Frendy raises $2 million from Auxano Capital, others

Frendy, a start-up into convenience store network for smaller towns and rural India has raised $2 million (Rs 16 crore) in a funding round led by Auxano Capital.

AT Capital Singapore, Metara Ventures, Apurva Salarpuria family office, and existing investor Desai Ventures also participated in the funding round.

Fredny will utilise the funds to expand the tech offering, enhance the private label product portfolio, and increase store count.

Commenting on the funding, Sameer Gandotra, CEO of Frendy in a statement said, “Our goal for the coming 12 months is to have 40 operational marts and further build out our private label offering. We have now perfected our business model and will continue to grow with the right unit economics and scale out the model to the rest of Gujarat and then into other states.”

Gowrav Vishwakarma, co-founder of Frendy added, “Our goal is to make the tech platform simple & frictionless for the stakeholder. Secondly, to make retail processes more efficient with data-based demand forecasting, auto-replenishment, and data-based pricing benchmarking.”

Founded in 2022 by Sameer Gandotra, Gowrav Vishwakarma, and Harshad Joshi, Frendy aims to revolutionize retail in tier 2-6 towns by catering to the needs of customers with over 4,500+ products across its 40 plus operational stores.