3rd June 2024- Hyderabad-based ice popsicle maker, Skippi Ice Pops, has successfully raised ₹10 crore in pre-Series A funding. This significant investment was led by Hyderabad Angel Network (HAN) and Venture Catalysts (VCATs). In addition to this, Skippi is currently in talks to secure an additional ₹7 crore in funding in the near future.
The funds raised will primarily be utilized for brand-building and marketing initiatives. Skippi aims to enhance its working capital, drive new product development, and recruit key leadership positions. CEO Ravi Kabra shared insights on the company’s growth trajectory and brand-building strategies.
Kabra highlighted the immense potential of the ice popsicle market in India, emphasizing the country’s large population of 140 crore people and its hot and humid weather conditions. He emphasized that Skippi Ice Pops offers its products at an affordable price point of just ₹20, making it accessible to a wide range of consumers.
With no prominent brand in the Indian ice popsicle market prior to Skippi’s entry, the company has experienced rapid growth since its inception. Kabra expressed confidence in Skippi’s future prospects, stating that there is ample room for expansion and growth in the market.
Conclusion
Skippi Ice Pops’ successful funding round underscores the growing demand for affordable frozen treats in India. With a focus on brand-building and market expansion, Skippi is poised to capitalize on the untapped potential of the ice popsicle segment and continue its upward trajectory in the Indian market.
Source:Link
