Skippi Raises ₹12 Cr in Pre-Series A Round, Eyes ₹100 Cr Valuation
In a significant development, Skippi, the leading ice pops brand in India and a recent success story on Shark Tank India, has raised ₹12 crore in an extended pre-Series A round. The funds were led by Dubai-based family offices and facilitated by Bestvantage Investments. This injection of capital will support Skippi’s brand building, product innovation, and hiring efforts, as the company looks to expand its presence in the Indian market and venture into the Middle East.
Founded in 2017 by Rohan Agarwal and Shashank Desai, Skippi has been making waves in the Indian confectionery industry with its unique and delicious ice pops. The brand has gained a strong following among consumers and has been recognized for its innovative flavors and packaging. Skippi’s success caught the attention of the Shark Tank India judges, who invested in the company during the show.
With this latest funding, Skippi aims to achieve a valuation of ₹100 crore and accelerate its growth plans. The company plans to use the funds to enhance its brand presence, develop new products, and expand its sales and marketing efforts. Skippi also plans to strengthen its team and hire additional talent to support its growth ambitions.
According to Rohan Agarwal, Co-Founder and CEO of Skippi, “We are thrilled to have received this investment from our new partners. This funding will enable us to accelerate our growth plans and take Skippi to the next level. We are confident that our unique products and innovative approach will resonate with consumers across India and the Middle East.”
The investment in Skippi is a testament to the growing interest in Indian consumer goods companies among international investors. The country’s consumer goods market is one of the fastest-growing in the world, driven by a large and young population, increasing disposable incomes, and a growing middle class.
Skippi’s expansion plans in the Middle East and Indian markets are significant, given the region’s strong demand for premium and innovative consumer goods. Skippi’s unique products and commitment to quality make it well-positioned to capitalize on this demand.
Bestvantage Investments, the facilitator of the funding round, has a strong track record of supporting Indian startups and scaling their growth. The company’s investment in Skippi is a testament to its confidence in the brand’s potential and its commitment to supporting innovative Indian businesses.
In conclusion, Skippi’s ₹12 crore pre-Series A funding round is a significant milestone for the company, marking a major step towards achieving its growth ambitions. With its unique products, innovative approach, and strong brand presence, Skippi is well-positioned to achieve its goal of ₹100 crore valuation and expand its presence in the Indian and Middle Eastern markets.
Source: https://startuptalky.com/news/skippi-raises-12-crore-series-a/
