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The Hindu
The Hindu
National
Sangeetha Kandavel

Chennai-based Fipola gets $3 million funding, to be a pan India brand by end of 2023

India Chennai

Chennai-headquartered Fipola Retail India, an omni channel meat Direct-to-Consumer startup, has raised $ 3 million (₹22.77 crore) in a fresh round and the investment was led by C. K. Ranganathan, Chairman and Managing Director of FMCG major Cavinkare Pvt Ltd.

The firm intends to use this funding for expanding its stores to newer geographies and for marketing. This deal was facilitated by IIFL Securities Premia (Priority Relationship).

“We are currently at 65 stores and will be opening 37 more in the next 45 days. It's an aggressive timeline but work was going on for the last two months and we are targeting to open 5 to 6 stores a week starting this week,” Sushil Kanugolu, Managing Director and CEO of Fipola Retail India told The Hindu.

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