|
|
|
You can get e-magazine links on WhatsApp. Click here
|
|
|
|
|
|
Gurgaon start-up Fric Bergen raises undisclosed amount of seed funding
|
|
Wednesday, 26 December, 2018, 08 : 00 AM [IST]
|
|
|
Fric Bergen, a self-funded startup based in Gurgaon which deals in dips and sauces, has successfully raised an undisclosed amount of seed funding from Kishore Ganji, chief executive officer, Astir IT Solutions; Apurva Salarpuria, director, Salarpuria Group; Rushi Ajmera of Ajmera Realty, Pratul Dalal, executive director, Western Press, and Pranay Desai, director, CD Equisearch.
This will aid the company in utilising the funds raised in strengthening the company’s position in the distribution segment to achieve a more extensive reach in the retail market and also building a pathway to HoReCa (hotel, restaurant and catering) industries for business.
“We plan to use the funds to expand our capabilities around innovative product offerings based on consumer preferences. We have introduced new flavours such as tandoori mayonnaise and pizza and pasta sauces to cater to the needs of a diversified modern customer base,” said Vivek Singh, one of the brand’s founders, with Vandana Singh and Rohit Agarwal.
Interestingly, within 18 months of commencing operations, Fric Bergen has managed to establish a good foothold in the retail market, with over 10,000 outlets in North India. It has expanded to over 60 cities across the country.
And now the team is fully focussed on diversifying their product portfolio as well. Their primary objective is to disseminate these sauces to the Indian masses through various online platforms, such as Amazon, at affordable prices, rather than restricting it to a niche market as a premium product.
It aims to make available variants of dressings, dips and mayonnaise sauces to every household in convenient-to-use sachets at just Rs 10 and bridge the gap between the local players and international brands.
Vivek said, “Brand Fric Bergen is a reflection of the needs of our targeted audience and savings on the part of consumers through easy-on-pocket policy on the premium tagged products in addition. All of our products are available in easy-to-use single serve sachets, with no potential loopholes on stocking and obsolescing of residuals.”
Going forward, the company aims at targeting innovative distribution channels, such as retail outlets, including dairy, bread network and other outlets selling daily need products.
Besides, they also plan to introduce honey-based products, sugar-free sauces and juice concentrates, amongst others.
Speaking about their expansion strategy, Agarwal mentioned, “We are not in the industry to stop, but to expand our sales through ingenious marketing. We are here to target audiences in rural areas and small cities parallel to the posh areas in cities.”
“Our target stands to represent ourselves as the self-funded brand holder of surplus 1,00,000 outlets around the country in the upcoming set of three years,” he added.
|
|
|
|
|
|
|
|
|
|