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Impeccable seeks more funds to fuel gluten & sugar free products growth
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Tuesday, 21 January, 2020, 08 : 00 AM [IST]
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Nandita Vijay, Bengaluru
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Impeccable Innovations, a food startup, is now in talks with investors to fuel its next growth phase. The company, which has researched and developed four products, has garnered the attention of consumers keen to take on the path of disease control and preventive health.
The Bengaluru-based company’s four products include Sportify, which is a gluten-free multigrain flour. Then there are sugar-free chocolates named as D: Junk, which have been appreciated during soft launches at retail outlets. MereVala lime, chilly and mango pickles has tickled the taste buds of consumers. And then there is cold pressed mustard oil trademarked 'Terve,' which in Finnish means healthy.
Elaborating further while speaking to FnB News, Arnab Guha, founder director, Impeccable Innovations Pvt. Ltd (IIPL), said, “We have come this far. Now our next phase of growth envisages a larger production plant, strengthening research and expanding the marketing network. There are also a couple of new products underway. One is the idli-dosa powder mix expected in March and the other is the plant-based mock chicken by June this year.”
He added, “Hence discussions with private equity and venture capitalists have begun. Although we are bootstrapped company, in order to further innovation and disruptive product development besides market reach, fund infusion is needed. There is considerable interest evinced for our products and the technology for which patent is pending.”
Guha explained, “We are a four-year-old startup moving on the fifth year of existence.” Guha describes it as surviving the 'death valley curve' in business as “We have begun to generate revenues to sustain operations.”
He pointed out, "Sportify has been in the market for the last 7-8 months and is positioned to target the Celiac disorder section of the population. This is an immune disease causing gluten intolerance. This condition is seen to be on the rise globally and India accounts for one per cent of this condition. Hence, the product is seen to catch the attention of the people. D:Junk and Mere Vala pickles are still in infancy but gaining ground."
All the products are available in retail and chemist outlets at Bengaluru's Whitefield area, primarily, The Celiac Store, New Delhi, and the NCR region. The company has been conducting awareness and product usage demonstrations to enable consumers understand the importance of this dedicated line-up of gluten-free and sugar-free products that could help people lead healthy lifestyles.
Convincing the consumer is core to our marketing strategy. In an age of whole wheat and organic wheat, consumers need to be persuaded and we need to prove the value of our product. This is where Guha who is a post-graduate in food science and technology, with stints at Britannia and Novozymes in the role of global project leader, sees that candid labelling on packs drives enquiries and that convert into sales. “This is true of Sportify which even is priced at Rs 360 per kilo, consumers are willing to repurchase. But efforts are on to bring down the price as volumes increase.”
At this point in IIPL, which is deep into science-based development and marketing is engaged with investors to highlight the team's capability and product USP (unique selling proposition). Food research and processing startup business is ridden with a long gestation period unlike information technology early stage companies. “Hence investors fund when they gauge our performance in the market. IIPL is now poised to embark on its next phase of growth,” trailed off Guha.
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