PE Fund Investments
iD Fresh Foods raises Rs.507-Cr led by NewQuest; Helion Ventures exits
Bengaluru-based packaged foods company iD Fresh Foods, which sells fresh idli and dosa batter, has closed an INR 507 crore Series D funding round led by NewQuest Capital Partner. Existing investor Premji Invest also participated in the round. Early investor Helion Ventures has exited with a 10-fold return on its investment in iD (that started in 2014). Kotak Mahindra Capital acted as the exclusive financial advisor to the company and Helion. The proceeds from the primary infusion will be used by iD for enhancing its portfolio of products and capacities (including setting up new factories in Delhi and Hyderabad) and to expand its presence in key markets in India, the UAE and other overseas markets. The company will introduce two new varieties of ‘parottas'. The company's overseas expansion plans will cover the UK, the US, Singapore, Malaysia and other markets.
From the Venture Intelligence PE-VC Deal Database: Between Mar-14 and Jan-17, ID Fresh Foods had raised over $28 M from PremjiInvest, Helion Ventures, and Sequoia Capital India. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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