Viraj Bahl: Man who sold his home, faced Setbacks before the success of Veeba foods
Who is Viraj Bahl?
Viraj is the founder and Managing director of one of the biggest fast-moving consumer goods brands Veeba Foods. They are Sauce Manufacturers brand. The company started in 2013 and now become a known market player in the food industry. But the road to success is seldom smooth, especially in the entrepreneurial world, where every venture is a gamble and every setback feels personal. For Viraj, that road was paved with challenges, heartaches, and moments of intense self-reflection. His story is a testament to perseverance, courage, and the sheer will to rise from failure and build something extraordinary.
Finding multibagger stocks is important for building wealth. Discover potential multi-baggers at Sovrenn Discovery.
Early days
Viraj Bahl's journey into the food industry began in 2002, but his interest was sparked much earlier during visits to his father’s factory and their Fun Foods stall at Aahar Delhi (his first job). His passion for the business grew over time, and he expressed his desire to join it. However, his father, Rajiv Bahl, insisted that Viraj should first prove himself capable of providing the same life for his family. Determined to meet this challenge, Viraj aimed to pursue food technology but was disappointed by his marks.
Shortly after his 12th exams, while feeling uncertain about his future, he came across an advertisement for a marine engineering course in the newspaper.. He studied hard, cleared the entrance exam, and was selected among 46 students. After completing the 3.5-year course, Viraj secured a well-paying job, fulfilling his father’s wishes. Once he felt accomplished, he left his job and asked his father’s permission to finally join the family business, which was then granted.
He joined his family’s food processing business in 2002, Fun Foods. Under the leadership of his father, Rajiv Bahl, Fun Foods was growing rapidly, and Viraj played a significant role in its success. Together, they shaped it into a recognizable name in the Indian market.
However, despite Viraj’s attachment to Fun Foods and his vision for its future, life had different plans. In 2008, after six years of hard work, the company was sold to Germany's Dr. Oetker for a reported sum of Rs 110 crore. This decision came against Viraj’s wishes—he was passionate about the business and wanted to grow it further. Yet, the deal went through, leaving Viraj at a crossroads. This moment proved a turning point in his entrepreneurial journey. Viraj had to figure out what came next.
Investing has built huge wealth for several HNI investors. Learn investing FREE OF CHARGE at Sovrenn Education
The Restaurant Dream
Viraj decided to pursue a new venture. In 2009, he stepped into the restaurant industry, taking a leap of faith and investing in what he thought would be a thriving business. He imagined this new path would help him regain his footing and continue his love for food. However, the restaurant business did not turn out to be the success he had envisioned.
By 2013, Viraj’s restaurant was grappling with declining customers and mounting losses. The financial pressure was immense, and he faced a difficult dilemma. It was a low point in his life, where self-doubt and frustration threatened to overpower his entrepreneurial spirit. Yet, deep within, Viraj knew that his journey was far from over.
Selling His Home for Dream: founded Veeba foods
He faced mounting losses and a bleak future. Viraj made a decision that changed the course of his life. At this point, when most people might have given up, he made a bold and heart-wrenching choice—he sold his home. This was not just a financial transaction but a symbolic moment where he traded his security for the hope of rebuilding his dream.
He got Rs 50 lakh from selling his house, Viraj ventured back into the food processing industry, determined to carve out a new path. In 2013, he founded Food Services with a small setup in Neemrana, Rajasthan and named it Veeba after his mothers name. His experience from Fun Foods and his understanding of the food market gave him a foundation to start again, but the struggle was far from over.
Building Veeba: From Small Beginnings to Industry Leader
Veeba’s early days were marked by uncertainty. Viraj initially focused on B2B sales, supplying unique sauces and condiments to fast food chains. Those first six months were especially difficult with minimal demand and no financial cushion to fall back on. However, just when it seemed things couldn’t get worse, a glimmer of hope appeared in the form of an investment from Deepak Shahdadpuri of DSG Consumer Partners. This timely investment gave Viraj the push he needed to expand operations and stabilise his business.
Slowly but surely, Veeba started gaining traction. Large orders from fast-food giants like Domino’s and KFC helped Viraj’s company establish itself as a serious player in the industry. What had started as a B2B venture with a few products gradually blossomed into one of India’s leading retail brands in sauces and condiments.
Also Read: From Aspiring Singer to Financial Guru: The Journey of CA Rachana Ranade
Viraj’s persistence began to pay off in a big way. By 2023, Veeba had grown from its modest beginnings to become the largest homegrown sauce and condiments brand in India, with a revenue of Rs 811 crore in FY23. From working with a handful of fast-food chains, the company now operates in over 700 cities, with 1.5 lakh retail points and a portfolio of over 80 products spanning 14 categories.
Today, Veeba’s revenue comes largely from retail, with 92% of its earnings generated from this sector. The company has moved beyond sauces and condiments and expanded its range to cater to the ever-evolving taste of Indian consumers. Viraj’s vision didn’t stop at the domestic market; Veeba has successfully ventured into international exports, with a presence in Australia, Singapore, China, and the USA. In the years to come, Veeba is on track to exceed Rs 1000 crore in revenue, with plans to diversify further.
Viraj Bahl’s story is not just one of business success; it is a narrative about determination, resilience, and a relentless belief in oneself. His decision to sell his home for a business idea that had no guarantee of success was a gamble few would take. But it was precisely this sacrifice and his ability to learn from past mistakes that set him apart from others.
Despite the hardships, Viraj never gave up. He rebuilt his life from the ground up, using the lessons he learned during his Fun Foods and restaurant days to propel Veeba into a household name. Viraj’s journey shows that success is not just about financial gain—it’s about taking risks, enduring setbacks, and believing that even in the darkest of times, there is always a chance for a fresh start.
Also Read: Sachin Bansal: The Entrepreneur Who Never Gave Up, founded startups like Flipkart and Navi
Written by Manvi