Fraazo is a Direct-to-consumer (D2C) fresh food retailer startup. It managed to raise $11 million in the Series A round that was led by the Sixth Sense Ventures.
In this funding round of Fraazo, many other ventures and companies participated. Adventures, Equanimity Ventures, Asian Paints’ Manish Choksi, and Apar Group took part in this round.
While this process, the company was also approached by the development finance institution. In its statement, the company also said that it received an additional $5 Million to get a better connection with the farmers of north and northeast India.
Currently, the company only serves the Mumbai market; however, the investment in the company will enable it to expand its working to other parts also. With more investment in the technology, it can procure more farmers in other parts of the company.
According to the company, the funding round was a mix of equity and debt. The company has a network of many micro-stores. It enables this Startup Fraazo to provide fresh farm vegetables and fruits across Mumbai. This startup was launched 12 months ago. But, its performance is appreciable. Till now, it has served a million customers within Mumbai.
Startup Fraazo In Series A
The three founders of Startup Fraazo are Atul Kumar, Vikas Dosala, Sumit Rai, and Aashish Krishnatre. The company supplies fresh fruits and vegetables right from the farmers. It follows the framework of farm to customer. It has control over the complete supply chain that helps the company to deliver fresh products.
With the increased demand of door to door delivery, Startup Fraazo is also looking to expand its operations all across the country. However, fulfilling the expansion requires funding. The fundraising drive it started has been proved successful till now.
In his statement, the managing partner of equanimity ventures said that they have always believed in the ideas of Atul (one of the founding members of Fraazo). The execution of the D2C plan has a strong foundation. In the coming time, this company has many scopes of reaching the skies, he added further in the statement.