Hungry Foal is making Nutrition tasty and affordable
16th, November 2017 - Social enterprise
Good food is good mood. But how many of us really give food the respect it deserves. We waste food and don’t even regret that. There are many people out there who are deprived from food. For most of them nutritious food is far from existence. This Delhi based startup,Hungry Foal is way above all others by its good and nutritious food.
Vivek Kaushik and Japna Rishi Kaushik are the duo responsible for this startup. Vivek being a veteran in the field of entrepreneurship has co founded Bodhicrew Services, a social enterprise that developed one of the fastest growing job portals for informal/blue collar workers in India and Aarambh Ventures a startup accelerator which is in top five in Delhi/NCR and Oxigen wallet is also his brain child. He also has an expertise in fields of IT, food. On the other hand Japna, a well-versed professional in food quality management, internal audit, documentation, MIS, teaching and training and new product development in the food and development sector has proved her worth in top organizations like Coca Cola, Britannia, and Nestle by leading teams in various departments including production, RnD, quality operations.
Nothing happens without a reason. Similarly the reason behind this startup is Malnutrition. Getting into the facts, according to 2016’s Global Nutrition Report, Malnutrition is the new normal across the world. This has become the backbone of deaths with a shocking fifty percent share in the deaths of children below the age five. India sadly is the brand ambassador of malnutrition in the recent past. India ranks 100 on the Global Hunger Index involving 119 countries.
To give India the independence from malnutrition JV Foodworks Pvt Ltd was started in May 2016. The motto is to provide food which is tasty, nutritious and at the same time accessed by everyone, especially the ones at the Bottom of Pyramid (BoP) in India. It is them who not just want but need the food. But as they say good things come at a price and in the case of nutritious food the price is a costly affair and hence they cannot afford it. Breaking this myth is the work done by JV Foodworks.
Hungry Foal symbolizes a company concentrating on a child’s growth at the early stages of life by providing food with nutritional value. It is a startup which is best and different from the rest and has followed a bottom up approach aiming at an untapped market which is a bit similar to microfinance that extends hands to those neglected by huge financial institutions. As a brand they say that pure things like a wooden horse used during the childhood has the ability to attract people as there is an originality to it and also indicates affordability and has a mass appeal. They started at a segment with a less access to the good food at lower price and now are heading to the phase where the focus has been put on product ingredients and taste.
They offer a sustainable, scalable and a cost effective solution to the problem of malnutrition by using right blend of ingredients like Oats and fortified food products which are abundant sources of vitamins and minerals that humans need. All this is provided to children belonging to the lower income group at a very lesser cost. This provision of high quality ingredients and nutritious food while paying less money is their value proposition. The advanced food technology is what makes the food scrumptious.
They have their own distribution network through which these products are sold to their most important target audience, the BoP group. Mom and pop retail stores in Delhi/NCR are currently selling the products. The SKUs are of Rs.5 (20gm - 28g) and Rs.10 (30g - 40g) and the products they manufacture meet the nutritional requirements (600kcal energy & 9g of protein), the price range, for the children & women as set by the Government of India.
The funds required for machinery is obtained through Startup India scheme and for the production, technology growth and expanding the market a pre series-A funding has been raised via GAIL Ltd under the initiative Pankh. The funds will be used for market expansion, technology and production ramp up.
They say that Government of India’s initiatives like Make in India are a boon for them and also all the new startups. Though in this internet world it is a tough decision to start manufacturing based companies, they chose this path and for good. They suggest the budding entrepreneurs that in this manufacturing domain an institutional investor will fund only after a scale is reached. There was a failure in eliciting the interest of VC’s and impact funds because of being into a CAPEX heavy business. However the Government of India was of huge help and this is a best choice for new entrepreneurs to scale up the business. The great news is that snacks market has been growing at a very rapid rate and the sales are at a surprising 47,000 crore INR which was previously 8000 crore in the year 2004. Also PwC FICCI report which says that there is market growth at CAGR of 10 to12% in a 14,500 to 15000 crore market is a boost to these kind of startups.
The year wise plan includes saturating North India market in the first year followed by distribution and marketing for south and east, foreign market research as a part of years two and three and finally expanding it to African market in the consecutive years probably in the other part of third year.
Making nutritional products available for those who need it but can’t afford it is what Hungry Foal is aiming for and like Education for all; the slogan Nutrition for all is driving them forward.
Website: Hungry Foal
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I am S.N. VIKRAM SIMHA.I am a B.tech final year student from REVA University Bangalore. I am a Blogger.I write content, quotes, short stories.I love to do something in the field of English.SO, I love to write content.