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Imagine walking into a residential complex, software park and corporate office, picking up goods from a store, and dropping money into a box. Nobody to even collect your money. If you don’t have enough money today, you can always come back later and pay, and unlike the local banya, nobody judges you! In the man’s own words, ‘no one’s watching, except the Almighty’. In the age of <a href="http://www.businessinsider.in/searchresult.cms?query=business+automation&amp;sortorder=effectivedate">business automation</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=high-tech+security&amp;sortorder=effectivedate">high-tech security</a>, this seems too good to be true. Fun fact, it’s working. 
 <keyword id="2577790" type="UNKNOWN" weightage="100" keywordseo="iD-Fresh-Food">iD Fresh Food</keyword>, a ready-to-eat food company founded by IIM-B alum <keyword id="3214439" type="UNKNOWN" weightage="80" keywordseo="PC-Musthafa">PC Musthafa</keyword> has been in the news for its revolutionary iD Trust Shop it rolled out in Bangalore. The company has 17 Trust Shops across Bengaluru, and will be launching them in Hyderabad, Chennai and Mumbai in about a week and around 1000 Trust stores in the coming 6 months. 
 
Musthafa says this alternate model struck him by February end, and by March 11th he launched the first store. As incredible as it might sound, people are paying! 
 
“Collection rates are close to 90%. On some days it’s over 100%. The beauty of the model is that you can pay later, so some day you pay in parts. We hope people remember, and pay for it, and they do”, Musthafa says. 
 
What happens if the collection is below 100%, does he plan to keep it going at a loss? Musthafa argues there will be no loss. “Our products are sold at MRP. Whatever margins there are, we’re passing it onto the retailer. Whatever the amount not paid for may be, the retailer margin is always more than it. This is actually better than the traditional retailer model”, he says. 
 
When asked about funding Musthafa is non-chalant. “I don’t need funding. It’ll make money in itself. This is a sustainable business model. I’m not losing money, so I don’t have to ask for more!” he says. 
 <keyword id="3323332" type="UNKNOWN" weightage="60" keywordseo="iD-Fresh">iD Fresh</keyword> is backed by <a href="http://www.businessinsider.in/searchresult.cms?query=Helion+Ventures&amp;sortorder=effectivedate">Helion Ventures</a>, and claims to have crossed Rs 100 crores in revenues last fiscal, and is targeting Rs 250 crores in 2016-17. 
 
<a href="https://i.ytimg.com/vi/r8daFczG9bQ/maxresdefault.jpg">Image Source</a>

Meet PC Musthafa, the IIM-B alum
who brought ‘trust’ into his iD Fresh Foods retail business

