Marico Innovation Foundation (MIF) announced the latest milestone achieved by its Scale-Up Program member, S4S Technologies, as they hit an annual revenue of INR. 100 cr. S4S Technologies is India’s only full-stack food-processing platform that has created a solar-powered dehydration system to unlock value for farmers, industrial customers, and the environment. Sin MIF’s Scale Up Program has worked closely with S4S Technologies since 2019 to help solve their key business challenges. The first innovation to have achieved the soonicorn milestone from the MIF portfolio was Atomberg Technologies in year 2021.
Incepted in 2016, MIF’s rapid acceleration program Scale-Up, provides hand-picked innovations with equity-free support, bespoke mentorship and access to capital and markets. Over the years, the program has supported 50+ innovations to achieve exponential growth.
“Innovations are a vital driver in creating a positive social, economic, and environmental impact for the country. Through MIF’s flagship program – Scale-Up, our goal is to catalyse the growth journey of disruptive innovations like S4S Technologies that are paving the way for India’s new age economy.” said Harsh Mariwala, Founder, Marico Innovation Foundation & Chairman, Marico Ltd.
On its INR 1-100CR growth journey, the Scale-Up Program helped S4S Technologies overcome multiple business challenges through deep rooted strategic and functional mentorship, which helped them build capacity and revenues. The interventions successfully addressed challenges ranging from packaging and procurement inefficiencies to increasing their manufacturing capacities, new product launches to business pivoting from B2C to B2B model.
Vaibhav Tidke, Founder and CEO, S4S Technologies, commented “With Scale-Up program’s deep-rooted intervention and strategic guidance, we are thrilled to have achieved this breakthrough. This association played a critical role in shaping the trajectory of S4S Technologies’ exponential growth. Using this as a steppingstone, we hope our innovation can further disrupt the agri-tech sector through digitalisation and expansion.”
Speaking on the success of S4S Technologies Suranjana Ghosh, Head, Marico Innovation Foundation said, “The bespoke interventions designed by MIF’s Scale-Up Program for S4S Technologies have accelerated their growth and resulted in a direct impact on sustainability and livelihoods. At MIF, we are intentional about the innovations we work with, for each of them to have a similar potential to grow exponentially through our strategic support and contribute to the need of the hour – a sustainable future.”
In addition to the success of S4S Technologies, the foundation also announced the addition of six game-changing innovations that were onboarded to the Scale-Up Program in FY 22-23. The Program works with innovations across sectors like agriculture, food supply chain, circularity in plastics, healthcare, education, and clean technology. These members are driven by a common goal of creating social, environmental, and economic impact at scale.
The six new members in MIF’s Scale-Up Program are:
Founded in 2017
Sector: Clean Energy
A pioneering innovation focused on creating 100% renewable water from air, Uravu Labs harnesses the power of atmospheric moisture and intends to address water scarcity challenges and provide clean, safe drinking water to communities in need.
Founded in 2018
Committed to sustainable water management through their advanced techniques and comprehensive solutions, Indra Water is focused on conserving water resources, improving water quality, and ensuring a sustainable water supply for future generations.
Founded in 2018
Headquarter: New Delhi
Dedicated to reducing food waste and its environmental impact by transforming waste food into high-quality animal feed, Wastelink offers an innovative solution that not only mitigates waste but also addresses the challenges of feeding livestock sustainably.
Founded in 2016
An inclusive insurance provider focused on rural India with a mission to protect farmers and vulnerable populations from climate risks, Gramcover offers accessible and affordable insurance solutions tailored to the unique needs of rural communities.
Founded in 2012
Sector: Food tech
This innovation specializes in sustainable refrigeration solutions for perishable food items. By implementing energy-efficient and environmentally friendly technologies, New Leaf Dynamic aims to reduce food wastage and ensure the freshness and safety of food throughout the supply chain.
Founded in 2019
The start-up provides cost-effective post-harvest solutions to extend the shelf life of fruits and vegetables during storage and transport. They are committed to the United Nation’s Sustainable Development Goal of halving food waste by 2030