[Funding alert] Retail aggregator F5 raises Rs 5 Cr in pre-Series A round led by Auxano Capital
F5, a D2C brand servicing daily workplace consumption, has announced that it has raised Rs 5 crore in pre-Series A round led by Auxano Capital and other investors, including Huddle, Lets Venture, and Venture Catalyst.
The company said it expects to clock Rs 15 crore ARR with 50 branded stores and expand its portfolio to digital as well as non-digital offerings with the latest funding.
Founded by two IIM Lucknow alumni — Raghav Arora and Lalit Aggarwal, F5 aims to be the one-stop solution for daily workplace consumption for a consumer, both online as well as offline.
Co-founders of F5
F5 is building a unique hyper-local ecosystem around the daily workplace needs of the consumer, market which is pegged to be of $100 billion market size. It had had earlier closed Rs 2.8 crore raise in May 2020.
“The Indian consumer is becoming brand conscious, service focussed and with COVID, hygiene conscious too. The existing daily workplace market is marred by product and service inefficiencies. We believe the market is massive and ripe for disruption,” said Raghav Arora, Co-founder of F5.
It is present in 30 live markets in two cities (Delhi NCR and Lucknow) with a 80 percent retention rate, and plans to expand to all metro cities in the next 36 months.
Commenting on the investment, Auxano Capital added, “It was interesting to note the swiftness with which the team was able to regain the lost momentum due to lockdown as the market opened up. This displayed the energy and zeal of the founders moving one-way - upwards and the dependencies of their clients for the product. As F5 Refreshment moves forward organising a mass unorganised workplace refreshment market, Auxano Capital is proud to be a part of this journey and is looking forward to interesting time ahead.”