<ul><li>A dosa-making tava and relaunch of chapati -- <keyword id="2577790" type="General" weightage="20" keywordseo="id-fresh-food" source="Orion">iD fresh food</keyword> has an aggressive expansion plan for this year.</li><li>iD <keyword id="132468" type="General" weightage="20" keywordseo="fresh-food" source="Orion">Fresh Food</keyword> also announced its seventh round of ESOP worth ₹46 crore earlier this week.</li><li>The Bengaluru-based food brand will be leveraging its expanded portfolio and tapping new markets to drive up growth as it targets revenue of ₹700 cr this year and ₹1000 cr next year.</li></ul>iD Fresh Food, the consumer brand known for <keyword id="8757103" type="General" weightage="20" keywordseo="idli-and-dosa" source="Orion">idli and dosa</keyword> batters, is looking at expanding its product portfolio aggressively by launching new products and relaunching an old one in India and across the world. It is planning to relaunch its chapati brand, as P.C. Musthafa, co-founder of iD Fresh Food, believes that they haven’t been at par with the company’s standards. “We're relaunching chapati as it was not a great product from iD, to be frank. I know I'm talking against my brand itself. It was not a super product like other products. Over the last 3-4 years, we worked on it, and managed to launch a great chapati in the UAE market,” Musthafa told Business Insider India. After the relaunch of <keyword id="14445056" type="General" weightage="20" keywordseo="chapatis" source="Orion">chapatis</keyword> in the UAE, iD Fresh Food has tripled its revenue in the west Asian market. It is now relaunching chapatis in the Indian market and Musthafa is confident that it will be a game changer. Its strongest markets are Bengaluru, Dubai, Mumbai, Hyderabad, Chennai, Delhi and Kolkata. It is now working on strengthening its presence in Tier II markets. Bangalore-based iD Fresh Food is also launching a dosa-making tava this quarter, after seeing a good response for its prototype last year. “We have orders for the next one year of production,” said Musthafa. Pandemic gave a push to ready-to-eat market The pandemic saw swathes of Indians <a href="https://www.business-standard.com/article/companies/stay-at-home-consumers-push-ready-to-eat-sales-segment-may-double-in-2-yrs-120082001800_1.html">switch </a>to ready-to-eat (RTE) and ready-to-cook (RTC) brands, as they sought convenient options to ease their burden during the long stay-at-home and work-from-home periods. As per market research firm <a href="https://www.statista.com/outlook/cmo/food/convenience-food/ready-to-eat-meals/india">Statista</a>, RTE market in India amounted to $50.15 billion in 2021 and is expected to grow annually by 9.59% CAGR and become a $90 billion market by 2027. Apart from convenience, iD Fresh Food offered another unique selling proposition (USP) to these consumers. Their products were healthier and cleaner - or free from artificial additives or preservatives. So, it was during the peak of the pandemic that iD Fresh Food started adding new customers as more and more people were willing to spend a premium on healthy products and increased convenience. “During the pandemic, we managed to add some new customers who were not willing to try our products earlier. They became even more health-conscious (due to the pandemic),” shared Musthafa. Becoming a ₹1000 cr company Founded by P.C. Musthafa, Abdul Naser and his brothers in 2005, iD Fresh Food is currently valued at ₹2000 crore. Premji Invest and NewQuest Capital Partners are investors in the company. Home-grown brand iD fresh Food will leverage its expanded portfolio and tap new markets to accelerate growth as it targets revenue of ₹1000 crore for the next year. “This fiscal, we are looking at a ₹700 crore revenue target. With the current run rate, we should be able to cross our ₹700 crore target. If we are able to, then ₹1000 crore should be our target for the next year,” said Musthafa. It reported a 47% growth in the quarter ending June 2022. iD Fresh Food also announced its seventh round of <a href="https://www.businessinsider.in/business/startups/news/id-fresh-offers-stock-options-to-another-27-employees-aims-to-create-100-crorepatis-in-the-next-three-years/articleshow/92722488.cms" data-type="tilCustomLink">ESOPs </a>(employee stock option plan) worth ₹46 crore earlier this week, which Musthafa says, is not generous but just what their employees deserve. “They are the people who built the brand, not me. They have supported me during the most difficult times, even when we were not able to pay salaries on time, they did stand by us and supported us. So far, we have given away ESOPs to 73 employees and its total worth is around ₹300 crore. Our dream is to make <a href="https://www.businessinsider.in/business/startups/news/id-fresh-offers-stock-options-to-another-27-employees-aims-to-create-100-crorepatis-in-the-next-three-years/articleshow/92722488.cms" data-type="tilCustomLink">100 crorepatis</a> totally in the next two years [in our company],” said Musthafa.

