Veeba
 | |
| Company type | Private |
|---|---|
| Industry | Food processing |
| Founded | 2013 |
| Founder | Viraj Bahl |
| Headquarters | Gurugram, Haryana, India |
Key people | Viraj Bahl (Founder & Managing Director) |
| Products | Sauces, mayonnaise, dips, spreads, peanut butter, salad dressings |
| Revenue | ₹811 crore (FY23) |
Number of employees | 1192 (February 2025) |
| Website | veeba |
Veeba, officially VRB Consumer Products Private Limited, is an Indian food processing company specializing in condiments, sauces, and spreads. Founded in 2013 by Viraj Bahl in Neemrana, Rajasthan, Veeba initially operated as a B2B supplier for quick-service restaurants (QSRs) like Domino's Pizza and Burger King. It later expanded into the B2C retail market, offering products tailored to Indian and global palates. Known for its focus on quality, innovation, and health-conscious offerings, Veeba has grown to serve over 700 cities with a distribution network reaching 150,000 retail outlets. The company reported revenues of ₹811 crore in FY23 and aims to cross ₹1,000 crore in FY24. Veeba operates in three segments: institutional, HoReCa, and retail, with a strong emphasis on low-fat and vegetarian products.[1][2]
Founders & Leadership
Veeba was founded by Viraj Bahl, who serves as the Managing Director. Born in Delhi, India, to Rajiv and Vibha Bahl, he was exposed to the food industry through his father’s business, Fun Foods. Bahl graduated with a degree in Industrial Engineering from Singapore Polytechnic. He joined Fun Foods in 2002, contributing to its growth before its sale to Dr. Oetker in 2008. After a failed restaurant venture, Pocket Full, Bahl founded Veeba in 2013, leveraging his industry experience to build a professional organization. He was recognized in The Economic Times 40 Under 40 list in 2019 and serves as a judge and investor on Shark Tank India (Season 4). Bahl’s vision emphasizes quality, innovation, and Indian-inspired flavors.[3][4]
Origin & Founding Story
Veeba was established in 2013 by Viraj Bahl following the failure of his restaurant chain, Pocket Full, which closed in 2013 after four years. Bahl’s earlier experience with his family’s business, Fun Foods, which was sold to Dr. Oetker in 2008 for ₹110 crore, shaped his understanding of the condiments industry. Facing financial challenges after the restaurant failure, Bahl and his wife sold their house to fund Veeba’s inception. He purchased a 35,000-square-foot plot in Neemrana, Rajasthan, to set up a manufacturing facility. Initially focusing on B2B supply for QSRs, Veeba aimed to offer innovative, high-quality condiments. The company’s early partnerships with brands like Domino’s and Starbucks helped establish its market presence, paving the way for retail expansion in 2015.[5][6]
Timeline
| Year | Milestone |
|---|---|
| 2008 | Viraj Bahl’s family business, Fun Foods, sold to Dr. Oetker for ₹110 crore.[6] |
| 2009 | Bahl launches restaurant chain Pocket Full, which fails by 2013.[5] |
| 2013 | Veeba founded in Neemrana, Rajasthan, as a B2B condiments supplier.[1] |
| 2014 | Raised ₹3 crore at a valuation of ₹105 crore.[3] |
| 2015 | Entered retail segment with 14 low-fat, vegetarian products.[7] |
| 2016 | Raised $6 million in Series B funding from Saama Capital and Verlinvest.[8] |
| 2017 | Launched "Veeba Favourites" retail range with 19 products.[9] |
| 2019 | Entered child nutrition segment with V-Nourish brand.[9] |
| 2023 | Revenue reached ₹811 crore; rebranded to VRB Consumer Products.[2] |
| 2024 | Launched Tasty Pixel and WokTok product lines; expanded to 700 cities.[3] |
Funding
| Date | Round | Amount | Investors |
|---|---|---|---|
| 2014 | Seed | ₹3 crore | Undisclosed[3] |
| 2015 | Series A | $6 million | DSG Consumer Partners, Saama Capital[8] |
| October 2016 | Series B | $6 million | Saama Capital, Verlinvest[8] |
| April 2018 | Series D | Undisclosed | DSG Consumer Partners[10] |
| October 2019 | Series E | ₹100 crore | Sixth Sense Ventures[11] |
Business Model
Veeba operates a hybrid business model, catering to institutional, HoReCa (hotels, restaurants, and cafés), and retail segments. In the institutional segment, it supplies customized sauces and condiments to QSRs like KFC, Pizza Hut, and Starbucks, generating revenue through bulk orders and long-term contracts. The HoReCa segment serves premium hotels, restaurants, and caterers, focusing on tailored products and convenient packaging. The retail segment, which contributes 92% of revenue, targets health-conscious consumers with low-fat, vegetarian products sold through general trade (70%), modern trade (22%), and e-commerce (8%). Veeba’s emphasis on quality ingredients and innovation, such as Indianized western sauces, drives its competitive edge. The company sources raw materials globally and manufactures in ISO 22000-certified facilities.[12][13]
Products / Services
Veeba offers a diverse range of condiments and food products, including:
- Sauces: Tomato ketchup, hot sauces, pasta sauces, Chinese sauces (WokTok range), and Indian-style chutneys.
- Mayonnaise: Classic, garlic, and eggless variants, including Vegginaise.
- Dips & Spreads: Hummus, cheese dips, peanut butter (creamy and crunchy).
- Salad Dressings: Low-fat dressings for health-conscious consumers.
- Marinades & Gravies: Stir-fry sauces, grilling marinades, and Indian gravies.
- Child Nutrition: Fortified products under the V-Nourish brand.
