Frubon, a Dairy Startup, Secures Series A Funding to Expand Retail Presence in Northern India
Frubon, a dairy startup based in Jaipur, is set to achieve impressive revenue figures, projecting over INR 100 crore in FY 2024. The company recently secured funding in its Series A round from Fireside Ventures, Pi Ventures LLP (Narotam Sekhsaria Family Office), and other angel investors, with Dexter Capital serving as the exclusive financial advisor.
According to Frubon, its growth trajectory has been remarkable, boasting a Compound Annual Growth Rate (CAGR) of more than 65% since it commenced commercial operations. Rahul Verma, Co-founder at Frubon, emphasized the company’s plans for expansion, stating, “The infusion of funds will also be used to strengthen the Company’s production and distribution capabilities.”
Vinay Singh, Co-founder and Partner at Fireside Ventures, highlighted the rationale behind investing in Frubon, saying, “Our decision to invest in Frubon was based on two premises: the universal appeal of the category and the focus of building a sustainable brand, from an efficient supply chain to maintaining a high quality of dairy products to giving back to society.”
Frubon boasts a diverse product portfolio of over 200 SKUs, including ice cream, milk, and value-added dairy products. The startup operates in more than 40 cities and towns across North India, utilizing a network of distributors and direct channels, including general trade, parlors, and modern trade platforms like Reliance Retail. It also leverages online quick e-commerce delivery apps such as Blinkit, Big Basket, and Swiggy Instamart.
The company has three milk collection centers spread across Rajasthan, where raw milk undergoes rigorous testing for quality across 36 parameters, including tests for adulteration, microbiology, preservatives, and chemical contamination. These tests are conducted at various stages of production, ensuring the highest standards of quality and safety.
Founded by DD Verma in April 2017, Frubon aims to expand its retail footprint and reach new markets in North India through different retail channels. With a focus on building a sustainable brand and delivering high-quality dairy products, Frubon is poised for continued growth and success in the competitive dairy market.