VC Fund Investments
Workplace refreshments delivery focused D2C player F5 raises Rs. 2.5 Cr
Delhi-based F5, a D2C brand servicing daily workplace refreshments consumption, has raised USD 350,000 (about INR 2.5 crore) as the first tranche of its pre-Series A round. The firm expects to close the second tranche in the next couple of weeks. The fundraise saw participation from angel investors including Mohit Satyanand, chairman, Teamwork Arts, who led through the LetsVenture platform; Gurugram-based accelerator Huddle, AngelList, Venture Catalysts and Rohit Chanana. The company had earlier raised USD 400,000 (INR 3 crore) as part of its seed round in May 2020. The firm will use the proceedings to tap the daily workplace needs market for consumers. In addition to this, the funds will also be used for R&D, customer acquisition, and tech development. Founded by IIM-Lucknow alumni Raghav Arora and Lalit Aggarwal, F5 claims to have over 6,000 daily consumers. The startup provides basic refreshments (tea/coffee) at workplaces (initially focused on shops/showrooms/retail chains and other general market establishments) across three formats: subscription, on-demand and retail outlets.
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