F5 raises Rs. 5 Cr in pre-series A round
- ByManjeet Singh | October 11, 2021
Auxano Capital and a number of other investors have led a pre-Series A round worth Rs 5 crore for F5, a brand that caters to daily workplace consumption.
F5, which was founded by Raghav Arora and Lalit Aggarwal of IIM Lucknow, aims to become a one-stop solution for office consumption online and off.
With the latest funding, the company expects to earn Rs 15 crore in annual revenue from 50 branded stores and expand its portfolio to digital and non-digital offerings.
“The Indian consumer is becoming brand conscious, service focussed 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,” said Raghav Arora, Co-founder of F5.
Currently, F5 is in 30 live markets in two cities (New Delhi and Lucknow). We plan to expand to all metropolitan cities in the next 36 months.
Auxano Capital added, “It was interesting to see how quickly the team regained momentum after the lockdown when 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.”
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