The most well-established ice pops brand in India, as well as a breakout success in Shark Tank India Season 1, Skippi has secured 12 crores in an elongated pre-Series A round. Mr. Surya is a Dubai-based strategic family office, and they took more control of the round through an investment of 10 crore rupees, advised and facilitated by investment advisory firm Bestvantage Investments. The rest of the 2 crore was brought in by other angel investors.
The strategic capital infusion is in line with the aggressive growth strategy of Skippi that will augment brand visibility, working capital, product innovation, and the appointment of senior leadership. The same will assist this company to get a foothold in the Middle East under the wings of its new investor.
Created in 2021, Skippi is now the leading ice pops brand in India. Its items now reach more than 20,000 retail stores and leading e-commerce websites in the country, including Zepto, Swiggy Instamart, Cred, Amazon, Big Basket, and its self-named website. In the recent past, the company has diversified its product line to include new products such as Crazy Corn, Cornsticks, and Cream Rolls.
Recently in January this year, Skippi clinched a bridge round led by Hyderabad Angels Network (HAN) and Venture Catalysts (VCats), along with the input of Soonicorn Ventures, HEM Securities, and significant angel investors.
Skippi started out with a 100 lakh investment by all six sharks, who are Aman Gupta, Ashneer Grover, Anupam Mittal, Namita Thapar, Vineeta Singh, and Piyush Bansal of Shark Tank India Season 1, which is 18% equity value. Ever since then, the company has increased its monthly revenues by 80-fold, from 5-7 lakhs to several crores.
“This funding is a big step for Skippi as we work to become a top FMCG brand in India. We are very thankful for the support from our investors, including our valued sharks. With this money, we will focus on building our brand, creating new products, and bringing in great talent to our leadership team.”
– Ravi Kabra, CEO and co-founder of Skippi.
“Skippi has made an India-first brand in a market dominated by international players. We feel that there is a tremendous opportunity to take this product to the masses.”
– Raman Sharma, CEO and Founder of Bestvantage Investments.
At this pace, Skippi will expand its presence more strongly in India and global markets, as well as sustain its position of bringing an element of fun, innovation, and nostalgia to families around the world.
Skippi is the first Indian ice popsicle brand and a household name that emerged out of Shark Tank India Season 1, in which they got a deal with all 6 sharks. Founded in 2021, Skippi has grown to have its presence in more than 20,000 retail stores at its disposal in India, as well as other large online platforms like Amazon, Zepto, Big Basket, and Swiggy Instamart, among others. Having a target product line of innovative products, Skippi is out to create a new FMCG brand that is modern and brings fun, nostalgia, and quality with each bite.