India’s first D2C service brand, which target’s consumer’s daily workplace needs, F5 received pre-series A funding led by Auxano Capital and other investors including Huddle, Lets Venture, Venture Catalyst. F5 is building a unique hyper-local ecosystem around the daily workplace needs of the consumer, market which is pegged to be of $100Bn market size.
F5 Refreshment stands with ARR 8cr+ with 10,000+ daily customers. The company has seen an exponential growth of 8x in business subscribers Post-Covid. It is present in 30 live markets in 2 cities (Delhi NCR & Lucknow) with a 80% retention rate, and planning to expand in all metro cities in the next 36 months. With the current use of funds, company expects to clock INR 15 Cr ARR with 50 branded stores and expanding its portfolio to digital as well as non-digital offerings. F5 had earlier closed INR 2.8 Cr raise in May 2020.
F5 Refreshment was launched in 2018 by Raghav Arora and founding partner Lalit Aggarwal. Mr. Arora comes from a diverse background- from stock market trading to brand marketing and investment banking experience, and Mr. Lalit holds a portfolio of diverse experience- from operations strategy, team building and business expansion.
F5 has two pillars of strength, Business Model – robust & scalable and Founders – resilient & adaptive.
“It was interesting to note the swiftness with which the team was able to regain the lost momentum due to lockdown as the market opened up. This displayed the energy and zeal of the founders moving one-way – upwards and the dependencies of their clients for the product. As F5 Refreshment moves forward organising a mass unorganised workplace refreshment market, Auxano Capital is proud to be a part of this journey and is looking forward to interesting time ahead.” Auxano Capital
“The Indian consumer is becoming brand conscious, service focused and with COVID, hygiene conscious too. The existing daily workplace market is marred by product and service inefficiencies. We believe the market is massive and ripe for disruption”, says Raghav Arora Co –Founder of F5.
About F5 Refreshment
F5 is building a unique hyper-local ecosystem around the daily workplace needs of the consumer. This market is uncharted with a $100Bn market size. They started with providing basic refreshments(tea/coffee) at workplaces (initially focused on shops/showrooms/retail chains and other general market establishments) across three formats: Subscription, On-Demand as well as at Retail Outlets. Now, F5 is expanding its product portfolio adding meals, snacks, water and even digital services. Products are priced at market rate (eg 8-10/cup for tea or INR 70/meal) with the assurance of good quality, hygiene and service. Their vision is to own the complete hyperlocal workplace ecosystem with hooked consumers, efficient last-mile logistics, and capital-efficient retail presence
Categories: Venture Capital