Indian Frozen Food Company Chevon Agrotech Raises Funding from Singapore-based Fund Greenfield Advisory
With the growing popularity of goat meat as a Superfood, Chevon sets its sights on domestic and international expansion in the Middle East and South-East Asia
Chevon Agrotech Private Limited, an integrated frozen food company has received its latest round of funding from Singapore-based investment management firm, Greenfield Advisory with a significant million-dollar investment value. Advisors to this deal were Polymath Advisors Pvt Ltd. Chevon will allocate a portion of the acquired funds to expand its senior management team and develop new products. With plans to enhance its reach to all major markets in India, the company will also utilise the funds to launch marketing campaigns, ramp up distribution and drive its international foray in the Middle East and South-East Asian markets. A major driver behind Chevon’s international expansion is the rising popularity of goat meat as a Superfood and the vast global potential this untapped market presents.
Chevon Agrotech is a leader in the goat meat segment with solely-owned livestock farms & processing facilities in the country. Quality, the byword at Chevon, underpins all its operations. The company has two main brands of goat meat products, namely Chevon and KUZO. In the premium segment, Chevon offers two frozen product categories, namely Raw and World Cuisine Heat N Eat, while the KUZO brand offers ready-to-eat products under the Fry N Eat range. Besides these, Chevon offers institutional packs of the Raw and Ready to Cook range of products for the HORECA segment. Chevon processes products to the tune of one ton per day and its most popular products include Raw Boneless, Raw Minced, Turkish Kebabs, Cheeseburger, and Moroccan Sausages.
Chevon’s processing & cold storage facility, located in Navi Mumbai, is approved by the APEDA and FSSAI and is equipped to undertake state-of-the-art processes such as blast freezing, plate freezing, chilling, packing, and cold storage. Chevon’s USP is its 80-20 process, wherein only 80 percent of the best cuts are selected to be finally packed.
Goat meat is the latest addition to the list of Superfoods this year and it is all set to shake up diets and cuisines across the world. Goat meat’s status as a Superfood is owed to its being high in protein and iron, while being very low in fat, making it a great source of nutrients for meat eaters. The fat content of goat meat is also 50% lower than other types of red meats and is 40% lower in saturated fat compared to chicken. Studies have also shown that consuming goat meat reduces the risks of coronary diseases, helps prevent cancer, improves cholesterol levels, lowers the risk of obesity, and keeps the body healthy.
Commenting on the announcement, Rizwan Thakur, Founder and CEO, Chevon Agrotech said, “We are indeed thrilled at the trust that Greenfield Advisory has placed in our brand, our product and business model. The funding received will help us capitalise on the vast global opportunity in the goat meat segment, and promote our products in India, as well as internationally, as a high-quality source of protein with minimal impact on the environment. Also, goat meat being recognised as a Superfood further validates our brand’s message which has further been bolstered by Greenfield's investment.India and the world need this source of protein to be made more readily available and we’ll be leveraging the capital raised in that direction. Moreover, our products are among the best in the market and we ensure a consistent superlative quality across our entire product range by only following the best and approved practices through all stages from production to packaging.”
Deepak Mishra , CEO Greenfield Advisory said, “As an investment management firm, we actively seek opportunities for early-stage investments into fast-growing sectors for funds we manage. We are pleased to partner with Chevon to help build a sustainable goat meat business which has established health benefits and a widespread preference in India. Further, it offers us a unique opportunity to provide consumers with high-quality, protein-rich meat with the convenience of use in various categories.”
Greenfield Advisory advises institutional and accredited investors in managing investments. It endeavours to explore opportunities in emerging markets such as South-East Asia, by way of both active and passive investments such as private equity and hedge funds and invest in public as well as private markets.
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