Nilgai Which is Leading in the FMCG Race, is all Set for Global Expansion
Nilgai Foods, a city-based FMCG startup, is tapping the institutional segment to drive sales and is looking to raise about USD 10 million to fuel its expansion across the country, a top company official said.
The company's current institutional sales is about 10 per cent of the revenues but in 3-4 months our plan is that it should start contributing 60 per cent. Over the last one year we have been very focused on developing ultra-large institutional plants. Cocofly, which started selling on Vistara Airlines, got a good response and the company is in discussion with other airlines and Railways for sales. The fledgling company is aiming for a turnover of Rs 8 crore this fiscal and targeting around Rs 20-30 crore from institutional sales next year, while eyeing total revenue of Rs 50 crore. Focused on the Delhi-NCR market at present, the company is looking to raise around USD 10 million to fuel its expansion.