Former India international cricketer Yuvraj Singh has invested an undisclosed amount into the local dairy start-up Greto.
The ice cream, yogurt and snacks company is owned by Gurugram-based start-up Mahu Tasty Foods which was launched in March.
Singh has become a stakeholder in the company, which is still actively seeking more funding. He will also support the brand in its promotional activities.
The ex-international said: “I am happy to join Greto as a promoter and investor. My journey in the world of sports has taught me the importance of dedication, perseverance, and teamwork and I can see all these values resonate strongly with what Greto represents.
“Investing in Greto is not just about endorsing a brand; it is about supporting a vision. My decision to join Greto as a promoter and investor is rooted in a shared commitment to excellence and a passion for innovation, as I believe in the power of unforgettable experiences. I look forward to being a part of Greto’s exciting future and to witnessing the positive impact it will have on the world of food and beverages.”
In the coming months, Mahu Tasty Foods plans to set up a franchise network for Greto. The company is aiming to open 100 Greto franchises in the next year, starting with Delhi-NCR (National Capital Region).
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It also plans to expand the franchise network to Punjab, Himachal Pradesh, Rajasthan and other unspecified states across the country.
Mahu Tasty Foods’ co-founder Abhishek Rao said: “We have invested substantial time and effort in studying market conditions, identifying trends and pinpointing opportunities that resonate with our brand. This has allowed us to chart a way forward that not only capitalises on current market dynamics but also positions Greto as a frontrunner in the industry.”
“We are fully responsible for both the manufacturing and meticulous packaging of our products. So, our franchise partners can be sure of quality and consistency in the products. Setting up a Greto franchise store will require an investment of approximately Rs2.5m-3m ($30,000-36,000). This encompasses various factors, including location, store size, interior set-up, equipment as well as initial inventory and operational costs”, Rao added.
Earlier this year, another Indian international cricketer invested in a food start-up when Hardik Pandya became a stakeholder in instant food brand Yu.