What F1rst does

F1rst (legally Firstmr Business Analytics Private Limited) is a privately held business research and consulting firm headquartered in Coimbatore, Tamil Nadu, India, with operating presence since 2010 in the Indian sub-continent. The firm serves food and beverage ingredient companies, ingredient suppliers, food processors across starch, dairy, confectionery, bakery, savory, beverages, and supplements, as well as international ingredient players seeking entry into India. Core offerings are organized around four service pillars: Market Research (supply-demand-forecast analysis, competitive evaluations, opportunity assessments, R&D priorities), Advisory Services (M&A support, market entry strategies, technical and commercial feasibility, operations restructuring, data analytics), Innovations Platform (GiTEx table-top exhibits, Starch Forum and PITF conferences, webinars, academic outreach), and Technology Platforms (FarmF1rst blockchain-based Agri-Tech marketplace and F1rstData AI/ML/DL/NLP analytics platform). Adjacent offerings include New Product Development services in collaboration with Siddharth Starch, TooTLabs crowd-sourced innovation, EventSys event management software, the F1rstMart report storefront, and academic courses (Masterclass on Processed Indian Traditional Foods, Sugar Reduction Reformulation course with Zydus Wellness Institute, Food Label Course).

The firm's go-to-market is sales-led and event-driven, combining direct consulting engagements, recurring conference and table-top exhibition series held across major Indian cities since 2010, and webinars hosted on GoToStage. Revenue is diversified across six streams: one-time licensed multi-client market research studies, project-based advisory retainers, event registration and sponsorship fees, one-time online course fees (INR 499-9,999 per seat), subscription or recurring technology platform monetization for FarmF1rst and F1rstData, and freemium newsletters (IFBMT and GEMMT) used for lead generation. Cumulative scale signals include 800+ global customers, 250+ long-term contract clients, 30+ demand sectors covered, 250+ ingredients analyzed in the past 12 months, 200+ new products registered annually, and 100+ events conducted to date. The company maintains a strategic business associate relationship with Giract Switzerland and a partnership with MoFPI, and is privately held by founders Badrinath Raghavendran, Kaushik Shankar, and Vignesh Raja with no disclosed external funding.

In 2020 F1rst restructured to refocus on core competencies, adding technical services to its portfolio, and in 2021 established an Energy & Mobility division covering electric vehicles, battery, and clean energy sectors. The technology stack is described as using AI, ML, DL, NLP, Big Data Analytics, IoT, and blockchain, though public validation of proprietary AI depth is limited.

Name

F1rst

Legal name

Firstmr Business Analytics Private Limited

Website

https://firstmr.com

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

11–50 employees

Short description

F1rst is an India-based business research and consulting firm specializing in food and beverage ingredients, serving global ingredient companies, processors, and international players seeking entry into the Indian sub-continent since 2010 through market research, advisory, events, and technology platforms.

Ownership category

akta.pro rank

Headquarters

HQ city

Coimbatore

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Marketing or Sales, Operations, Technology or R&D, Infrastructure

Revenue model

1. Multi-client Market Research Studies: Detailed market studies on specific food ingredients (e.g., Carrageenan, Corn Oil, DDGS, Fats and Oils) available for purchase. Clients receive comprehensive supply-demand analysis, market insights, and competitive evaluations.
2. Advisory and Consulting Services: Confidential, personalized consulting engagements including competitive evaluations, SWOT analysis, opportunity assessments, R&D priorities analysis, market entry strategies, and technical/commercial feasibility assessments. Revenue from individual project-based consulting.
3. Academic Programs and Courses: Online courses including Masterclass on Processed Indian Traditional Foods (INR 999), Food Label Course (INR 499-1999), and Sugar Reduction Reformulation Expert Course (INR 999). Delivered through TooTLabs LMS platform.
4. Events and Conferences: Revenue from conference registrations, sponsorships, and table-top exhibitions (GiTEx). Includes Processed Indian Traditional Foods (PITF), Starch Forum, and sector-specific events.
5. Technology Platforms: FarmF1rst and F1rstData platforms offered as digital solutions for Agri-Tech and Retail Food Industry. Custom solutions for distribution efficiency, forecasting, and supply chain optimization.
6. Newsletters: Indian Food & Beverage Market Trends (IFBMT) and Global Energy & Mobility Market Trends (GEMMT) newsletters offered free to subscribers, potentially supporting lead generation.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels7 records

Core offering

F1rst is a B2B business research and consulting firm providing customized market intelligence, advisory, and technology solutions to the food and beverage ingredients industry, with a primary focus on the Indian sub-continent. The company delivers multi-client market studies, confidential consulting engagements (competitive evaluations, market entry strategies, R&D prioritization), industry networking events (GiTEx, PITF, Starch Forum), technology platforms (FarmF1rst blockchain marketplace and F1rstData analytics), new product development services, and academic outreach programs for food industry professionals.

