Comments
Truefarm Foods India, a 100 per cent organic food company, on Sunday said it was looking at raising around ₹100 crore in the next 18-24 months from private equity investors to finance its expansion plans.
“We are having talks with private-equity investors to raise around ₹100 crore in the next 18-24 months to fund our expansion and marketing plans. We have set up Truefarm nearly two years back and is now ready to roll-out wide range of product offerings including pulses, superfoods, spices & nuts, breakfast, flours and sweeteners,” Truefarm Foods Director Ravi Jakhar said.
The company has already tied-up with Reliance Fresh and other leading retail chains and aims to achieve a turnover of ₹25 crore in the very first year of commercial operation, Jakhar said adding that the target is to achieve turnover of ₹100 crore by December 2019.
“Over the past 18 months, we have invested in capacities, firmed up our products lines and forged distribution partnerships with global retailers including Walmart and Amazon. We are also targeting global consumers across key markets including India, UK, Singapore and USA,” Jakhar said.
Truefarm aims to replace most of the food items in daily diet with healthier, chemical free, nutritious and delicious organic alternatives. The company has also appointed Ian Marber, a leading nutrition expert in UK as Director. The company has also engaged with farming communities across the world to cultivate 100 per cent organic crops.
The country’s organic foods market is estimated at ₹1,500 crore and is expected to double to ₹3,000 crore in the next three years. The world organic market is estimated at $100 billion.
“The company aims to replace most of the food items in daily diet with healthier, chemical free, nutritious and delicious organic alternatives.”
“We are looking at reducing carbon footprint and eliminating diseases caused by toxins and chemicals in our food. The company see it as its responsibility to restore ecological balance which has been disturbed by centuries of exploitation and contamination of resources such as soil and water by use of chemicals,” Jakhar added.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.