Private equity firm Advent International-backed Eureka Forbes has named former Jubilant Foodworks CEO Pratik Pota as its new chief executive officer, effective August 16. Separately, Wheelocity, an India-based supply chain firm, has raised $12 million in a Series A round led by Lightspeed.
Former Jubilant Foodworks CEO joins Eureka Forbes
Private equity firm Advent International-backed Eureka Forbes named former Jubilant Foodworks CEO Pratik Pota as its new chief executive officer, effective August 16.
In the new position, Pota replaces CEO Marzin Shroff, who has been at the helm for five years and will move to a new role as senior advisor to Advent International and Eureka Forbes.
Shares of Eureka Forbes have climbed more than 11% to Rs 411.50 since the announcement.
While at Jubilant Foodworks, Pota significantly accelerated the growth of the Domino’s franchise and expanded EBITDA margins to record highs, the company said in a statement. Under his leadership, the brand portfolio expanded, and the company entered new markets, including Bangladesh and Turkey.
Eureka Forbes, known for its Aquaguard water purifier and vacuum cleaner, was formerly part of the Shapoorji Pallonji Group before being sold to private equity player Advent International. In 2021, Advent bought a controlling stake in Eureka Forbes for ₹4,400 crore.
Before JFL, Pratik held leadership roles at PepsiCo, Airtel and Hindustan Unilever Ltd in a career spanning more than 30 years.
Wheelocity raises $12m led by Lightspeed
Wheelocity, an India-based supply chain firm, has raised $12 million in a Series A round led by Lightspeed.
The funding round, done through a mix of equity and venture debt, saw participation from Anicut Capital and other investors.
Founded in 2021 by Selvam VMS, Senthil Kumar and Amresh Singh, Wheelocity provides supply-chain solutions for those that deal with fresh produce.
The company works with grocery and condiments delivery platforms such as Swiggy Instamart, Dunzo and Blinkit, among others.