Product overview

F1rst is a business research and consulting firm specializing in the Indian food and beverage ingredients space since 2010. The company offers a portfolio of interconnected services organized around four core pillars: Market Research Services (customized studies including supply-demand analysis, opportunity assessment, and competitive evaluations), Advisory Services (consulting, R&D support, operations restructuring, data analytics), Innovations Platform (GiTEx table-top exhibits, Starch Forum and PITF conferences, academic outreach, webinars), and Technology Platforms (FarmF1rst blockchain marketplace, F1rstData AI/ML-powered analytics platform). Additional offerings include NPD services, Energy & Mobility consulting, TooTLabs innovation platform, EventSys event management, F1rstMart digital marketplace for market reports, and academic programs (Masterclass, Sugar Reduction Reformulation Course, Food Label Course). The technology offerings utilize AI, ML, deep learning, NLP, Big Data Analytics, IoT, and blockchain technologies.

Differentiator

Problem solved

Functional benefit

Brands

• TooTLabs: Student-based app and academic outreach platform powered by F1rst, enabling crowd-sourced innovations in the food industry by connecting food companies with Indian academia and young minds.
• FarmF1rst
• F1rstData
• F1rst Energy & Mobility

Products and services

• Market Research Services Customized market research services for the F&B ingredients space, including supply-demand-forecast analysis, opportunity assessment, R&D priorities assessment, competitive evaluations, market entry strategies, and partner search for Indian sub-continent markets.
• Advisory Services Confidential, personalized consultancy including benchmarking, market and SWOT analyses, competitive evaluations, M&A support, market entry strategies, and technical and commercial feasibility assessments for Agri and Food Industry clients.
• NPD (New Product Development) Services Multi-stage new product development service covering lab scale testing and tasting, factory trials and product stabilization, and starch production and stabilization in collaboration with Siddharth Starch.
• Energy & Mobility Research and Consulting Research and consulting division focused on emerging topics including electric vehicles, battery, clean energy, technology, end-use applications, regulatory perspective, and adoption challenges across global markets.
• F1rstMart Digital marketplace for F1rst's market reports, insights, and whitepapers including multi-client studies on various food ingredients, sold online via firstmr.com/store.
• GiTEx Table-Top Exhibitions Table-top exhibits providing convenient and cost-effective interaction between ingredient suppliers and processors for ingredients, processes, and packaging, organized in various Indian cities since 2010.
• Starch Forum Conference Annual conference series bringing together starch industry stakeholders including end users, suppliers, distributors, R&D institutions, government organizations, and analysts.
• PITF (Processed Indian Traditional Foods Conference) Annual conference platform discussing development of processed Indian traditional foods, bringing together experts from agriculture, R&D, supply chain, food ingredients, and policymakers.
• Masterclass in Processed Indian Traditional Foods A 10-hour masterclass with 9 topics plus quiz covering market research, traditional techniques, modernization, food process engineering, safety, regulatory perspective, and innovations in traditional foods, followed by 1-month internship.
• Sugar Reduction Reformulation Expert Course Comprehensive online course on sweetener science and sugar reduction reformulation through non-nutritive sweeteners, delivered in collaboration with Zydus Wellness Institute.
• Food Label Course Online course covering objective and issues of food labels, elements in food labels, future of food labelling, and FSSAI labelling requirements, delivered via TooTLabs LMS Platform.

Quantifiable outcome

• GiTEx Table Top Innovation Day (Feb 2025) brought together 90+ industry participants and 190+ potential company contacts from food, nutraceutical, and pharma sectors
• +2 more outcomes

Named customers11 records

Segments6 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Nine partnerships are on record, tiered core, minor and major.

