Extracting essence from a good business idea

KOCHI: Experience and innovative ideas go a long way in ensuring the success of a business. This is what stood the stead for Boby Kizhakkethara, CEO of Kerala Remedies, a globalized phyto-nutraceuticals startup company. The company specialises in the extraction and processing of essential oils, arachidonic acid and Omega-3 fatty acids from marine and plants in oil and powder form.

The company which started on a seed investment of around ` three crore, today is making a turnover of ` one crore per annum.

Boby's 20 years experience working in an ayurveda and a natural essence extraction companies came in handy when he decided to set up a company. "I decided that instead of following a single path like setting up a company that produces whole ayurveda medicines or just extracts one particular essence, it would be lucrative to combine both. This led to the setting up of Kerala Remedies that produces around 15 ayurvedic products," said Boby.

"The concept is based on nutraceuticals, which is very well known mode of medicine outside India. However, these are just based on plant extracts and have no connection with the ayurvedic mode of treatment. This is where the products developed by my company stands apart," he said. One of their most priced products is curcumgra, a product based on turmeric extract.

"The product is priced at ` 950 for a bottle of 60 capsules. It takes around 20 kg of powdered turmeric to make 900 gm of extract. Also, the tedious process behind its extraction makes it a costly affair. We grow Alleppey finger turmeric on our farms to supply our manufacturing unit. Hence, the quality is ensured in every way," he said. Another of their valuable products is the Blacumin, which a soft gel that contains essential oils from black cumin and flax seed.

The company also has a research and development wing called Bodina. "Every wing of the company is based in KIRBS BIONEST. The products developed and marketed by our company is prescribed not only by the Ayurveda practitioners but also allopathic doctors," he said. The quality of the products is tested thoroughly at the BIONEST facility before it is marketed.

According to Boby, the company has a panel of doctors including the CEO of BIONEST Dr Saji George that verifies the usefulness and quality of the products. "Our products are being sold in Germany and Russia presently, besides the domestic market. We will begin shipping to the US next month. The demand for nutraceuticals is increasing not only in the country but also globally. So, this is a market that is all set to boom in the coming years," said Boby.