India: GVFL invests $4.6m in ready-to-fry snacks maker Chhajed Foods

By Bhawna Gupta

June 15, 2017

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.

Also Read:

India: Video analytics startup Vidooly raises $1.4m from GVFL

Exclusive: GVFL invests $4.6m in Ahmedabad-based Varmora Plastech

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.
APPLY NOW

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.
APPLY NOW