Frubon raises Series A led by Fireside Ventures
Frubon raises Series A led by Fireside Ventures
Frubon (Dev Milk Foods Pvt. Ltd.) has raised Series A funding led by Fireside Ventures. The round also saw participation from Narotam Sekhsaria Family Office and other angel investors.
Dexter Capital has been Frubon's advisor since it's first round in Mar'20 (participation from Angels), followed by its Pre-series A round in Mar’22 (led by Narotam Sekhsaria Family Office), and it's current Series A round (led by Fireside Ventures).
Dev Milk Foods Pvt. Ltd. (DMF), headquartered in Jaipur, is a diversified milk products company known for its "Frubon" brand, which offers ice cream value-added dairy products (Paneer, Dahi, Chhach, etc.), and milk. Since its commercial launch in April 2017, DMF has expanded its presence to over 40 cities and towns in North India. The company has experienced rapid growth and is expected to clock >INR 100 crs in revenue in FY24.
The freshly raised capital will be utilized to enhance the existing retail footprint, expand into additional North Indian cities through various retail channels, bolster production and distribution capabilities, and diversify product offerings. DMF emphasizes transparent and fair processes in sourcing high-quality raw milk from milk farmer societies, employing Fat/SNF tests for quality evaluation and pricing.
About Dexter Capital Advisors
Dexter Capital Advisors is a boutique investment bank advising entrepreneurs at early-stage and growth-stage startups in their fund-raising process. Founded in 2013, the firm has completed over 75+ deals and has been consistently ranked among the top 5 investment banks in the country, as ranked by venture intelligence
About Dexter Ventures
In its effort to support entrepreneurs in their 0 – 1 journey, Dexter Capital has launched a micro-VC fund, Dexter Ventures, to invest in pre-seed and seed-stage startups.
Started as a private angel syndicate under the brand Dexter Angels, we have built a portfolio of 30+ companies across diverse sectors in a span of just 4 years. Some of the key portfolio companies include Discover Pilgrim, Basic Home Loan, Depo24, Omnivio, Healthysure, NeuroPixel.AI, Mannjal, Qoruz, Rashki, Rezo.AI, Fello, and Tagz, among others.
Devendra Agrawal
Founder & CEO
Dexter Capital
Email: devendra.agrawal@dextercapital.in
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