Companies

Freshee raises funds from Edelweiss Private Equity

Priyanka Pani Mumbai | Updated on January 20, 2018 Published on June 07, 2016

FMCG brand Freshee has raised funds from Edelweiss Private Equity, the venture capital and private equity arm of  Edelweiss Financial Services. The amount has not been disclosed.

Freshee markets products in consumer food packaging, and is already one of the fastest growing brands in the aluminium foil and container business in India.

The funds will be used by Freshee in growing its personal hygiene products like tissue and kitchen products like baking paper, which it plans to launch soon. It is present across more than 40,000 retail outlets covering 17 states in India. The company also exports its products to more than ten countries.

Freshee was founded by Vimal Somani, a veteran in the aluminium industry. He has worked for over 25 years across companies like  Hindalco, Vedanta and Mittal Group.

Somani, in a statement said that “The funds will be utilized to enhance our pan-India retail segment penetration, market development, capacity expansion and include new value-added products, for domestic as well as global markets."

 

Pranav Parikh, Managing Partner, Edelweiss Private Equity, added that "Our vision and the funds’ interest lies in backing strong management. With changing lifestyles, the focus on hygiene and favourable demographics, we believe that the fast moving consumables space is a huge opportunity of over $2 billion, for brands that can focus on enhancing consumer hygiene and wellness.” 

Radix Capital Advisors, a Mumbai-based investment bank, was the sole financial advisor to Freshee.

 

Published on June 07, 2016
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