Ahmedabad-based snacks maker Chhajed Foods Pvt Ltd has raised Rs 30 crore ($4.67 million) from venture capital firm GVFL Ltd (formerly Gujarat Venture Finance Ltd), DEALSTREETASIA has learnt.
Founded in 1979, Chhajed Foods offers a range of ready-to-fry (RTF) snack pellets under two broad categories, cereal based Pellet (Paan iPuri) & potato based pellet, and its products are sold under the brand name ‘FRYLO’ and ‘PUMPUM’.
Chhajed Foods markets its products under two brands — ‘Frylo’ for its retail dealers of ready-to-fry snack pellets and ‘Pumpum’ for its institutional production of ready-to-fry snack pellets.
Mumbai-based investment banking firm JR Laddha Financial Services Pvt Ltd acted as the financial adviser for the deal.
GVFL has backed quite a few companies this year, including Sequretek IT Solutions Pvt Ltd, Varmora Plastech Pvt Ltd and video analytics start-up Vidooly.