Skippi, the popular ice popsicle brand, has successfully raised ₹10 crore in a Pre-Series A round led by Hyderabad Angel Network (HAN) and Venture Catalysts (VCATs).
The funding round also saw participation from Soonicorn Ventures, HEM Securities, and several angel investors. The brand is currently in discussions to secure an additional ₹7 crore in the coming weeks.
The newly acquired funds will be strategically allocated towards brand building and marketing initiatives. The focus will be on enhancing working capital, driving new product development, and hiring key leadership personnel to steer the next phase of growth.
Launched in 2021, Skippi has rapidly expanded its presence and is now available in over 20,000 outlets nationwide. The brand also enjoys a significant online presence through platforms like Zepto, Swiggy Insta, Cred, Amazon, Skippi.in, and Big Basket. Recently, Skippi introduced cornsticks and cream rolls, with ambitions to achieve a ₹100 crore valuation.
Skippi initially gained prominence after securing investments on Shark Tank India Season 1, where Aman Gupta, Ashneer Grover, Anupam Mittal, Namita Thapar, Vineeta Singh, and Piyush Bansal collectively invested ₹1.2 crore for an 18 percent equity stake in the company.
Ravi Kabra, CEO and Co-Founder of Skippi, commented, “This funding is a significant milestone for Skippi as we strive to become a leading FMCG brand in India. With this investment, we will focus on brand building, developing new products, and strengthening our leadership team.”
Pradeep Dhobale, Vice Chairman and Lead Investor at Hyderabad Angels, added, “Skippi has demonstrated that there are ample opportunities for startups in the FMCG Foods sector, even in a market dominated by large multinationals and domestic players.”
The frozen dessert sector in India is projected to reach $2.4 billion by 2027, underscoring the potential for growth and innovation in this space.