- Dessert Toppings: Sweet toppings and bar syrups (Bene Tibi brand).
- Organic Beverages: Earth Made brand for health-focused drinks.
The company emphasizes preservative-free, low-fat, and vegetarian products, with 85 stock-keeping units as of 2024.[14][3]
Growth & Metrics
Veeba has shown significant growth since its inception. By FY23, the company reported revenues of ₹811 crore, up from ₹542 crore in FY22 and ₹239 crore in FY19. It is projected to exceed ₹1,000 crore in FY24. Veeba operates in over 700 cities, with products available in 150,000 retail outlets and 28 depots. The company employs 1,192 people as of February 2025. Its retail segment dominates, contributing 92% of revenue, with a strong presence in general trade stores. Veeba’s valuation reached $265 million in 2019, with a founder net worth of ₹739 crore. The company’s focus on distribution expansion and product innovation has driven its growth, particularly in health-conscious and Indian-inspired product categories.[1][2][13]
Legal Entity Information
| Field | Details |
|---|---|
| Legal Name | VRB Consumer Products Private Limited |
| Foundation Date | 2013 |
| Registrar of Companies (ROC) | ROC Delhi |
| Corporate Identification Number (CIN) | U15122DL2012PTC243550 |
| Registered Address | 133, Saidullajab, Mehrauli Badarpur Road, New Delhi - 110030, India |
| Email ID | rahul.chadha@veeba.in |
| Company Status | Active |
| Directors | Viraj Bahl, Shilpa Madan |
| Authorized Share Capital | ₹ 140,000,000 |
| Paid-up Capital | ₹ 89,419,670 |
Acquisitions and Investments
Veeba has not made any acquisitions or investments as of May 2025.[1]
Media & Public Recognition
Veeba has received significant media coverage for its growth and innovation. In 2019, Viraj Bahl was featured in The Economic Times 40 Under 40 list.[3] The company was covered by Forbes India for its journey from a failed restaurant to a leading condiments brand.[4] Inc42 highlighted Bahl’s entrepreneurial story at its D2C Summit in 2024.[5] The Hindu BusinessLine reported on Veeba’s revenue growth and IPO plans.[13] The company partnered with MasterChef India in 2023, promoting its products to home chefs.[15] Veeba’s focus on quality and Indian-inspired flavors has been praised by industry analysts at Technopak Advisors.[13]
FAQs
- What is Veeba known for?
- Veeba is known for manufacturing and distributing condiments, sauces, and spreads, catering to QSRs, HoReCa, and retail consumers with a focus on low-fat, vegetarian products.[14]
- When was Veeba founded?
- Veeba was founded in 2013 by Viraj Bahl in Neemrana, Rajasthan.[1]
- What is Veeba’s revenue?
- Veeba reported ₹811 crore in revenue for FY23 and is projected to cross ₹1,000 crore in FY24.[2]
- Who are Veeba’s major clients?
- Veeba supplies to QSRs like Domino’s, KFC, Starbucks, and Burger King.[12]
- Is Veeba planning an IPO?
- Veeba is preparing for an IPO within the next 3–4 years, focusing on profitability and revenue growth.[13]
External Links
Related Startups
References
- ↑ 1.0 1.1 1.2 1.3 1.4 "Veeba - 2025 Company Profile". Tracxn. Retrieved 26 May 2025.
- ↑ 2.0 2.1 2.2 2.3 Malviya, Sagar (17 August 2023). "Veeba founder on building a Rs 1,000 cr co, profitability, and more". ET Retail. Retrieved 26 May 2025.
- ↑ 3.0 3.1 3.2 3.3 3.4 3.5 "Viraj Bahl - Wikipedia". Wikipedia. 8 October 2024. Retrieved 26 May 2025.
- ↑ 4.0 4.1 Singh, Rajiv (4 September 2023). "Appetite, Food And Hunger: Is There More To Veeba's Secret Sauce?". Forbes India. Retrieved 26 May 2025.
- ↑ 5.0 5.1 5.2 Anne, F. (8 August 2024). "Failed Restaurant Business Propelled Inception Of INR 1K Cr Veeba: Founder Bahl". Inc42. Retrieved 26 May 2025.
- ↑ 6.0 6.1 "Meet man, whose fulfilled father's condition, still his father sold family business". India.com. 5 November 2024. Retrieved 26 May 2025.
- ↑ 7.0 7.1 "Veeba - Corporate Information". veeba.in. Retrieved 26 May 2025.
- ↑ 8.0 8.1 8.2 "Veeba Foods Company Profile Funding & Investors". YourStory. Retrieved 26 May 2025.
- ↑ 9.0 9.1 "Business Case Study: Veeba". MyPMInterview. 14 July 2024. Retrieved 26 May 2025.
- ↑ "Veeba Stock Price, Funding, Valuation, Revenue & Financial Statements". CB Insights. Retrieved 26 May 2025.
- ↑ "Veeba Foods - Crunchbase Company Profile & Funding". Crunchbase. Retrieved 26 May 2025.
- ↑ 12.0 12.1 "Veeba – Sixth Sense". Sixth Sense Ventures. Retrieved 26 May 2025.
- ↑ 13.0 13.1 13.2 13.3 13.4 "The sauce and spice in Veeba's growth". The Hindu BusinessLine. 9 November 2023. Retrieved 26 May 2025.
- ↑ 14.0 14.1 "Veeba : Company Profile, Founders, Key Products/Services & More". Indian Retailer. Retrieved 26 May 2025.
- ↑ "Veeba - LinkedIn". LinkedIn. 23 November 2019. Retrieved 26 May 2025.