veeba

Overview

Veeba is a prominent player in the Indian food industry, specializing in the production and marketing of high-quality condiments and sauces. The company is distinguished for its focus on innovation, quality, and commitment to offering "Better for You" products. Veeba's extensive portfolio includes mayonnaise, spreads, dips, dressings, and various sauces that cater to both general and modern trade markets across India.

Key Facts

• Founded: 2012

• Headquarters: Gurugram, Haryana, India

• Type: Private (VRB Consumer Products Private Limited formerly Veeba Food Services Pvt. Ltd.)

• Employee Size: 1,001-5,000

• Funding Raised: $31.04M to $67.3M over various rounds.

• Valuation: Approximately $266M

• Revenue: Expected to cross Rs 1,000 crore in the fiscal year.

Leadership Team

• Viraj Bahl: Founder and Managing Director

Viraj Bahl has been leading Veeba with a vision of innovation and quality. His decade-long journey has been marked by significant milestones, including transforming the company into a substantial player in India's condiments market. He was educated at Singapore Polytechnic.

• Rahul Chadha: Chief Financial Officer

Bringing robust financial acumen to Veeba, Rahul Chadha oversees the company's financial planning and strategy. He completed his Post Graduate Program in Management Development and brings extensive experience in financial management.

• Sushil Garg: Chief Supply Chain Officer

With a strong background in supply chain management and previous roles at companies like PepsiCo, Sushil Garg ensures the efficient operation of Veeba's supply chain, maintaining the company's reputation for timely and quality service.

Product Portfolio

Veeba offers a wide array of products, including:

• Mayonnaise: Available in multiple variants

• Sauces: This includes Japanese, Italian, and other international flavors.

• Dips & Dressings: Innovatively designed to cater to modern culinary tastes.

• Other Condiments: Including mustard sauces, sandwich spreads, and cooking sauces.

Corporate Philosophy

Veeba prides itself on responding to the evolving palate of Indian consumers by introducing innovative products using the freshest ingredients. The company is driven by a mission to become India's most loved food company by consistently delivering products that enhance the culinary experience.

Competitive Edge

Veeba's competitive strengths include:

• Quality & Compliance: All products are manufactured in a FSSC22000 certified facility, ensuring high quality and safety standards.

• Distribution Network: The company boasts a pan-India distribution network that serves both small and large retailers and food service establishments.

• Innovative Products: Continual development of new and unique condiments and sauces to match global food trends.

• B2B and B2C Expertise: Originally established as a B2B company, Veeba's clients include major global QSRs and coffee chains. This experience has seamlessly translated into their B2C offerings.

Recent Achievements

• Veeba was recognized as the Top Rated FMCG Company by AmbitionBox Awards in 2024.

• Projected to surpass the Rs 1,000 crore revenue mark in FY 2023-24 with a growth rate of over 40%.

Contact Information

• Corporate Office:

Office No. 101, 1st Floor, Pegasus One, (Inside IBIS Hotel Complex), Golf Course Road, Sector -53, Gurugram, Haryana, 122002, India

• Registered Office:

133, Saidullajab, Mehrauli Badarpur Road, New Delhi -110030, India

• Email: hello@veeba.in

• Phone: 0124-4653250

• Website: [https://veeba.in/](https://veeba.in/)

Social Media Presence

• Facebook: [Veeba](https://www.facebook.com/Veeba.in/)

• Instagram: [@veeba_in](https://www.instagram.com/veeba_in/?hl=en)

• LinkedIn: [Veeba](https://in.linkedin.com/company/veeba)

Competitor Profile

Key Competitors

1. Wingreens Farms

Wingreens Farms, established in 2011, operates under the brand umbrella Wingreens World, which includes other sub-brands like Raw Pressery and Wingreens Harvest. Co-founded by Anju Srivastava and Arjun Srivastava, Wingreens Farms offers a diverse range of food products including fresh dips, sauces, and snack items. It is noted for its strong commitment to social impact, working closely with farmers and employing local women to produce its goods. Wingreens Farms has raised a total funding of $54 million over multiple rounds and has seen rapid annual revenue growth, clocking close to Rs 8 crore monthly.

2. Zissto

Founded in 2017 by Kanhai Porecha, Zissto, under VinZillion Edibles Pvt. Ltd., focuses on offering ready-to-cook sauces and gravies that cater to both home and professional kitchens. Zissto's product line includes Indian and international sauces such as Makhani, Chettinad, and Pizza Pasta. Hygienically packed in glass jars, Zissto aims to blend convenience with nutritional value, with products having a long shelf life of 12 months. Zissto is particularly strong in the online retail segment, distributing products through platforms like Amazon and Flipkart.

3. The Gourmet Jar

An emerging competitor in the segment, The Gourmet Jar specializes in a premium range of handmade preserves and condiments. This brand is carving out a niche market by focusing on high-quality, artisanal products that appeal to discerning consumers.

4. Wingreens

A brand known for its healthy snack alternatives, Wingreens offers a variety of dips, pita chips, and other gourmet products. It has a strong hold in both online and offline retail markets.

5. Cremica

Cremica competes with Veeba in multiple segments including sauces, condiments, and bakery items. It has a robust distribution network and a solid presence in the Indian market.

Market Position

As of 2019, Veeba commands a significant market share in Northern India, with a presence in over 430 towns. It offers around 54 SKUs in the retail segment and nearly 100 SKUs in the B2B segment, catering to clients like Domino’s Pizza, Starbucks, and KFC. Veeba has been experiencing an annual growth rate of 45-50%.

Strategic Insights

• Product Diversification: Veeba should continue to expand its product portfolio to include more health-conscious and premium condiments, akin to those offered by Wingreens Farms and The Gourmet Jar.

• Social Impact: Emphasizing sustainable practices and social responsibility could help Veeba enhance its brand image, mirroring Wingreens Farms’ successful model of integrating social initiatives into their business operations.

• Market Expansion: There is ample scope for Veeba to penetrate the Southern and Western Indian markets further. Targeted marketing campaigns and partnerships with local retailers could be beneficial.

• Digital Engagement: Strengthening e-commerce platforms and improving digital marketing strategies will help Veeba compete effectively with brands like Zissto that have a strong online presence.

Competitor Financials Snapshot

• Wingreens Farms: Monthly revenue close to Rs 8 crore.

• Zissto: Annual revenue data not explicitly stated, but the company is rapidly expanding its market presence, highlighted by participation in international food events like Gulfood 2024.