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Fireside Ventures, an early stage venture fund focussed on consumer brands, said its vision is to build 25 iconic brands in the next 10-15 years.
Fireside has changed the value of iconic brand from ₹100 crore to $100 million.
“We invested ₹6 crore in Boat, a consumer electronics start-up, which notched up ₹100 crore in revenue as of March 2018 and was profitable from day one. Several more of our start-ups will soon become ₹100 crore brands. That’s when we thought of raising the bar and building 25 iconic $100-million consumer brands that will be fuelled by three emerging consumer trends – Eating Better, Looking Better, and Living Better,” said Kanwaljit Singh, Managing Partner, Fireside Ventures.
Fireside announced six new investments on Tuesday, taking its portfolio from 12 to 18 consumer brands.
The companies that are targeting emerging Millennial and Gen Z consumers are: Azani Sports, an active wear brand selling sports apparel, compression gear and footwear; MGH Labs that has created a smart machine Bog Orchid which traps mosquitoes; Transformative Learning Solutions whose The Ayurveda Experience platform provides consumers with ayurvedic skin and wellness formulations; Kapiva Ayurveda that sells a range of wellness products like juices, honey and ghee; Tangy Turmeric Private Ltd which offers Tasty Tales brand of masalas and pastes for traditional dishes; and AnKa SumMor Foods Private Ltd, a tech-enabled sales and distribution company offering a complete ‘go to market’ solution to millennial brands.
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