I ordered from Burger King🍔 and noticed the Veeba sauce that comes with it. Didn't know Veeba had a B2B 'Food Service' segment —turns out, this was their first offering. Veeba operates in two verticals - a) B2B 🍽️ → 'Veeba Food Service' (~8-10% of revenues) – Supplies condiments to Domino’s, Burger King, Chaayos, Theobroma, Taj, and more. b) B2C🛒 → Sells ketchup, mayo, dips, spreads, and six more product categories for home use. From raising a $1.6 M seed in Dec '12, Veeba is now present across 700+ cities, posting strong growth and recording its first profit⤵️ FY24: ₹820.7 Cr revenue (+48%) | ₹28.8 Cr profit. Here's a rough look at India's sauce market - ⏭️Viraj Bahl gave an interesting insight → When top QSRs like Burger King, Domino's, and McDonald's introduce new foods, consumers try to replicate the flavor at home — acts as key growth driver in the non-ketchup segment.
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