Chevon Agrotech Pvt Ltd, an integrated frozen food company, has received its latest round of funding from Singapore-based investment management firm, Greenfield Advisory, with a significant million-dollar investment value.
The former will allocate a portion of the acquired funds to expand its senior management team and develop new products.
With plans to enhance its reach to all major markets in India, Chevon, will also utilise the funds to launch marketing campaigns, ramp up distribution and drive its international forays into the Middle-Eastern and South-East Asian markets.
A major driver behind the company’s international expansion is the rising popularity of goat meat as a superfood and the vast global potential this untapped market presents.
Chevon has solely-owned livestock farms & processing facilities in the country. Quality, the byword at the company, underpins all its operations.
Chevon’s processing and cold storage facility, located in Navi Mumbai, has been approved by the Agricultural and Processed Food Products Export Development Authority (APEDA) and the Food Safety and Standards Authority of India (FSSAI).
It is equipped to undertake state-of-the-art processes such as blast freezing, plate freezing, chilling, packing and cold storage. Chevon’s unique selling proposition (USP) is its 80-20 process, wherein only 80 per cent of the best cuts are selected to be finally packed.
Its status as a superfood is owed to its being high in protein and iron, while being very low in fat, making it a great source of nutrients for meat eaters.
Rizwan Thakur, founder and chief executive officer, Chevon Agrotech, said, “We are indeed thrilled at the trust that Greenfield Advisory has placed in our brand, our product and business model.”
“The funding received will help us capitalise on the vast global opportunity in the goat meat segment, and promote our products in India, as well as internationally, as a high-quality source of protein with minimal impact on the environment,” he added.
Greenfield Advisory advises institutional and accredited investors in managing investments.
It endeavours to explore opportunities in emerging markets such as South-East Asia, by way of both active and passive investments, such as private equity and hedge funds, and invest in public as well as private markets.