D2C brand, based in Mumbai, FRAAZO has announced that it has secured $11 million in Sixth Sense Ventures led series A financing round of equity funding.
The round also saw participation from NABVENTURES as well as existing investors Equanimity Ventures, Apar Group and Vice Chairman and member of the Board of Directors of Asian Paints Limited – Manish Choksi.
Atul Kumar, Co-founder and CEO of FRAAZO, said, “We are thrilled by the support of ambitious and successful investors who see the disruptive potential of technology in building D2C brands. The need for hygiene, digital convenience, and customer service has never been greater, especially with quality inequity and disparities in service levels across traditional channels.”
Nikhil Vora, Founder and CEO, Sixth Sense Ventures, continued, “With a frequency-driven model, supply-chain moat, and a remarkable cross-functional team, coupled with product extensions to drive higher AOVs, FRAAZO is poised to dominate the perishables space. FRAAZO meets our sweet spot of investing in super scalable spaces, first-gen founders with a highly motivated entrepreneurial team, leveraging the change in behaviour of the evolved Consumers of Tomorrow!”
Gills John, Vice President at NABVENTURES, added, “the D2C fresh food market is one of the most challenging and nascent spaces in India with limited penetration by horizontal D2C players. We will strive to make FRAAZO as India’s largest fresh food D2C brand in the next 5 years.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.