Truefarm Food Aims To Raise INR 100 Crore By 2019
The 100 percent organic food company, Truefarm Foods is aiming to raise Rs.100 crore in the coming 18-24 months through private equity investors says a report by the Economic Times. The company has tied-up with retails chains like Reliance Fresh and aims to get Rs. 25 crore turnover within the first year of commercial operation.
High Targets For Truefarm
“We are having talks with private-equity investors to raise around Rs 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 & sweeteners,” Truefarm Foods director Ravi Jakhar told the Economic Times.
“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 added. Other goals of Truefarm include replacing most of its food items which are used in daily diet with healthier, chemical free, nutritious and delicious organic alternatives says the report.
To do so, the company has reportedly engaged with farmers across the globe so that 100 percent organic crops can be grown. The report further says that India’s organic food market is being estimated at Rs. 1,500 crore and in the next three years is expected to double to Rs.3,000 crore. “The company aims to replace most of the food items in daily diet with healthier, chemical free, nutritious and delicious organic alternatives,” said Jakhar while talking to the Economic Times.
“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.
Image Source: True Farm Foods