Venktesh Investment & Trading is the family office of Taparia, one of the promoters of the listed plastics packaging company Supreme Industries. The investment firm is actively looking at investment opportunities with a niche in select focus segments and businesses with ability to scale with pace.
In 2016, founders Prateek Anil Mittal and Rajas Kishore Dhote came together to create the company which produces fresh and naturally made cheese.
The brand started with four products in December 2018 with techniques from Europe. The company, they said, aims to sell fresh cheeses like bocconcini, burrata, cream cheese, cheddar etc.
The company is both selling directly to consumers and supplying to hotels, restaurants and catering companies like premium pizza chains, shipping lines and flight kitchens. In retail, it said, it sells in 18 cities in the country and premium retail stores like Godrej Nature’s Basket, Foodhall, etc.
With this fundraise, the company plans to deploy this capital towards new product launches, entering new tier 2 and 3 markets for retail expansion from the current cities and ramping up its current manufacturing capacities by 5X.
“The investment affirms our belief and vision to make gourmet and fresh cheese products a daily consumption item, but also provides us the required boost in reaching our goal faster and more efficiently," said Mittal.
“With our investors’ support and value-add, we are looking forward to build Cremeitalia as the most preferred brand in the gourmet and fresh cheese segment," Dhote added.
Investment banker and corporate finance professional, Harshal Kamdar advised MD Food Product on this fundraising.
According to the IMARC Group, the cheese market in India reached a value of ₹56.7 billion in 2021. It expects the market to reach ₹211.5 billion by 2027.
