Food & Beverage

Ice Pop brand Skippi raises Rs.10 cr in pre-series A

Parina Sood, TFW Bureau
Parina Sood, TFW Bureau May 29, 2024 - 1 min read
Ice Pop brand Skippi raises Rs.10 cr in pre-series A image
The brand is in advanced talks for raising another Rs.7 cr

Home grown ice-pop brand Skippi, which came into limelight in the first season of Shark Tank India, has rasied Rs 10 crore in a pre-series A round. The brand is also in advanced talks with investors raise an additional Rs 7 crore in the pre-series A round.

Skippi has raised Rs 10 crore in a pre-series A round led by Hyderabad Angel Network (HAN) and Venture Catalysts (VCATs), the company's CEO and co-founder Ravi Kabra confirmed to Franchise India.

The brand primarily plans to use the funds to create more brand awareness and strengthen its online and offline presence. International expansion is also on the cards.

Talking about the break-up of their strong sales, Ravi Kabra told Franchise India, “Predominantly, 60% of our sales comes from the offline segment. Skippi is available in 18,000 – 25,000 outlets throughout the country right now. It is not just available at the mom and pop kirana stores but surprisingly also medical stores, bakeries and even toy stores. Less than 10% of our sales comes from the modern trade outlets. We have recently got onboard with DealMart and Reliance India. Rest comes from online segment which majorly includes Swiggy, Zepto, Blinkit and Amazon and also our website.”

The company is eyeing to cross Rs 70 crore mark in FY25 and is in the process of expanding its international presence in various markets, including US, UK and Saudi Arabia.

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