ID Fresh Food is looking at better growth with batter, chapatis and tavas

<ul><li>The <keyword id="6354321" type="General" weightage="50" keywordseo="bengaluru" source="Orion">Bengaluru</keyword> based popular <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>n consumer brand has forayed into the ₹10,000 crore ghee market of India.</li><li><keyword id="6358070" type="General" weightage="50" keywordseo="mumbai" source="Orion">Mumbai</keyword> has the largest market of packaged ghee in India followed by Delhi, Bengaluru, Chennai, Pune and Hyderabad.</li><li>Founded in 2005, <keyword id="2577790" type="General" weightage="80" keywordseo="id-fresh-food" source="Orion">iD Fresh Food</keyword>, is known for its idli and dosa batters and it reported a 47% growth in the quarter ending June 2022. </li></ul>ID <keyword id="132468" type="General" weightage="80" keywordseo="fresh-food" source="Orion">Fresh Food</keyword>, an Indian consumer fresh food brand, announced its foray into the ₹10,000-crore ghee, or clarified butter, market with the launch of iD Ghee in Mumbai on Wednesday. The company is aiming to mop up an additional revenue of ₹100 crore from selling packaged ghee. Currently, Mumbai is the largest packaged ghee market in India followed by Delhi, Bengaluru, Chennai, Pune and Hyderabad, accounting for more than half of packaged ghee sales in the country, the company said in a statement. “We believe that the packaged ghee market in India is ripe for disruption. Our product team has successfully extracted cream from milk and made ghee, without any freezing, keeping it fresh – sans any added colours, flavours, or additives,” said P.C. Musthafa, co-founder and CEO of iD Fresh Food. Ghee, also known as clarified butter, is made from milk cream and non-preserved butter. iD Fresh Food owns its entire supply chain, which it says, enables it to exercise strict quality control and faster speed to market. Founded in 2005, iD Fresh Food, is known for its idli and dosa batters. The company reported a 47% growth in the quarter ending June 2022. In an <a href="https://www.businessinsider.in/business/startups/news/id-fresh-food-is-looking-at-better-growth-with-batter-chapatis-and-tavas/articleshow/92854342.cms">interview</a> with Business <a href="https://www.businessinsider.in/business/startups/news/id-fresh-food-is-looking-at-better-growth-with-batter-chapatis-and-tavas/articleshow/92854342.cms">Insider last month</a>, Musthafa had said iD Fresh Food was looking to expand its product portfolio. ID Fresh Food was also targeting revenue of ₹700 crore this year and ₹1000 crore next year as it leveraged its expanded portfolio and expanded in new markets, Musthafa had told Business Insider. The Bengaluru-based consumer brand caters to over 45 cities, through its 30,000 retail stores in India, UAE, US and UK. The iD ghee would be available in one kg pouch ( ₹689), 500gm pouch with spout ( ₹350) and 500gm pet jar ( ₹375), it said on Wednesday. “As preservatives-laden and processed foods increasingly become the way of life, consumers today are keen to make conscious food choices. Pure ghee – is considered to be one of the most nutritionally beneficial products due to its medium-chain fatty acid content,” said <keyword id="5268" type="General" weightage="50" keywordseo="rahul-gandhi" source="Orion">Rahul Gandhi</keyword>, chief marketing officer, iD Fresh Food. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/this-adani-group-stock-has-doubled-in-12-months-and-has-surpassed-market-cap-of-itc-maruti-and-lt/articleshow/93322976.cms">This Adani group stock has doubled in 12 months and has surpassed market cap of ITC, Maruti and L&amp;T</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/swiggy-allows-employees-to-work-outside-company-to-make-more-money/articleshow/93322275.cms">Swiggy allows employees to work outside company to make more money</a>

