8 November 2023


In recent years, FOSS has set up a successful business in India providing state-of-the-art food analysis instruments to improve quality, reduce waste and improve yields. IFU provided equity and business insights in connection with the establishment of the company and is now selling its shares.

India is one of the world’s largest producers of grain and milk, having an ambition to further increase quantity and improve quality. This is a good fit with FOSS being a world leading company providing end-to-end solutions securing and improving food quality, reducing waste and creating higher yields.

The analytical technologies used in FOSS’ instruments are state-of-the-art and cover spectroscopy, spectrometers, x-ray, flow cytometry and chemometrics, amongst others. They are applied in a variety of industries and products such as testing and measuring of milk, dairy products, grain, oilseed, feed, meat, wine and beer.­­­

Creating comfort in the Indian market
In 2017, IFU invested share capital in a new set-up, FOSS India Private Limited. The purpose of the establishment of the company was to gain a stronger foothold in the Indian market and assist Indian farmers and producers in optimising their output throughout the value chain.

Besides share capital, IFU has provided local business insight based on several years of experience in the Indian market and professional local staff. Moreover, IFU has served as board member in the company.

“IFU has been a solid partner in building our new set-up in India. By providing share capital they have shared the financial risk, and their experience in India has provided a lot of comfort to our business.”

Henrik Wiboltt, Senior vice President of Sales at FOSS.

IFU is selling its shares
During the years, IFU has made more than 100 investments in private sector companies in India across several sectors, with and without Danish business partners. The ambition is to provide risk capital and advice for companies to become commercially sustainable and create  a positive impact in the investment countries. When this has been achieved, IFU exits the company and reinvests the capital.

Having been a part of FOSS’ positive journey in India during the last six years, IFU is selling its shares to FOSS and moving on to make new investments.

“FOSS is a professional and state-of-the-art company having the right products for assisting the Indian producers in becoming better and more successful. In that sense our partnership has been a perfect match with our aspiration of being a best-in-class commercial impact investor,” said Deepa Hingorani, Senior Vice President, Head of Financial Services and Asia, IFU.