Dev Milk Foods, the company behind the Frubon brand, has secured an undisclosed amount in a Series A funding round from prominent investors including Fireside Ventures, Pi Ventures LLP (Narotam Sekhsaria Family Office), and several angel investors. The Jaipur-based startup plans to utilize the fresh capital to bolster its retail footprint, facilitate expansion into North Indian cities through various retail channels, enhance production and distribution capabilities, and diversify its product offerings.
- Funding Utilization: The funds raised in the Series A round will be instrumental in accelerating Frubon's growth trajectory. The company aims to expand its retail presence, particularly in North India, by leveraging different retail channels. Additionally, it plans to strengthen its production and distribution infrastructure while introducing new products to cater to evolving consumer preferences.
- Product Portfolio: Founded in 2017 by DD Verma, Frubon specializes in manufacturing a diverse range of dairy products, including ice cream, milk, flavoured milk, cottage cheese, ghee, and buttermilk. The company's comprehensive product portfolio caters to a wide spectrum of consumer needs and preferences in the dairy segment.
- Revenue Projection: Frubon has demonstrated impressive growth since its inception, recording a growth rate of over 65%. The company is on track to achieve a revenue milestone of over INR 100 crore in the fiscal year 2023-24, underscoring its robust performance and market acceptance.
- Market Presence: Frubon's products are currently available across 40 cities and towns in North India, distributed through a network of distributors and omnichannel platforms such as Blinkit and Big Basket. The company's strategic expansion initiatives aim to capitalize on untapped market opportunities and consolidate its presence in key regions.
- Competitive Landscape: In the competitive dairy startup landscape, Frubon faces competition from established players such as MilkMantra, Country Delight, Moofarm, and Stellapps. The funding infusion will enable Frubon to enhance its competitive positioning, innovate its product offerings, and capture a larger market share in the dynamic dairy industry.
With robust financial backing from prominent investors and a clear strategic roadmap, Frubon is well-positioned to capitalize on the burgeoning demand for dairy products in India. The company's commitment to product quality, innovation, and customer satisfaction will drive its growth trajectory and establish Frubon as a leading player in the dairy segment.