ID Fresh enters the ghee market, eyes ₹100 crore revenue from the business

<ul><li>Indians have taken the humble samosa and paratha global.</li><li>Indian snack company Bikano made ₹100 crore through exports last year and is confident about seeing a growth of over 25% this fiscal, on the back of its popular <keyword id="1798207" type="General" weightage="20" keywordseo="aloo-bhujia" source="Orion">aloo bhujia</keyword>, <keyword id="447352" type="General" weightage="20" keywordseo="parathas" source="Orion">parathas</keyword>, gulab jamun and <keyword id="6757559" type="General" weightage="20" keywordseo="samosas" source="Orion">samosas</keyword>.</li><li>For iD <keyword id="132468" type="General" weightage="20" keywordseo="fresh-food" source="Orion">Fresh Food</keyword>, its international market already contributes over 30% to its annual revenue and its founder Musthafa believes there’s still a huge demand unmet offshore.</li></ul>There’s a growing appetite for <keyword id="553131" type="General" weightage="20" keywordseo="indian-snacks" source="Orion">Indian snacks</keyword> and food across borders. India’s favourite tea-time snacks such as samosas, aloo bhujia and popular breakfast parathas have made their way to distant shores. The market for these snacks is beyond Indians living abroad. For Indian snacks company Bikano, its international sales contribute about 8% of its total sales. The company is confident that demand for its frozen food and snacks would take up a bigger chunk of its turnover. “Our best-selling markets for Indian snacks and frozen foods outside of India are the USA, Canada, New Zealand, Australia, the European nations, Hong Kong, Dubai, Qatar, Singapore, and Malaysia. In our last financial year, we made ₹100 crore through our exports alone and in the current fiscal, we are expecting a growth of over 25%,” Dawinder Pal, head of marketing at Bikano told Business Insider India. Bikano tested the international waters by targeting the Indian diaspora and soon enough, foreigners also started growing fond of its Aloo bhujia, samosas and parathas. “We have come to notice a change in consumer patterns – for a while now people of diverse origins are showing keen interest in purchasing and consuming Indian products. There is a lot of traction for our products in the Asian community. At present, our key consumers in the international market come from across the board, both of Indian and non-Indian origins,” shared Pal. According to Pal, aloo bhujia, bikaneri bhujia, lajawab mixture, tasty khatta meetha, frozen samosa, tandoori naan and paratha are some of Bikano’s best-selling products abroad. Some of its read-to-cook desserts like gulab jamun and rasgulla have also found a way into international markets. <a href="https://www.businessinsider.in/business/startups/news/id-fresh-food-is-looking-at-better-growth-with-batter-chapatis-and-tavas/articleshow/92854342.cms">iD Fresh Food,</a> the consumer brand known for idli and dosa batters, started its product distribution with the UAE market seven years ago. Now it has set up shop in Saudi Arabia, US and UK. “The international business contributes nearly 30% to iD’s revenue today. In the next two years, our aim is to get the number to 50% and make iD a ₹1,000 crore company,” P.C. Musthafa, co-founder of iD Fresh Food told Business Insider. <div type="image" title="Paratha" msid="93187826" hostid="261" caption="&amp;lt;p&amp;gt;Canva&amp;lt;/p&amp;gt;"></div> Apart from its varieties of parathas, even Indian fresh food batter is gaining popularity offshores. “I strongly believe that Indian fresh food will appeal to a global palate, as long as we make it accessible and aspirational. It has been a long-cherished dream that drives us at iD. People are gradually moving away from junk food, globally, which gives us an understanding that the definition of snack has undergone a massive change over the years,” said Musthafa. After seeing a one-third of its revenue coming from the international market, Musthafa says there is still a huge demand unmet and the market is only growing stronger. As per the Ministry of Commerce and Industry, <a href="https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1842221">India’s export </a>of miscellaneous processed items such as Indian snacks, sauces, starch products, vegetable flours among others witnessed a growth of 36.4% in April-June 2022-23 than the previous quarter in the last fiscal. The share of the food processing industry in India’s total agricultural exports continues to swell up, which is driven by frozen food and snacks. On the back of this demand, Indians have taken the humble samosas and parathas global and the world’s palate will never be the same.

The world is not enough for Indian snacks as the humble samosa has gone global

<ul><li><keyword id="3323332" type="General" weightage="20" keywordseo="id-fresh" source="Orion">ID Fresh</keyword> has granted ₹300 crore worth of ESOPs in the last six years.</li><li>Nearly half of these options have been offered to the junior management.</li><li>About 80% of its workforce comes from rural regions of India.</li></ul>Homegrown fresh food brand ID Fresh on Thursday announced its seventh round of employee stock option plan (ESOP) tranche for 27 employees. The company has granted ₹300 crore worth of ESOPs in the last six years. The company claims that these ESOPs have been distributed across functions and job roles. Nearly half of them are offered to the junior management, which also includes service staff. “Our aspiration is to help create a minimum of 100 crorepatis in the next three years by offering high-value shares at Rs 10/share and attract best talent from the market and retain/reward the existing ones,” PC Musthafa, co-founder and CEO of <keyword id="2577790" type="General" weightage="20" keywordseo="id-fresh-food" source="Orion">iD Fresh Food</keyword>, said in a statement. Founded in 2005, ID Fresh Food is a Bengaluru-based company that sells food products — like idly and dosa batter, parotas, chapatis, curd and paneer — across more than 45 cities in India, US and UAE. It claims that the company provides 89,000 kgs of idly/dosa batter per day. The brand is available in more than 30,000 outlets in India. The company has raised close to <a href="https://www.crunchbase.com/organization/id-fresh-food/company_financials">$100 million </a>to date and is backed by Premji Invest, NewQuest Capital Partners and Sequoia Capital. It is said to be valued over <a href="https://www.techinasia.com/indian-food-startup-id-fresh-food-served-68m-fresh-funds#:~:text=The%20latest%20funding%20takes%20iD,batter%2C%20breads%2C%20and%20curd.">$260 million</a>, as per media reports. It employs 1,500 people. “Over 80% of our employees are from rural India who undergo various skill training programmes at iD including soft skills, effective communication, skills to augment selling etc. This is something that I’m personally involved in and committed to, as I believe, India’s next phase of growth can happen only if we empower the rural youth and provide them with equitable opportunities,” Musthafa added. ID Fresh generated a revenue of ₹294 crore in FY21, as compared to ₹238 crore in the previous year. SEE ALSO <a href="https://www.businessinsider.in/retail/news/your-acs-fridge-and-washing-machines-may-get-cheaper-soon/articleshow/92698315.cms">Your ACs, fridge and washing machines may get cheaper soon</a> <a href="https://www.businessinsider.in/business/corporates/news/indias-biggest-companies-spend-nearly-11-lakh-crore-on-employee-expense-last-year/articleshow/92690317.cms" data-type="tilCustomLink">If you thought techies got the biggest hikes last year, think again...</a> <a href="https://www.businessinsider.in/business/news/no-service-charge-on-restaurant-bill-will-impact-waiters-servers-kitchen-staff/articleshow/92668785.cms">Remember to tip your waiter, there is no more service charge on your bill</a>