• Zydus Wellness InstitutecoreStrategic or Co-development Partner · 1 July 2023Collaboration for Sugar Reduction Reformulation Expert Course 2023. Joint certification program offering comprehensive insights into sweetener science and sugar reduction reformulation through non-nutritive sweeteners.
• Giract SwitzerlandcoreStrategic or Co-development PartnerF1rst is a business associate of Giract, Switzerland. GIRACT specializes in business research and consultancy with focus on additives and food ingredients, fine chemicals/pharmaceuticals, and associated technologies from biotech to packaging, medical engineering, and waste recycling. This partnership provides global perspective to understanding local food industry.
• Siddharth StarchminorStrategic or Co-development PartnerCollaboration for NPD (New Product Development) Stage 3 - Starch production and Stabilization. F1rst works with Siddharth Starch for modified starch development as per lab trial and factory trials, formulation and stabilization of process.
• TooTLabscoreStrategic or Co-development PartnerTooTLabs powered by F1rst is a pioneer in enabling crowd-sourced innovations in the food industry. TooTLabs enables food companies to tap into creative solutions from Indian academia. F1rst launched TooTLabs as part of its academic outreach initiative with a student-based app bridging global food academia and Indian academia.
• Ingredion India Private LimitedmajorStrategic or Co-development PartnerLong-standing partnership through GiTEx Innovation Days and NPD collaboration. F1rst organized interactive seminar and product demonstration on bakery ingredients for Ingredion. Successful case study on fibre-enriched Sabudana pearls facilitated Ingredion's India market expansion.
• Hexagon Nutrition LimitedmajorStrategic or Co-development PartnerCo-organized INNOHEXA Innovation Day on 14th November 2025 at ITC Windsor, Bengaluru. Partnership focused on empowering brands to deliver smarter nutrition efficiently and with evidence.
• Taiyo Kagaku IndiamajorGTM or Marketing PartnerGiTEx Table Top Innovation Day sponsorship on 5th February 2025 at Jio World Convention Centre, Mumbai. Partnership for innovative nutritional solutions featuring Taiyo Kagaku's products.
• Ministry of Food Processing Industries (MoFPI)majorStrategic or Co-development PartnerMoFPI supported PITF (Processed Indian Traditional Foods) conference. Government partnership for promoting processed Indian traditional foods industry through conferences and industry gatherings.
• TechnoServeminorStrategic or Co-development PartnerPartnership for Food Fortification Project (Millers for Nutrition) in Asia. TechnoServe Program Leader participated in PITF conferences as speaker on fortified traditional foods.

Scale indicators14 records

Recent moves6 records

Expansion highlights6 records

Emerging players

• IndustryARC: Market research and consulting firm covering food ingredients, additives, and related specialty chemical markets with syndicated reports and custom studies. Competes with F1rst's multi-client research studies in food ingredients.
• Leatherhead Food Research: UK-based food research and consultancy offering technical, regulatory and market research services to food and ingredient manufacturers. Similar ingredient-research depth and B2B client base to F1rst.
• Kline Group: Specialty market research and consulting firm focused on personal care, food ingredients, fine chemicals and related industries. Closest direct competitor on ingredient-specific syndicated studies and client base.

Broad incumbents

• Euromonitor International: Global market research firm covering industries including packaged food, ingredients, and agribusiness in emerging markets. Overlaps with F1rst on ingredient and food industry research, India country coverage, and syndicated multi-client studies.
• Rabobank Food & Agribusiness Research: Rabobank's in-house research and consulting arm covering food, beverage, agri inputs and ingredients globally. Competes for similar corporate strategy and market-entry engagements from CPG and ingredient majors.
• Mintel: Global market research firm with deep food, beverage and ingredients coverage plus consumer and product intelligence. Comparable B2B research model and ingredient/CPG client base, but at much larger scale and broader category scope.
• Frost & Sullivan: Global growth consultancy and market research firm covering food, ingredients, chemicals and agribusiness. Comparable B2B advisory/research monetisation model and global multinational client overlap.
• Informa Markets (Food ingredients series): Operator of Food ingredients Europe/Asia and a portfolio of large-scale food ingredient exhibitions and conferences. Directly competes with F1rst's GiTEx, PITF and Starch Forum events for sponsors and exhibitors.

Direct peers

• Giract: Switzerland-based business research and consultancy specialising in food additives/ingredients, fine chemicals, and pharmaceuticals. F1rst's explicitly named strategic business associate, operating the same ingredient-research playbook but covering global markets.

Others

• ICRA (ICRA Analytics / Consulting): Indian credit rating and consulting group with a food and agribusiness research practice covering Indian markets. Adjacent peer because it provides India-focused research and consulting to corporates in F&B adjacent sectors.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubegotostage.com/channel/f1rstwebinars
• Xx.com/F1rst15
• Facebookfacebook.com/F1rstMR
• LinkedInlinkedin.com/company/firstmrbusinessanalyticsprivatelimited

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about F1rst