Total amount raised
$2.8 Millions
Latest funding date
5/1/2024
Location
Skippi Ice Pops has successfully raised funding to expand its product offerings and market reach. The brand is known for its diverse range of ice pops, corn sticks, cream rolls, and juices.
Keep reading to explore the intricacies of Skippi Ice Pops' fundraising journey and the investors backing this innovative brand.
What Is Skippi Ice Pops?
Skippi Ice Pops, a brand under Kabra Global Products Pvt Ltd, specializes in a variety of frozen treats including Ice Pops, Cream Rolls, Corn Sticks, and Juices. The company emphasizes the use of natural ingredients and patented technology to ensure high-quality products.
Founded in Hyderabad, Telangana, Skippi Ice Pops operates from its headquarters located at Madhu Vihar, Jubilee Hills. The brand has gained recognition for its innovative approach to frozen snacks, although specific details about the founding year and the names of the founders are not readily available.
While the exact number of employees is not disclosed, Skippi Ice Pops continues to expand its market presence and product offerings, making a significant impact in the frozen treats industry.
How Much Funding Has Skippi Ice Pops Raised?
- Seed Round
- Amount Raised: ₹10M
- Date: December 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial product development and market entry.
- Series A
- Amount Raised: $1.5M
- Date: March 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and enhance product offerings.
- Seed Round
- Amount Raised: ₹100M
- Date: May 2024
- Lead Investors: Hyderabad Angels, Venture Catalysts
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To drive brand building, marketing, and new product development.
Skippi Ice Pops has raised a total of $2.7M. The current valuation is Not publicly disclosed.
Key Investors
- Hyderabad Angel Network (HAN)
- Details: A network of angel investors based in Hyderabad, known for supporting early-stage startups. They provide not just capital but also mentorship and strategic guidance.
- Investment Focus Areas: Technology, healthcare, consumer goods.
- Notable Investments: Not publicly disclosed.
- Venture Catalysts (VCATs)
- Details: An early-stage investment firm that acts as an incubator and accelerator. They are one of India's leading early-stage investors.
- Investment Focus Areas: Technology, consumer goods, fintech.
- Notable Investments: Not publicly disclosed.
- Soonicorn Ventures
- Details: A venture capital firm focusing on high-growth potential startups. They aim to identify and support the next generation of unicorns.
- Investment Focus Areas: Technology, healthcare, consumer goods.
- Notable Investments: Not publicly disclosed.
- HEM Securities
- Details: A financial services company involved in investment banking and securities. They offer a range of financial services including brokerage and advisory.
- Investment Focus Areas: Financial services, investment banking, securities.
- Notable Investments: Not publicly disclosed.
- Shark Tank India Investors
- Details: Prominent business personalities and investors who participated in the Indian version of the popular TV show Shark Tank. They collectively invested ₹1.2 crore for an 18% equity stake in Skippi Ice Pops.
- Investment Focus Areas: Varied sectors including consumer goods, fintech, pharmaceuticals, cosmetics, eyewear.
- Notable Investments: boAt, BharatPe, Shaadi.com, Emcure Pharmaceuticals, Sugar Cosmetics, Lenskart.
What's Next for Skippi Ice Pops?
Skippi Ice Pops is poised to capitalize on the burgeoning frozen dessert market in India, projected to reach $2.4 billion by 2027. With recent funding, the brand aims to enhance its market presence, develop new products, and build a robust leadership team. The company is also in talks to raise an additional ₹7 crore, which will further fuel its growth and expansion efforts.
However, the path ahead is not without challenges. Skippi must navigate competition from established multinationals and domestic players while maintaining product quality and managing rapid growth. Effective utilization of the newly raised capital will be crucial in overcoming these hurdles and achieving their ambitious goals.
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