ID Fresh offers stock options to another 27 employees, aims to create 100 crorepatis in the next three years

<ul><li>Indian startup Lo! Foods, which is a low carb and keto friendly range of packaged foods brand, is bringing healthy snacking for people. </li><li>These include atta, biscuits, snacks, namkeens and chocolates. </li><li>The startup, which started in 2019 has received $5 lakh funding from top founders and executives of the FMCG and financial investment community. </li><li>The company also announced its partnership with Hyatt Place, Hyderabad.</li></ul>Indian startup Lo! Foods which brings in keto-friendly packed snacks raised $5 lakhs as seed fund. Apart from financers, the startup also attracted top executives of FMCG companies as well as it bets on Indians to buy low-carb snacks. Its angel investors include Anuj Golecha, the co-founder - Venture Catalyst; Raveen Sastry, the co-founder of Myntra, Rashmi Daga, Founder of Freshmenu, Sunil Chhabra, Advisor &amp; Founding Team member, Jumbotail; and Mitesh Shah, the CFO of BookMyShow among others. “Top FMCG and Financial executives coming on board to invest and mentor the company is another strong validation of the prospects we have as an organization. We believe we are now ready to further scale up our operations to the next level,” said Sudarshan Gangrade, the founder of Lo! Foods. The startup producers a range of products includes atta or flour, biscuits, snacks or namkeens and even chocolates which can be eaten by those on a keto diet. Keto diet which involves eating only fats and protein by shunning carbohydrates altogether, has become popular with the increasing number of <keyword id="351691" type="COMPANY" weightage="20" keywordseo="Weight-Watchers">weight watchers</keyword> in India. Desi taste buds The brand created a wide online market on platforms like Freshmenu, Eat Fit along with Amazon, Flipkart and Big Basket. “The Indian taste buds want something desi to munch on, but finding a healthy option is difficult. People do not like to have a granola bar or ragi biscuits with their tea. So, we are to cater to their taste buds with satisfactory and tasty low-carb snacks,” Sudarshan had <a href="https://yourstory.com/smbstory/bengaluru-low-carb-snacks-biscuits-lo-foods-fmcg">told </a>Your Story. The startup also partnered with Hyatt Place in Hyderabad by introducing <keyword id="6877681" type="UNKNOWN" weightage="20" keywordseo="keto-food">keto food</keyword> products on their menu like breads, paranthas, pastas and brownies. “I built my company on products that are very Indian in nature, tasty and healthy. The passion to impact health at scale got me convinced to come up as an advisor,” said PC Musthafa, Founder, ID Foods. See also: <a href="https://www.businessinsider.in/weight-loss-surgeries-grow-100-times-in-last-15-years/articleshow/70780880.cms">Weight loss surgeries grow 100-fold as food-loving Indians take the easy route</a> <a href="https://www.businessinsider.in/humans-have-been-drinking-tiny-plastics-every-day/articleshow/70781384.cms">We are eating, drinking and breathing microplastics — and don’t know how it would affect us</a>

You Searched For "PC Musthafa" and got 6 results

Meet PC Musthafa, the IIM-B alum who brought ‘trust’ into his iD Fresh Foods retail business

Saikat Pyne

ID Fresh Food is looking at better growth with batter, chapatis and tavas

Karuna Sharma

ID Fresh enters the ghee market, eyes ₹100 crore revenue from the business

Eetika Kapoor

The world is not enough for Indian snacks as the humble samosa has gone global

Karuna Sharma

ID Fresh offers stock options to another 27 employees, aims to create 100 crorepatis in the next three years

Kritti Bhalla

A startup that bets on packaged keto snacks and chocolates raises seed funding

Prerna Sindwani

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