Fabmart founders are back with their new venture

Twenty years after launching India’s first e-commerce company Fabmart.com, Vaitheeswaran K and Sundeep Thakran, are now back with the intent of disrupting the beverage industry.

Their new venture, AGAIN makes ready-to-drink beverages without any preservatives, colouring or artificial sweeteners. The duo on Wednesday unveiled low-fat milk or yoghurt-based drinks which have a high content of fruits and vegetables, while still retaining a 90-day unrefrigerated shelf life.

“We’ve worked on this product for more than 18 months, engaged with top labs and institutes in India and people with significant experience in creating food and beverage products for MNCs to create this,” said Vaitheeswaran.

He said, AGAIN will compete in the non-aerated beverage market which is expected to grow to Rs 15,000 crore by 2023, with the company targeting a 2.5-3% market share by then which would amount to Rs 500 crore. For now, the brand has piloted its products in 50 stores across Bengaluru and will available in 150 stores in a couple of months.

AGAIN has so far partnered with Namdhari’s Fresh, Godrej Nature’s Basket and online grocer BigBasket, with a slew of partnerships coming up. Currently the company is utilising two manufacturing facilities - Nilgiris Dairy Farm in Bengaluru and Quality Milk Farm near Kanchipuram, Tamil Nadu, for producing its beverages.

AGAIN has filed for two provisional patents, one for its process and another for its formulation. The founders said they’d look at applying for a more detailed patent in markets such as the US, Europe and Japan.

Vaitheeswaran, who has been critical of startups burning cash and discounting, said, AGAIN will be built with a focus on profitability. For now, the company has raised a few lakh rupees from friends and family but is looking at venture funding to expand its business in the near term. It is also looking to set up its own manufacturing facility in under a year.