India, Sept. 29 -- Ex-Soulfull managing director and cofounder Prashant Parameswaran has launched Arovia Consumer, a new ecommerce rollup venture that intends to acquire controlling stakes in established regional packaged-food businesses.

The new venture has secured a Rs.100 Cr capital commitment from Fireside Ventures, with the investment to be drawn down as Arovia closes acquisitions.

The startup is initially targeting to acquire majority stakes in two to four regional packaged businesses and subsequently working with their promoter families to scale beyond their home markets. Parameswaran expects additional capital to be infused as the portfolio expands.

The startup is expected to ramp up its amalgamations in the next 6-12 months an...