Speciality food ingredients manufacturer Veeba Food Services Pvt Ltd has raised USD 6 million (Rs 38 crore) from Saama Capital and existing investor DSG Consumer Partners.
Rajiv and Viraj Bahl, who sold their company Fun Foods to German firm Dr Oetker in 2008 for Rs 110 crore and completed their non-compete clause in July 2012, set up Veeba in 2013.
The company is primarily an institutional supplier of sauces and dressings to the foodservice industry, including to chains such as KFC, Pizza Hut, Burger King, Taco Bell and Starbucks.
The fresh investments are expected to fund the company’s foray into direct retail.
Saama Capital has already backed companies across categories, including Sula Wines, Shaadi, Snapdeal, iYogi, Prizm Payments, One97 Communications, Bluestone, Naaptol, Genesis Colors, Applabs, Shriram EPC, SKS Microfinance, Vistaar Finance, Shubham Housing Finance, Chai Point, Hotelogix and Games2Win.