F5 funding

F5 funding

F5, a D2C brand servicing daily workplace consumption, on Tuesday announced that it has closed $350,000 (approx Rs 2.5 crore) as the first tranche of its pre-Series A round. Within the next couple of weeks, they are about to close the second tranche.

The current raise saw participation from angel investors including Mohit Satyanand, Chairman, Teamwork Arts who led through LetsVenture platform; Gurugram-based accelerator Huddle, AngelList, Venture Catalysts, Forbes Indian angel investor – Rohit Chanana, Dr. Jeevak Gupta – VP, Private Equity, InvAscent among others.

In May 2020, as part of its seed round, F5 managed to raise a funding of INR 3 crores ($400,000).

According to the official statement, the startup will use the proceedings to tap the $34 billion daily workplace needs of a market for consumers. In addition to this, the funds will also be used for R&D, customer acquisition, and tech development.

“We are in the middle of closing the next tranche and are very hopeful of the coming times. COVID-19 has made the general public more conscious of hygiene and quality and made them more tech-savvy. Demand for our products is highly inelastic which ensures our demand bounces back immediately post lockdowns”.    

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.

F5 started by providing 6000 customers with basic refreshments like tea/coffee at workplaces like shops, showrooms, general market establishments, and retail chains. They focused this distribution through three formats: on-demand, subscriptions, and retail outlets.

The company claims to have registered 6x growth in business subscribers post-COVID-19 and has served more than 50 lac cups to date, serving more than 12,000+ cups per day to 6,000+ daily consumers.

Don’t keep wondering about funding, you can also raise funds. Learn how to raise funds here: Yes I want to raise funds.

If you are an emerging startup and are looking for investors to raise funds, StartupLanes has its own angel network and investment banking services and is connected to angel investors and VCs in 15 countries that ensure that our member startups have easy access to external funds to scale up constantly.

You can subscribe to our news posts by entering your email in the box on the right side of this page.

Check out our YouTube channel for insightful content from the Indian startup ecosystem.

The right investment is key to beating inflation and growing your wealth. Do you wish to become an angel investor? Yes, I want to be an angel investor.

Are you a startup and facing challenges in your business? Do you want to grow your business? It is not as difficult as it sounds. Learn how to grow your business here- Yes, I want to grow my business.

For publishing an advertorial article about your company on our website, drop an email at taniya@startuplanes.com