MTR Foods to Invest in Early Age Startups, Announces Rs 50 crore Fund

It has also invested in Bengaluru-based children food manufacturer FirmRoots, in which the company picked up 42% stake.
  • Nusra Deputy Features Editor
MTR

Packaged food company MTR Foods has announced Rs 50 Cr fund to invest in early stage food processing startups.

“The face of the Indian food processing industry is redefined by the startups. We want to now clearly participate in this market,” shared Sanjay Sharma, CEO, MTR Foods.

The Bengaluru based company plans to be a minority partner in its every investee.

It has also invested in Bengaluru-based children food manufacturer FirmRoots, in which the company picked up 42% stake.

“We keep evaluating many more options (for investment) which come true in this way. We are in the process of investing in a couple of other startups,” added Sharma.

MTR Foods claims to have generated a revenue of about INR 900 Cr. in 2018, and aims to  reach INR 100 crore mark in 2019. The company has been consistently growing at 14% CAGR for the past five years.

MTR on Wednesday launched two unique products- Masala Karam for use in everyday cooking, and Saviyan Upma- under three-minute breakfast category.

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