Retail tech small-format grocery chain Frendy has raised Rs 2 crore (approximately $239K) in a debt round led by UC Inclusive Credit. This recent funding brings the startup’s total capital raised to Rs 42 crore, including equity and debt financing.
Frendy’s roster of investors features prominent names such as Auxano Capital, AT Capital (Singapore), Desai Ventures, Let’s Venture, MARV Capital (New York), and Metara Ventures (Singapore).
The newly acquired funds will enhance Frendy’s central inventory, which supports its network of Frendy Marts and Micro Kiranas in tier III towns of Gujarat. The company reported a revenue of Rs 82 crore for FY23 and aims to double this figure within the next 12 months by expanding its geographical footprint.
Established in 2019 by Sameer Gandotra, Frendy is focused on building a network of modern neighbourhood grocery mini-marts targeting consumers in small towns and villages across India. Headquartered in Ahmedabad, the company currently operates 25 marts and 2,000 micro kiranas in rural Gujarat—frendy plans to scale its operations to 100 marts and 3,000 micro kiranas over the next year.
Frendy’s marts are digitally connected to clusters of micro kiranas (mom-and-pop stores) and their customers, creating a last-mile digital commerce bridge to serve a broader spectrum of rural consumers. This digital integration is designed to streamline inventory management and improve service delivery across its network.
