FroGo intends to utilise the fund for expanding operations to 4 cities across the North, West and South zones of India (warehouses, dark stores and distribution network) and building technology
FroGo, a frozen foods tech platform has raised $1.15M in a seed round led by Inflection Point Ventures. The co-investors in the round are Ritesh Agarwal (Oyo), Ankit Nagori (Curefoods), Desai Ventures, FAAD network, and other active investors. The start-up is an end-to-end zero-temperature loss frozen foods platform – powering distribution and retail of the large $20 Billion frozen food India industry.
The raised funds will be utilised to accelerate the growth journey by expanding to 50 Dark Stores across 4 cities and to build technology with fully integrated temperature monitoring.
Mira Jhala, founder of FroGo, says, “Consumers are moving rapidly online, and manufacturers have a great bouquet of frozen food products that they want to deliver to the end consumer. But the supply chain is broken – with melted, destroyed, substandard food being delivered with limited choices available to consumers. I see both stress and an opportunity for the frozen foods category. With FroGo – Frozen is delivered Frozen, via an end-to-end zero-temperature-loss platform for frozen foods. We offer consumers a large variety of choices and a wider distribution to manufacturers, hence creating a win-win.”
Ivy Chin, Partner of Inflection Point Ventures, says, “While the demand for frozen food is growing and has substantial market potential, what needs significant attention is the cold chain Industry. FroGo is disrupting the frozen food ecosystem by addressing the challenges faced by the industry with its temperature monitoring platform. It ensures temperature maintenance of products and assured quality of food products at their doorstep without compromising the nutritional value.”
The company is planning to have an extensive network of dark stores across India with unified distributorship and streamlined operations across multiple demand channels, strengthening FroGo’s position as category leader.
FroGo, founded by HBS alum and serial entrepreneur Jhala in March’2022, is an end-to-end zero-temperature loss frozen foods platform.
Existing investor InfoEdge Ventures also participated in the fundraise
Mikro Grafeio is a social impact start-up dedicated to fostering economic growth and creating job opportunities in tier 2 and 3 cities
This move comes on the heels of Angel One's recent in-principle approval from the Securities and Exchange Board of India (Sebi) to sponsor a mutual fund
