Shripad Nadkarni, Fireside Ventures, a private investment firm floated by former Helion Venture Partners’ senior managing director Kanwaljit Singh and Apurva Salarpuria of Salarpuria Group participated in this round, taking the total funding of the company to around Rs 20 crore.
The funds will be used by the company for expanding the distribution network of its yoghurt brand Epigamia.
“We raised this round primarily for Epigamia. The initial traction it has received at modern trade is phenomenal. The mix of traditional flavours as a portfolio is working well. Yogurt in India has been positioned as a breakfast accompaniment, but Epigamia’s Indian flavours open it up to a variety of occasions as a food accompaniment,” Shripad Nadkarni, an early investor in the company and director of MarketGate Consulting was quopted as saying.
Drums Food launched Epigamia in Mumbai this April with six flavors. Money raised will be used to set up a distribution network for the Greek yogurt brand in Bengaluru and Pune. “We plan to touch 250 retail touch points across modern and general trade stores in these cities,” said Rohan Mirchandani, cofounder and CEO of Drums Food.
Hokey Pokey is sold across modern trade outlets and online grocery stores BigBasket and Local Banya across six cities. Recently, it started selling on hyperlocal delivery companies Grofers and Scootsy, and through foodtech platforms Faasos and TinyOwl in a few cities.