Himalayan Food is a business venture registered with equity crowd funding, and it has been able to raise its fund before deadline. The other venture to do so earlier was Bhutan Alternatives.
Himalayan Food raised Nu 4.5 million (mn) from crowd funding. The founders of Himalayan Food are Bikash Gurung and Tshering Dorji. They are graduates from Gaeddu College of Business.
Bikash Gurung said, ‘We participated in Business Idea Competition of Bhutan (BICOB) from where we also got awarded for the business, so these things actually motivated us to venture into this business. This is how our college project turned into an actual business.”
They currently employ 10 people, and with the funds now available, they plan to employ around 30 people or more in 3 months’ time. There are 40 farmers affiliated with them, but now they will be creating a market for more than 300 farmers.
Procuring reliable technology from other countries is also their utmost priority. They will be investing in food packaging and processing machines.
Bikash Gurung said, ‘’ We chose food business, not only because it is profitable for a country like ours, but also because during our college days, we saw farmers having really tough times selling their products in the market. We thought of adding value to their products and that is how the idea came forward.”
He also added that the mission of the business is to produce healthy and quality snacks with a worldwide reach.
He said Himalayan Food is a guaranteed market for the farmers if they can supply the standard quality farm produce required by the company. A warehouse is being planned so farmers can bring their produce to sell at the warehouse instead of manufacturing unit.
A total of 125 investors hold the shares in Himalayan Food amounting to Nu 4.5 mn with face value of Nu 10 per share. Himalayan Food currently produces potato chips, apple chips and banana chips. There are plans to diversify their products into health fruit snack category as such food demands are increasing in the international market.
The founders are most thankful to His Majesty The King for making it all happen. RMA and RSEB also helped turn their idea into a reality.
RSEB CEO, Dorji Phuntsho, added that there are many ventures in the pipeline waiting to register with crowd funding model. ‘’We know the loopholes of where it needs to be plugged. Accordingly now whoever comes for campaigning, we will advise them well and ask them to do marketing and go all out because entrepreneurs should be serious and give their everything. We will try to bring in this seriousness, then their seriousness will be recognized.’’