pvt. Ltd invests an undisclosed amount into incubation platform Venture Catalysts. Haldiram infused this amount to facilitate more investments in the packaged foods segment. Venture Catalysts is planning to use raised funds and guidance from Haldiram to achieve a much stronger foothold in evaluation, identifying market opportunities, evaluating its investments in the segment and monitoring concerned to industry.
Haldiram is going to be a major investor in the startup and get connected to the investors. According to Anuj Golecha, co-founder of Venture Catalysts, “Collaboration with Haldiram is going to benefit an existing portfolio of customers.”
Venture Catalyst a Mumbai based incubation platform came into action in December 2015 by Anuj Golecha, Apoorv Ranjan Sharma, Gaurav Jain, and Anil Jain. It invests between $250,000 and $1 million in early-stage startups. It has recently invested in several startups including environmental intelligence startup Ambee, bike-sharing app Mobycy, diaper maker Superbottoms, virtual trial room startup Try & Buy, medical-technology startup iNICU and operating system maker PrimeOS. In next year or two, it is planning to invest in 10-15 relevant startups in the packaged consumer goods category.
Haldiram came into action in 1937 in Rajasthan by Shivkisan Agrawal. The company has covered each corner of India and has its presence in 50 countries of the world including Thailand, UK, US, Japan, Srilanka, New Zealand, Australia, and UAE. The firm offers namkeen, savory items, and chips, among other items. In the past three years company has done several acquisitions in namkeen and snacks segment including Dreamcann Foods Pvt. Ltd, Indore based Aakash Namkeen and Lamba Food Products.
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