Haldiram’s is one of India’s major sweets and savories brands. It has now decided to step into the startup scene. It has partnered with Venture Catalysts in a move to capitalize on the growth rate of the CPG sector.
Bengaluru: 82-year old Haldiram’s has taken its first step into the Indian startup arena. It has invested an undisclosed amount in integrated incubator Venture Catalysts (Vcats). This association plans to gain on the current unprecedented growth rate of Consumer Packaged Goods (CPG).
Founded in 1937, Haldiram’s is synonymous with ethnic Indian spices and sweets. It specializes in dealing with the CPG sector and has seen huge profits rolling in, for the past couple years.
CPG is a sector which has seen growth coming in leaps and bounds. Its market value is estimated to be $50Bn and is growing at a rate of 7-10%. In a country with a young population spending huge amounts on this sector, CPG presents a multitude of opportunities for young startups. Capitalizing on this, both the firms have undertaken this partnership.
This will ensure the creation of an ecosystem built to suit the needs of the CPG industry. The alliance with Haldiram’s sets a benchmark for other enterprises to enter into active collaborations that look to empower the startup ecosystem.
– Apoorv Ranjan Sharma, founder, Vcats
Haldiram’s and Vcats Association
Vcats would be in a position to leverage the CPG firm’s decades-old expertise in this sector. This would help them achieve a strong footing in the market and create better consumer understanding in the CPG arena.
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Moreover, Haldiram’s involvement would give Vcats’s startups’ confidence and resource opportunities. This would help boost their growth and provide them with better scaling chances. The food giant built themselves an empire from the group up. Therefore, Vcats believes that their story could be an example-setting one for the enterprises under it.
The incubation platform plans to invest in 10-15 relevant CPG startups in the coming years. The savories brand has already started shortlisting startups for this.