Draft:Viraj Bhal
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Viraj Bahl (Indian entrepreneur)
Viraj Bahl (born 1980) is the Founder and Managing Director of Veeba, a domestic food brand. After briefly exploring a career with the global shipping giant Maersk in Denmark for two years, his passion for food led him back to India. In 2013, Viraj founded Veeba – a group managing condiment and sauce companies. Veeba supplies to major players in the Quick Service Restaurant (QSR) industry and to global coffee chains.
Education
Viraj holds a degree in Industrial Engineering from Singapore Polytechnic.
Career
In 2002, 22-year-old Viraj joined his family’s food processing business, Fun Foods, which manufactured and marketed processed foods such as oriental salads, spices, pizza toppings and mayonnaise.In 2008, the global financial crisis compelled the family to sell Fun Foods to the German packaged food company Dr Oetker.
In 2009, with part of the proceeds received from the sale of Fun Foods, Viraj launched a chain of restaurants under the brand name, Pocket Full. More than four years later, in 2013, the restaurant chain was closed as it didn’t keep the cash registers ringing. The failed enterprise meant Viraj was left with zero funds since he had invested all his money in this venture.
At this point, he took a risky gambit. Selling his house, Viraj invested this money in a new food processing business, Veeba. Buying a 35,000 square feet plot of land in Neemrana, Rajasthan, he set up Veeba’s first factory to make sauces and condiments while opting for the B2B route to drive sales.
Six months later, although the factory produced ketchup and mayonnaise, demand was negligible. The first year was the most challenging because only small orders came in whereas big numbers were needed to keep the machinery well-oiled and running. However, an early-stage venture capital firm, DSG Consumer Partners, made the first investment in Veeba in 2013. The timely infusion of funds helped Viraj tide over this early crisis. Three months later, an order of 70 tonnes from Domino’s was followed by more from KFC, Pizza Hut, Taco Bell and other QSR outlets.
The company currently has two production units in Rajasthan producing sauces, spreads and condiments while catering to pan-India demand. Viraj has strengthened Veeba’s foothold in the B2B space via partnerships with more brands such as Domino’s Pizza, Burger King, Dunkin’, PVR, Popeyes and Nandos, to name a few.
He has also augmented its B2C presence in general and modern trade as well as through online retail channels. With more than 85 products on retail shelves, the distribution network covers 700-plus cities, with 300-plus stock-keeping units and 200,000 retail points. Veeba’s retail distribution now accounts for 92% of revenues while only 8% is contributed by B2B. As Viraj emphasizes R&D, the Veeba team has more than 80 food technologists, 30-plus chefs and over six food scientists.