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Veeba | Brought foodservice-grade quality control straight into retail

2026.09.19

Article summary

Veeba (VRB Consumer Products Private Limited, formerly Veeba Food Services), founded in 2013, is a condiments maker whose founder is Viraj Bahl. It started with foodservice sauces for fast food chains such as Domino's Pizza and carried that formulation and quality control over into retail products. General retail now accounts for about 70% of revenue, with foodservice below 10%. FY2024 revenue was ₹885.2 crore (1 crore = 10 million rupees), and it's said to have since passed ₹1,000 crore. It sells more than 80 SKUs across 12 categories through about 300,000 stores, and is also carried on Amazon, BigBasket, Blinkit, and Instamart. India's dips and mayonnaise market is said to be dominated by just two brands, this one and Dr. Oetker's Fun Foods (a competitor, not a partner).

This article is based on what we could verify As of September 19, 2026 This page is based on the disclosures and news reports from each company that we were able to confirm as of that date. Amounts in the text follow the notation commonly used in India, with ₹1 crore = 10 million rupees, and yen figures are approximations calculated at a little over 1.7 yen to the rupee. Store counts, funding raised, and results at Indian companies change over short periods, so when making a business decision, please check the latest information in primary sources such as each company's own announcements.

Veeba is a condiment maker founded in 2013. It began by supplying foodservice sauces to fast food chains such as Domino's Pizza, and retail mayonnaise and dips now account for most of its revenue.

Company profile

Item	Details
Legal name	VRB Consumer Products Private Limited (formerly Veeba Food Services Private Limited)
Year founded	2013
Headquarters	New Delhi (registered head office)
Founder	Viraj Bahl
Revenue	₹885.2 crore (FY2024 = fiscal year ended March 2024). It is said to have passed ₹1,000 crore since
Products and channels	12 categories and more than 80 SKUs. Handled in about 300,000 stores
Revenue mix	General retail (independent stores) accounts for about 70%. Foodservice (B2B) is below 10%
Listing	Unlisted

Bringing standards forged in foodservice to retail

Foodservice sauces are made to match the standards a restaurant chain demands. Viscosity, color, spiciness, pH, and shelf life are all set numerically, and every lot has to stay within that range, so every store in the chain tastes the same.

Veeba carried that formulation and quality control straight over into retail products. Its household mayonnaise and dips are made to the same standards as its foodservice line. General trade, mainly independent neighborhood shops, now accounts for about 70% of sales, with the rest split between modern trade and online. Foodservice, the company's original mainstay, is now under 10%.

India's dips and mayonnaise market is said to be dominated by just two brands, this company and Dr. Oetker's Fun Foods. Fun Foods is a competitor, not a partner.

Distribution to about 300,000 stores

Revenue for FY2024 was ₹885.2 crore, and it is said to have passed ₹1,000 crore since. The stores carrying its products have spread to about 300,000, and it is also on online channels such as Amazon, BigBasket, Blinkit and Instamart.

Having more than 80 SKUs across 12 categories shows it's not just one mayonnaise but finely split flavors and package sizes. Indian retail stores are small with limited shelf capacity, so even the same product needs a small-pack version.

Points for Japanese companies

When starting a restaurant business in India, cost structure changes depending on whether there's a local partner that can make sauces and dressings. Importing from Japan adds tariffs and shipping cost and eats into shelf life. Being able to make them locally lets that difference go toward price or profit.

Since Veeba has a foodservice track record, it's a relatively approachable partner for asking whether it can reproduce a Japanese flavor. When reaching out, whether the target flavor can be expressed numerically (salt content, sugar content, viscosity, spiciness) determines how smoothly things proceed. Just saying "make it taste like this" leads to repeated prototyping rounds.