MTR Food fund backs children’s snack brand Timios

MTR Foods Pvt. Ltd. has made its first investment from its Rs 50 crore seed fund in early stage start-up FirmRoots Pvt. Ltd., mainly for the latter’s children-packaged food brand.

Orkla Group, the parent company of MTR Foods, had set up the Rs 50 crore venture fund, christened MTR Seed Fund, last year to invest mainly in food tech-related startups in India over 2017 and 2018.

The company had said it take a stake ranging between 26% and 49% in the start-ups. It will also give the portfolio startups access to MTR Foods research and discussion team, as well as to the company’s in-house group of chefs or common services such as branding, legal assistance, treasury and accounting services.

The Bangalore-based packaged foods company FirmRoots was started as a solution towards age-appropriate nutrition, and has a product range called Timios exclusively for children in the age group of 6 months to 12 years.

Along with the investment, MTR Foods will also mentor the brand on various aspects of the business including marketing, sales and distribution strategy, food safety standards, management of resources among others.