iD Fresh Food Earned INR 479 Cr By Selling Idli & Dosa Batter In FY23
iD Fresh Food, a Bengaluru-based startup known for its idli and dosa batter, earned INR 479 Cr in revenue by selling its batter in the financial year 2022-23 (FY23). This represents a 26% increase in revenue from the previous year.
The startup’s revenue from batter sales accounts for 40% of its total revenue. iD Fresh Food also sells other ready-to-cook food products, such as parotta dough, chutney, and sambar.
iD Fresh Food’s growth in FY23 comes amid the ongoing funding winter, which has forced Indian startups to focus on profitability in the absence of fresh external capital. The startup last raised INR 507 Cr ($68 Mn) in its Series D funding round in January 2022.
The company’s profitability has also improved in FY23. Its net loss narrowed over 50% to INR 328.8 Cr, down from INR 703.7 Cr in the previous year.
iD Fresh Food’s success is attributed to a number of factors, including:
- Quality products: The company’s batter is made from fresh, high-quality ingredients and is fermented for a longer period of time, which gives it a better flavor and texture.
- Convenience: iD Fresh Food’s batter is ready to cook and can be made in minutes. This is a boon for busy consumers who don’t have the time to make batter from scratch.
- Availability: iD Fresh Food’s batter is available in over 100,000 retail stores across India. This makes it easy for consumers to find and purchase the product.
The company is also expanding its product portfolio and reach. It recently launched a new range of frozen snacks and is planning to enter new markets like the Middle East and the United States.
iD Fresh Food’s success is a testament to the growing popularity of ready-to-cook food products in India. Consumers are increasingly looking for convenient and healthy food options, and iD Fresh Food is well-positioned to meet this demand.
Impact of iD Fresh Food’s success on the Indian economy
iD Fresh Food’s success is having a positive impact on the Indian economy in a number of ways.
- Creating jobs: The company employs over 3,000 people directly and indirectly. It also sources its ingredients from local farmers, which helps to support the agricultural sector.
- Boosting GDP: iD Fresh Food’s revenue contributes to India’s GDP. The company also pays taxes to the government, which helps to fund essential public services.
- Promoting healthy eating: iD Fresh Food’s products are made from fresh, high-quality ingredients and are free from artificial preservatives. This helps to promote healthy eating among consumers.
Overall, iD Fresh Food’s success is a good thing for the Indian economy. The company is creating jobs, boosting GDP, and promoting healthy eating.
Future outlook for iD Fresh Food
iD Fresh Food is well-positioned for continued growth in the coming years. The company has a strong brand reputation, a loyal customer base, and a growing product portfolio.
The company is also expanding its reach into new markets. It recently launched its products in the Middle East and is planning to enter the United States market soon.
In addition, iD Fresh Food is working on developing new products, such as frozen snacks and ready-to-eat meals. This will help the company to further expand its customer base and revenue.
Overall, the future looks bright for iD Fresh Food. The company is well-positioned to capitalize on the growing demand for ready-to-cook food products in India and around the world.
