Skippi Ice Pops startup from Hyderabad has successfully secured ₹10 crore in pre-Series A funding led by Hyderabad Angel Network (HAN) and Venture Catalysts (VCATs). It is simultaneously learned to have plans for secure another ₹7 crore. This is a gesture of strong investor confidence in it. The new funding will be used for brand-building and marketing efforts. It will help the company to enhance working capital, develop new products and also hire key leadership positions.
CEO Ravi Kabra shared the ambitious growth plans of the company. He emphasized the significant potential of the ice popsicle market in India. He said that the global ice popsicle market has been growing exponentially and there is hardly a good brand in the country in the segment. Hence, Skippi aims to fill the gap. India has a large population of 140 crore and the climate is hot as well as humid. These are the basic reasons for the growth potential. Skippi Ice Pops is priced at just ₹20 and this is believed to be keep the company well-positioned to capture a large market share.
Q&A
Q: How much funding did Skippi Ice Pops secure in pre-Series A round?
A: ₹10 crore.
Q: Who led the funding round for Skippi Ice Pops?
A: Hyderabad Angel Network (HAN) and Venture Catalysts (VCATs).
Q: Does Skippi have plans to secure additional funding?
A: Yes, they plan to secure another ₹7 crore.
Q: What will Skippi do with the new funding?
A: Brand-building, marketing efforts, enhancing working capital, developing new products and hiring key leadership positions.
Q: What did CEO Ravi Kabra emphasize about the ice popsicle market in India?
A: He emphasized the significant potential due to India’s large population and hot, humid climate.
