Fresh Food Concepts Pvt Ltd, which sells cold-pressed juices under the Juice Up brand, has secured Rs 13.5 crore ($2 million) in a pre-series A round of funding led by angel investors Siddhartha Gupta and Ashvin Chadha.
The company, as per a press statement, will utilise the capital mainly to upgrade its production facility and enhance its sales and distribution network. The company is gearing up to reach a sale point of 75,000 bottles per month, according to Riju Gupta, one of the co-founders of the firm.
“Delhi NCR is bigger than many countries in the world. This gives us a great opportunity to grow 20X in this region alone,” said Gupta, an alumnus of IIM-Ahmedabad.
The company, which was launched in November 2014 by Gupta and his IIM-batchmate Chandan Agarwal, claims that its ready-to-drink beverages contain no preservatives, additives or sugar. Its flagship brand Juice Up is available in six flavours—Red-E-Steady, Melony, 24 Carrot, Anarkali, Green Mile and Hello Yello.
Apart from serving its clients through monthly subscription model, the fresh juices are also available at over 250 locations including premium modern trade chains, hotels, restaurants, QSRs, cafés and entertainment venues across Delhi NCR.
The investors sounded optimistic regarding the potential of the firm to be a hit among the consumers. “Fresh Food Concepts has bootstrapped its way into becoming the market leader in their region. This is a classic case of easy to enter, execution heavy segment,” said Siddharth Gupta, who is part of the promoter family owning the Jagran Media group in India.
Ashwin Chadha, a seasoned angel investor, said that FFC is on the right trajectory and has the right team to become a major player in the clean label segment in the country.
Juice Up competes with the likes of Mumbai-based counterparts Raw Pressery, Juicifix and JusDivine, and Delhi-based Antidote. Among them, Raw Pressery earlier this year raised Rs 30.8 crore ($4.5 million then) in a Series B round of funding from Saama Capital, DSG Consumer Partners and existing investor Sequoia Capital.
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