India: Verlinvest, DSG Consumer invest $6.6m in Drums Food

Belgium-based investment firm Verlinvest and early stage investor DSG Consumer Partners, have led a Rs 44.5 crore ($6.6 million) funding round in yogurt and ice cream maker Drums Food International.

Mumbai-based Drums Food manufactures the Epigamia brand of Greek yogurt and the Hokey Pokey brand of premium ice cream.

Its existing investors Fireside Ventures, TPG Growth India Head Vish Narain, Salarpuria Group scion Apurva Salarpuria, and crowd funding platform Ketto also participated in the Series A round.

Founded in 2008 by Rohan Mirchandani, chef Ganesh Krishnamurthy and Uday Thakkar, Drums Food plans to use the capital towards acquiring talent, and investing in its supply chain and increasing production capacity.

“We are in the process of scouting for a location, somewhere in north India, for a new production plant,”  Mirchandani, CEO of Drums Food told DEALSTREETASIA. At present, the company manufactures out of its facility in Mumbai.

The funding will also enable Drums Food International to strengthen its direct distribution and automated sales process model. Drums Food plans to increase its presence to newer cities as well. At present,  Epigamia, its Greek yoghurt brand, is available in Delhi, Mumbai, Bengaluru, Chennai and Hyderabad.

The round marks DSG Consumer Partners’ first investment with Verlinvest, a few months after the Belgian investor participated in DSG Consumers latest $35-million fund. In an interview to DEALSTREETASIA, Deepak Shahdadpuri, Managing Director, DSG Consumer Partners had said “Verlinvest has put in as much weight as the opportunity to co-invest as they have in wanting to back me as a fund manager, because they have done a lot of deals with me, they love consumer businesses, but their minimum investment is $15-20 million. Their view is for us to go and build the business and invest in Series A,B and C, but series D comes in then they can co invest with us.”

“This investment represents our first co-investment alongside DSGCP and fits well within our partnership to be a long-term supporter of young brands and talented entrepreneurs in growing categories in India,” said Nicholas Cator, Executive Director, Verlinvest.

The India and Southeast Asia-focussed fund recently invested juice brand Raw Pressery in a $4.5-million funding round along with Sequoia Capital and Saama Capital.

Also Read:

Early stage investor DSG Consumer gets backing for larger rounds in Fund II: Deepak Shahdadpuri

India: Rakyan Beverages raises $4.5m Series B from Sequoia, Saama Capital & DSG Consumer

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.

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.