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Fraazo Raises $11 Million in Series A From NABVENTURES

Picture Source: Internet

On Friday, Fraazo said that it had raised $11 million in Series A funding led by Sixth Sense Ventures, and NABARD backed NABVENTURES as it seeks to scale operations pan-India. Existing investors Equanimity Ventures, Asian Paints Limited’s Manish Choksi, Vice and Apar Group also participated in the round.

Fraazo, headquartered in Mumbai, was founded by Atul Kumar, Vikas Dosala, Sumit Rai, and Aashish
Krishnatre.

Fraazo follows a farm to fork model is the company owns the entire back-end supply chain and sells fresh fruits and vegetables to consumers. Through its app and platform, it delivers close to 2,000 tonnes of fresh produce monthly in Mumbai. Fraazo operates through a network of micro-fulfilment stores.

Covid has prompted a shift towards consumers turning to buy daily groceries online. As a result, several fresh produce platforms have emerged across the country’s top cities. Several offer same-day delivery as well as organic produce.

With the current fundraising, Fraazo is set to expand operations pan-India. The company is targeting 1,000 fulfilment centres across the country with a capability to deliver fresh produce within 15 minutes of ordering, said Atul Kumar, co-founder and CEO, Fraazo.

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