Skippi Secures Funding for Growth and Expansion in the Frozen Dessert Market

Skippi, a brand known for its unique ice popsicles, has secured ₹10 crore in a Pre Series A funding round. This investment, led by Hyderabad Angel Network (HAN) and Venture Catalysts (VCATs), will fuel Skippi’s growth plans. The round also saw participation from Soonicorn Ventures, HEM Securities, and several angel investors. Negotiations for an additional ₹7 crore are ongoing.

Strategic Use of Funds to Propel Brand Forward

The newly acquired capital will be used for strategic brand building and marketing initiatives. Additionally, Skippi aims to improve its working capital, invest in new product development, and recruit key leadership personnel to spearhead its future growth.

Rapid Expansion and Strong Market Presence

Since its launch in 2021, Skippi has established a strong market presence. Its products are available in over 20,000 outlets across India and on major online platforms like Zepto, Swiggy Insta, Cred, Amazon, Skippi.in, and Big Basket. The brand has recently expanded its product line with the introduction of cornsticks and cream rolls. Skippi’s goal is to achieve a ₹100 crore valuation.

Shark Tank India Boost and Investor Confidence

Skippi gained significant recognition after its appearance on the first season of Shark Tank India. The company secured an investment of ₹1.2 crore for an 18% equity stake from a panel of esteemed investors including Aman Gupta, Ashneer Grover, Anupam Mittal, Namita Thapar, Vineeta Singh, and Piyush Bansal. This early investment fueled confidence in Skippi’s potential.

Industry Growth and Skippi’s Potential

The Indian frozen dessert industry is experiencing significant growth, with projections estimating it to reach $2.4 billion by 2027. Skippi’s innovative approach and recent funding are expected to play a major role in its expansion and market dominance within this thriving sector.

Excited for the Future

Skippi’s CEO and Co-Founder, Ravi Kabra, expressed his enthusiasm about the recent funding, stating that it represents a significant step towards Skippi’s goal of becoming a leading FMCG brand in India. The company plans to utilize the funds for brand building, product development, and leadership team expansion.

Investor Recognition of Market Opportunity

Pradeep Dhobale, Vice Chairman and lead investor at Hyderabad Angels, commented on Skippi’s potential, highlighting the opportunity for startups in the FMCG food space, despite the presence of established multinationals and domestic players.