Total amount raised
$69.8 Million
Latest funding date
07/01/2022
Location
Fraazo has successfully raised funding over four rounds, with the latest being a Series B. The company is backed by notable investors, including Sixth Sense Ventures and Equanimity Investments.
Keep reading to explore the intricacies of Fraazo's fundraising journey and the investors backing this innovative platform.
What Is Fraazo?
Fraazo is a precision agriculture platform based in Mumbai, Maharashtra, India. The company leverages data to select the finest produce from top partners, operating in industries such as agriculture, food delivery, and information technology.
Founded as a private entity, Fraazo has grown significantly, employing between 1001 and 5000 people. The company has successfully raised funding through Series B rounds, showcasing its robust growth and market presence.
How Much Funding Has Fraazo Raised?
- Seed Round
- Amount Raised: USD 2,000,000 (approx. INR 140,000,000)
- Date: May 2019
- Lead Investors: Equanimity Investments
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish a strong foundation and initial market presence in the precision agriculture sector.
- Series A
- Amount Raised: USD 11,000,000
- Date: July 2021
- Lead Investors: Sixth Sense Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To grow its business and expand its market presence in the fresh fruits and vegetables segment.
- Series B
- Amount Raised: USD 50,000,000
- Date: October 2021
- Lead Investors: WestBridge Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business, aiming to reach 10 million monthly orders and create a network of 500+ dark stores across the top 15 cities in India.
- Series B
- Amount Raised: USD 6,800,000
- Date: July 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support Fraazo's continued growth and expansion in the precision agriculture sector.
Fraazo has raised a total of USD 69,800,000. The current valuation is not publicly disclosed.
Key Investors
- WestBridge Capital
- Details: WestBridge Capital is a leading investment firm that focuses on investing in high-growth companies in India. They have a reputation for backing scalable business models with significant market potential.
- Investment Focus Areas: High-growth companies, scalable business models, large markets.
- Notable Investments: Oyo, PolicyBazaar, Delhivery.
- Sixth Sense Ventures
- Details: Sixth Sense Ventures is a consumer-centric venture fund that invests in early to mid-stage consumer businesses. They are known for their strategic investments in innovative consumer brands.
- Investment Focus Areas: Consumer-centric businesses, early to mid-stage companies, innovative models.
- Notable Investments: Soothe Healthcare, LEAP India, Hindustan Foods.
- Equanimity Investments
- Details: Equanimity Investments is a venture capital firm that invests in early-stage companies across various sectors. They focus on innovative solutions addressing large and unorganized markets.
- Investment Focus Areas: Early-stage companies, innovative solutions, large markets.
- Notable Investments: Samosa Singh, LoanTap, Biryani By Kilo.
- Apar Group
- Details: Apar Group is a diversified business group with interests in various sectors. They have a strong presence in industries such as power, automotive, and telecom.
- Investment Focus Areas: Power, automotive, telecom.
- Notable Investments: Specific notable investments are not mentioned.
- Manish Choksi of Asian Paints
- Details: Manish Choksi represents a leading Indian family office with significant investments in various sectors. He is known for his strategic investments and business acumen.
- Investment Focus Areas: Various sectors through family office investments.
- Notable Investments: Specific notable investments are not mentioned.
What's Next for Fraazo?
Fraazo stands on the brink of significant growth, with plans to expand its network of micro-fulfillment centers and reach 10 million monthly orders. The company aims to create a network of 500+ dark stores across the top 15 cities in India, serving 20 million households in the next 18 months. This ambitious expansion is fueled by the increasing demand for direct-to-consumer fresh produce delivery and the growth in the last-mile delivery sector.
Future fundraising opportunities seem likely as Fraazo continues to scale. The company’s rapid growth and ambitious plans may attract further investments from existing and new investors. However, challenges such as managing logistics, maintaining product quality, and facing competition from established players like Grofers and BigBasket could pose hurdles. Navigating these challenges will be crucial for Fraazo to sustain its growth trajectory and achieve its ambitious goals.
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