Dev Milk Foods, the pioneering force behind the popular dairy brand Frubon, has announced the successful closure of its Series A funding round, securing significant investment from prominent backers including Fireside Ventures, Pi Ventures LLP (Narotam Sekhsaria Family Office), and a consortium of angel investors. This funding injection marks a pivotal moment for the burgeoning startup, propelling its ambitious plans to broaden its retail footprint and capture new markets across North India.
Founded in 2017 by DD Verma, Frubon has rapidly emerged as a frontrunner in the dairy industry, specializing in the production and distribution of a diverse range of high-quality dairy products, including ice cream, milk, flavored milk, cottage cheese, ghee, and buttermilk. With a commitment to excellence and innovation, the company has garnered widespread acclaim for its premium offerings and consumer-centric approach.
The infusion of capital from the Series A funding round will empower Frubon to embark on an aggressive expansion strategy, with a keen focus on enhancing its presence in existing markets and venturing into untapped territories across North India. Key objectives include bolstering production and distribution capabilities, diversifying the product portfolio to cater to evolving consumer preferences, and strengthening partnerships with retailers and distributors.
Commenting on the significance of the funding, Rahul Verma, Director of Frubon, expressed his confidence in the company’s trajectory and its potential to drive positive change in the dairy sector. He remarked, “With the backing of our esteemed investors, Frubon is poised to accelerate its growth trajectory and solidify its position as a market leader. We are committed to delivering exceptional products and experiences to our customers while championing sustainability and innovation.”
Frubon has demonstrated impressive growth since its inception, achieving a remarkable revenue growth rate of over 65%. The company is on track to surpass INR 100 Crore in revenue for the fiscal year 2024, underscoring its strong performance and market appeal. Currently, Frubon products are available across 40 cities and towns in North India, distributed through a robust network of partners and sold via omnichannel platforms such as Blinkit and Big Basket.
In addition to its commercial endeavors, Frubon remains steadfast in its commitment to promoting sustainable practices within the dairy industry. The company sources its products directly from farmers and actively engages in initiatives focused on farmer development and education, fostering mutually beneficial partnerships and driving positive social impact.
In a competitive landscape dominated by established players such as MilkMantra, Country Delight, Moofarm, and Stellapps, Frubon stands out for its innovative approach, quality-driven ethos, and unwavering commitment to customer satisfaction. Recent reports indicate heightened investor interest in the sector, with Stellapps and Country Delight exploring significant funding rounds to fuel their respective growth agendas.
Market analysis underscores the immense potential of the Indian dairy market, which generated revenues exceeding $71 billion in 2024. With a projected compound annual growth rate (CAGR) of 6.77% through 2028, the sector presents lucrative opportunities for expansion and innovation, positioning Frubon for sustained success and market leadership.
In summary, the successful closure of Frubon’s Series A funding round marks a significant milestone for the company, signaling investor confidence and paving the way for accelerated growth and innovation in the dynamic dairy sector. With a clear vision, robust strategy, and unwavering commitment to excellence, Frubon is poised to redefine the dairy landscape and emerge as a formidable force in India’s burgeoning retail sector.
