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Skippi has raised ₹10 crore in pre-Series A funding from Hyderabad Angels and Venture Catalysts

Funding Alert

Skippi, an innovative popsicle brand, has successfully raised ₹10 crore in a Pre Series A funding round led by Hyderabad Angel Network (HAN) and Venture Catalysts (VCATs). Soonicorn Ventures, HEM Securities and several individual angel investors also participated significantly in the funding round. The brand is currently in talks to raise an additional ₹7 crore in the coming weeks.

The newly acquired funds will be strategically invested in brand building and marketing initiatives. Skippi aims to increase its working capital, drive new product development and hire key executives to spearhead the next phase of its growth trajectory.

Launched in 2021, Skippi has rapidly expanded its market presence and its products are available in over 20,000 stores across the country. The brand also boasts a strong online presence through major platforms such as Zepto, Swiggy Insta, Cred, Amazon, Skippi.in and Big Basket. Recently, Skippi introduced corn sticks and cream rolls to its product line with ambitions of achieving a ₹100 crore valuation.

Skippi gained notable attention after securing investment on the inaugural season of Shark Tank India. Esteemed investors Aman Gupta, Ashneer Grover, Anupam Mittal, Namita Thapar, Vineeta Singh and Piyush Bansal have jointly invested ₹1.2 crore for an 18 percent stake in the company.

Expressing his excitement over the recent funding, Ravi Kabra, CEO and Co-Founder of Skippi said, “This funding is a big step for Skippi as we work towards becoming a top FMCG brand in India. With this money, we will focus on building our brand, creating new products and bringing great talent to our leadership team.”

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Commenting on Skippi’s potential, Pradeep Dhobale, vice-chairman and lead investor Hyderabad Angels said, «Skippi has shown that there are openings for startups in FMCG Foods, even though the category is dominated by large MNCs and domestic players.»

The frozen dessert industry in India is on a growth trajectory, with projections suggesting it will reach $2.4 billion by 2027. Skippi’s innovative approach and recent funding is expected to significantly contribute to its expansion and market presence in this thriving industry.

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