Mumbai, Jan 14 (PTI) Truefarm Foods India, a 100 percent organic food company, today said it was looking atraising around Rs 100 crore in the next 18-24 months fromprivate equity investors to finance its expansion plans.
"We are having talks with private-equity investors toraise around Rs 100 crore in the next 18-24 months to fund ourexpansion and marketing plans. We have set up Truefarm nearlytwo years back and is now ready to roll-out wide range ofproduct offerings including pulses, superfoods, spices & nuts,breakfast, flours & sweeteners," Truefarm Foods director RaviJakhar told PTI here.
The company has already tied-up with Reliance Freshand other leading retail chains and aims to achieve a turnoverof Rs 25 crore in the very first year of commercial operation,Jakhar said adding that the target is to achieve turnover ofRs 100 crore by December 2019.
"Over the past 18 months, we have invested incapacities, firmed up our products lines and forgeddistribution partnerships with global retailers includingWalmart and Amazon. We are also targeting global consumersacross key markets including India, UK, Singapore and USA,"Jakhar said.
Truefarm aims to replace most of the food items indaily diet with healthier, chemical free, nutritious anddelicious organic alternatives. The company has also appointedIan Marber, a leading nutrition expert in UK as Director. Thecompany has also engaged with farming communities across theworld to cultivate 100 per cent organic crops.
The country's organic foods market is estimated atRs 1,500 crore and is expected to double to Rs 3,000 crore inthe next three years. The world organic market is estimated atUSD 100 billion.
"The company aims to replace most of the food items indaily diet with healthier, chemical free, nutritious anddelicious organic alternatives".
"We are looking at reducing carbon footprint andeliminating diseases caused by toxins and chemicals in ourfood. The company see it as its responsibility to restoreecological balance which has been disturbed by centuries ofexploitation and contamination of resources such as soil andwater by use of chemicals," Jakhar added. PTI APNSK.
This is unedited, unformatted feed from the Press Trust of India wire.