Fruitoholic, the renowned fresh fruit brand, has secured a total of INR 25 Crores in a recent fundraising round comprising both equity and debt financing. This milestone marks a significant step forward for the Hyderbad-based company as it continues its journey towards expansion and growth in the market.
The seed round investment, which contributed to the overall fundraising amount, was led by prominent industry leaders including CXOs of KFC, investment bankers, and other senior corporate professionals. Additionally, public institutions also participated in the fundraiser, demonstrating widespread support and confidence in Fruitoholic’s vision and potential.
Notably, RightRoad Ventures spearheaded the last round of fundraising, reaffirming their commitment to Fruitoholic’s growth trajectory. The investment will primarily fuel the brand’s expansion plans, facilitating its entry into two new cities while bolstering its presence in existing markets.
Reflecting on the successful fundraising endeavor, the Founders extended their gratitude to investors and stakeholders for their steadfast support. They stated, “We are thrilled to have received such overwhelming support from investors who share our vision for Fruitoholic. This funding will enable us to accelerate our expansion plans and further enhance our product offerings, thereby solidifying our position as a market leader in the fresh fruit segment.”
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Founded in 2021 by Praveen Nagamalla and Rahat Achanta, Fruitoholic has rapidly become a leading brand in the fresh fruit category, earning widespread acclaim for its quality products and customer-centric approach. With a remarkable track record of generating close to 30,000 orders every month, the company has experienced exponential growth, recording a staggering INR 65 Crores in revenue over the past three years.
In addition to its impressive revenue generation, Fruitoholic has attained profitability, showcasing the strength of its sustainable business model and strategic operational prowess. Moreover, the company is set to expand into Bangalore and Chennai this year, alongside the introduction of a range of new products.
As Fruitoholic enters its next phase of expansion, the company remains steadfast in its dedication to providing exceptional value to its customers, all while upholding its mission of advocating for health and wellness through the consumption of fresh and nutritious fruits.
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