Chandigarh-based Chatha Foods Pvt Ltd, a frozen and ready to eat (RTE) processed meat products firm, has received an undisclosed amount in funding from Rajasthan Venture Capital Fund (RVCF).
RVCF has picked a significant minority stake through its SME Tech Fund, which invests pan India in IT/ITes, education, healthcare, agro products, and other high growth sectors.
Paramjit Chatha, founder of Chatha Foods, said, “The company has been witnessing high growth from both its institutional clients, including the leading quick service restaurants (QSRs) in India and at the retail market where the demand for high quality and innovative RTE chicken products is high. The capital infusion will help the company increase capacities, introduce newer products and service the QSRs more efficiently.”
BMA Capital was the financial advisor to Chatha Foods in the transaction.
Chatha Foods retails a variety of RTE and frozen meat products under the brand Swiss Naturen. It is also the largest supplier of frozen chicken products to Domino’s, Subway, Papa John’s and several other leading QSRs in India.
Girish Gupta, CEO, RVCF, said, “The company has tremendous experience in its sector and with the funding it will be able to emerge as India’s leading supplier of high quality frozen meat products to QSRs as well as the retail market.”
In this space, last year GTI Capital infused an undisclosed amount in Delhi-based Brattle Foods. Early last year, GEM India Advisors (GIA) and former Goldman Sachs' partner Hank Uberoi's fund Haystack pumped in Rs 14 crore in Bakers Circle (India) Pvt Ltd, a maker of frozen bakery and confectionery products. These companies also cater to QSRs.
(Edited by Joby Puthuparampil Johnson)