D2C fresh produce firm Fraazo raises $15-M from Sixth Sense Ventures, others

Fraazo, a Mumbai-based direct-to-consumer (D2C) brand in the fresh vegetables and fruits space, has raised USD 15 million in a Series A debt-and-equity funding round led by Sixth Sense Ventures. Nabard-backed Nabventrues and existing investors Equanimity Ventures, Apar Group and Asian Paints' Manish Choksi also participated in the latestround. Fraazo has also received interest from development finance institutions and multilateral institutions for an additional USD 5 million of financing for expansion and to enhance its procurement base with farmers in North and Northeast India. Through a network of micro-fulfilment stores, Fraazo delivers farm-fresh vegetables and fruits across Mumbai within 60 minutes. The fresh funds will enable the company to expand to other metros and invest in technology.