Mumbai based MD Food Product (Cremeitalia) has raised an amount of $600,000 funding from Mumbai based B L Taparia Family Office (Venktesh Investment & Trading). This marks the first round of external investors for the startup, while having received initial funding from family and friends in the last 3 years.
From product segment perspective, Cremeitalia focuses on natural, fresh and non-processed cheese in the market with important characteristics such as natural & high-quality ingredients, competitive pricing, gluten free and easy usage. The current product portfolio includes the following products Bocconcini, Burrata, Cream Cheese, Cheddar, Cherry Mozzarella, Buffalo Mozzarella, Fiordilatte Pizza, Stracciatella, Ricotta, Mascarpone, Sour cream, Scamorza and Flavour Provola
Cremeitalia has been successfully serving the HORECA (Hotels, Restaurants and Catering) clients and have been preferred suppliers to some of the premium pizza chains, luxury hotels, stand-alone restaurants, shipping lines and flight kitchens, amongst others. Cremeitalia has catered to more than 150 clients so far.
On the retail side, the Cremeitalia’s products are available in 18 cities across more than 200 stores. The company is aggressively tying up with more e-tailers to make their products easily accessible and available pan-India.
With this fund raise, the company plans to deploy this capital towards new product launches, entering new markets (Tier 2 and 3 cities), retail expansion from the current 242 stores to 500+, expansion of current manufacturing capacities by 4-5x, marketing and branding initiatives across multiple online stores and also performance marketing in order to grow the online presence.