VC Fund Investments
Group buying platform Frendy raises $3-M in Series A
Frendy, an Ahmedabad-based community group buying platform increased the size of its Series A fundraise, closing at INR 23 crore (USD 3 million). The company had raised a smaller tranche from investors in December 2021. Frendy's new round saw the renewed participation of the Desai Family Office and new investors via Let's Venture Angel Fund led by MARV Capital from New York and Centera Fund UK. Other angel investors who participated in the round include Shalabh Mehrish of Vinson Cap Advisors; Jon Piebenga, Partner, Social Venture Partners Charleston; Brian Giarocco, Ground Swell Capital; Raza Hasnani MD, Africa50 Fund; Kunal Shah – MD, Nomura; Arthur Farme - CEO Grupo H Brazil; Vivek Baliga - MD, BMO; Chetan Vig MD, Teachers Pension Fund and Vikas Lunia, Lunia Capital. The company has recently forayed into Rajasthan and plans to expand to Madhya Pradesh. It posted a revenue of INr 43 crore in its first year of operations.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
