In 2009, Viraj Bahl decided to take a leap of faith and ventured into the restaurant business. This decision did not turn out to be fruitful for him as by 2013, his business was grappling with the challenge of few customers frequenting the place, leading to a financial burden.
The road to success is often paved with years of hard work and perseverance. Setbacks in business can be demoralising and put entrepreneurs in tough situations. However, there are some individuals who learn from these failures and harness their experiences to build something extraordinary. The story of Viraj Bhal, founder of Veeba is also similar. When he faced a major setback in his entrepreneurial journey, he refused to give up and bounced back from failures ultimately leading him to remarkable success.
Viraj started his entrepreneurial journey by joining his family’s food processing business, Fun Foods in 2002. After running the thriving business for about six years, Viraj and his father Rajiv Bahl sold Fun Foods to Germany's Dr Oetker for reportedly Rs 110 crore in 2008.
In 2009, Viraj decided to take a leap of faith and ventured into the restaurant business. This decision did not turn out to be fruitful for him as by 2013, his business was grappling with the challenge of few customers frequenting the place, leading to a financial burden.
According to India Success Magazine, when Viraj was facing financial hardship, he took the bold move of selling his house to venture again into the food processing industry. Stepping his first foot into this new beginning in 2013, he founded Veeba in a small area in Neemrana. Focusing primarily on B2B sales, he started providing an array of unique sauces and condiments.
The initial six months saw the setting up of a factory and minimal demand. However, an investment from Deepak Shahdadpuri of DSG Consumer Partners proved to be utterly essential.
Veeba saw remarkable growth when they received large orders from top fast food chains. Currently, 8% of Veeba’s revenue is from B2B, counting Domino's, Burger King, Pizza Hut, and KFC among its major clients. Whereas 92% of the revenue comes from retail.
Over the years, Veeba has become one of the leading condiments and sauce companies in India. They now boast 300 plus SKUs and have an expansive distribution network across 700 plus cities in the country.
The company has also ventured into the export market including Australia, Singapore, China, and USA.
According to Forbes, Veeba touched a whopping Rs 811 crore revenue mark in FY23 and posted a loss of Rs 0.5 crore.
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