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Homegrown D2C service brand F5 has raised ₹5 crore in pre-series A funding round led by Auxano Capital.
The round also witnessed participation from other investors including Huddle, Lets Venture, Venture Catalyst.
F5 Refreshment was launched in 2018 by Raghav Arora and founding partner Lalit Aggarwal. The company is focused on building a hyper-local ecosystem around the daily workplace needs of the consumer, a market which it says is pegged to be at around $100 billion in market size.
The company currently has over 10,000 daily customers with a ARR of over ₹8 crore. It has seen a growth of 8x in business subscribers post Covid, it said.
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The firm is present in 30 live markets in two cities (Delhi NCR & Lucknow) and is planning to expand to all metro cities in the next 36 months.
With the current use of funds, it expects to clock ₹15 crore ARR with 50 branded stores and expand its portfolio to digital as well as non-digital offerings. F5 had earlier closed ₹2.8 crore fund raise in May 2020.
“The Indian consumer is becoming brand conscious, service-focused and with Covid, hygiene conscious too. The existing daily workplace market is marred by product and service inefficiencies. We believe the market is massive and ripe for disruption,” said Raghav Arora, Co-Founder of F5.
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