Skippi Secures ₹10 Crore in Pre Series A Funding from Hyderabad Angels and Venture Catalysts

Skippi, the innovative ice popsicle brand, has successfully raised ₹10 crore in a Pre Series A funding round led by Hyderabad Angel Network (HAN) and Venture Catalysts (VCATs). The funding round also saw significant participation from Soonicorn Ventures, HEM Securities, and several individual angel investors. The brand is currently in discussions 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 enhance its working capital, drive new product development, and hire key leadership personnel to spearhead the next phase of its growth trajectory.

Launched in 2021, Skippi has rapidly expanded its market presence, with its products available in over 20,000 outlets nationwide. 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 cornsticks and cream rolls to its product lineup, with ambitions to achieve a ₹100 crore valuation.

Skippi gained notable attention after securing investments on the inaugural season of Shark Tank India. Esteemed investors 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, expressed his enthusiasm about the recent funding, stating, “This funding is a big step for Skippi as we work to become a top FMCG brand in India. With this money, we will focus on building our brand, creating new products, and bringing in great talent to our leadership team.”

Pradeep Dhobale, Vice Chairman and lead investor at Hyderabad Angels, commented on Skippi’s potential, saying, “Skippi has demonstrated that there are vacant spaces available for startups in FMCG Foods, even though the category is dominated by large multinationals and domestic players.”

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