About Frendy
Frendy is a Retail company based in Ahmedabad (India) founded in 2019 by Rakesh Israni, Sameer Gandotra, Gowrav Vishwakarma, and Harshad Joshi. Frendy has raised $6.33 million across 4 funding rounds from investors including UC Inclusive Credit, LetsVenture and Desai Ventures. The company has 35 employees. Frendy was last valued at $24.17 million in April 2022. Its chief executive, as recorded, is Sameer Gandotra. Its Indian entity Areli Commerce Private Limited reported revenue of ₹82.59 Cr. Frendy offers products and services including Frendy Marts, Private Label Products, and Digital Apps. Its focus areas include Food and Agriculture Tech, Online Grocery, Retail Store Aggregator and Rural Ecommerce. Its competitors include 1K, Vilcart and ShopX; 3 of its 3 listed competitors have raised funding.
Company details
Digitized convenience store network solutions for retailers. The platform connects customers with micro stores in small towns and rural areas through mobile application. It also digitally connects to a cluster of micro kirana stores for building a last mile digital commerce bridge to serve a wider range of rural consumers. It provides personalised product recommendations and promotions based on individual buying habits.
- Headquarters Ahmedabad, India
- Employees 35
- Founders Rakesh Israni, Sameer Gandotra, Gowrav Vishwakarma, Harshad Joshi
- Stage Minicorn
- SectorsRetail
- Email••••••••
- Website frendy.in
- Social LinkedIn Facebook Instagram YouTube
- Legal Name Areli Commerce Private Limited
- Date of Incorporation 15 May, 2019
- Jurisdiction Ahmedabad, Gujarat, India
- Annual Revenue₹82.59 Cr
FY 2023 · +106% YoY
- Net Loss-₹10.61 Cr
FY 2023 · -13% margin
- EBITDA-₹13.82 Cr
FY 2023 · -17% margin
- Total Equity Funding$6.33M (USD)
in 4 rounds
- Latest Funding Round$239.31K (USD), Debt – Conventional
Jul 2024
- InvestorsUC Inclusive Credit
& 32 more
- Employee Count35
Associated legal entities of Frendy
Frendy operates through Areli Commerce Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2023) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Areli Commerce Private Limited CIN U46901GJ2019PTC108165 | Active | 15 May 2019 | Ahmedabad, Gujarat | ₹82.6 Cr | 35 | 2 | View details |
Products & Services of Frendy
Frendy offers a comprehensive portfolio of products and services, including Frendy Marts, Private Label Products, and Digital Apps.
Digitized stores providing better shopping for rural consumers.
High-margin items for stores and micro kiranas.
Apps for supply and shopping in rural areas.
Apps and channels of Frendy
its YouTube channel Frendy has 2.14K subscribers and 30 videos.
Videos from Frendy
The most watched videos on Frendy's YouTube channel, Frendy (2.14K subscribers). Click a video to play it here.
More on Frendy.
Funding Insights of Frendy
Frendy has successfully raised a total of $6.33M across 4 strategic funding rounds. The most recent funding activity was a Debt – Conventional round of $239.31 thousand completed in July 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $6.33M
- Total Rounds 4
- Last Round Debt – Conventional — $239,312
- First Round $1.33M
(Dec 2021)
- Investors Count 33
All 4 funding rounds of Frendy with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul 2024 | $239,312 | Debt – Conventional | – | – | |
| Nov 2023 | $2M | Series A | – | Desai Ventures, Priya Joseph | |
| Apr 2022 | $3M | Series A | $24.17M | MARV Capital | |
| Dec 2021 | $1.33M | Angel Round | $11.54M | Pavitar Singh, Abhishek Khurana |
| Date | Valuation | Stage |
|---|---|---|
| Apr 2022 | $24.17M | •••••••• |
| Dec 2021 | $11.54M | •••••••• |
Last known valuation $24.17M (Apr 2022). 33 investors in total: 13 institutional and 20 angel.
Investors in Frendy
Frendy has secured backing from 33 investors, including venture fund, angel, and institutional investors. Prominent investors backing the company include UC Inclusive Credit, LetsVenture and Desai Ventures.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Single family office of Dr. Mayur Desai | desaiventures.io | Ahmedabad, India | ||
Investments in multiple sectors are managed by AT Capital Group. | atcapital.com.sg | Singapore, Singapore | ||
Investment funding and strategic guidance are provided by Auxano. | auxano.in | Gurugram, India | ||
Family office investing in early-stage tech startups | apurvasolapurfamilyoffice.tcc.mode | Solapur, India | ||
| metaraventures.tcc.mode | ||||
| jocaleholding.tcc.mode | ||||
Online platform that connects startup founders with accredited investors, enabling early-stage fundraising and investment opportunities for private market growth | 2013 | letsventure.com | Bengaluru, India | |
Investment banking and broker-dealer services in finance. | 2008 | marvcapital.com | ||
| luminaequityholding.tcc.mode | ||||
| april97.tcc.mode |
Investor details for Frendy
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
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Verified entity values are shown only after access is granted.
Board of directors of Areli Commerce Private Limited (Frendy)
Areli Commerce Private Limited is the primary company behind Frendy. The board of Areli Commerce Private Limited currently have 2 directors; the longest-serving is Ashish Anilkumar Handa, appointed in 2019.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Ashish Anilkumar Handa DIN 01294138 | Director | 15 May 2019 | 7 yrs 5 mo | Areli Commerce Private Limited |
| Sameer Gandotra DIN 06471899 | Director | 15 May 2019 | 7 yrs 5 mo | Areli Commerce Private Limited |
People of Frendy
7 people are tracked at Frendy (6 in leadership, 1 in team); the tracked headcount is 35.
| Name | Role | Group |
|---|---|---|
Rakesh Israni | Co-Founder | Leadership |
| Co-Founder & CEO | Leadership | |
Gowrav Vishwakarma | Co-Founder & CTO | Leadership |
Harshad Joshi | Co-Founder & COO | Leadership |
Anjali Bharani | NPD & Head of Procurement | Leadership |
Pankaj Adatiya | State Head Sales | Leadership |
Saurabh Patel | Assistant Manager | Team |
Complete people profiles for Frendy
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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Verified entity values are shown only after access is granted.
Financials of Frendy
Figures of Areli Commerce Private Limited, the primary company behind Frendy, for FY 2023. Revenue was ₹82.59 Cr (+106% year on year). Net loss was -₹10.61 Cr (-13% margin). EBITDA was -₹13.82 Cr (-17% margin). Revenue has grown at a compounded annual rate of +350% over three years.
- ₹82.59 CrRevenue · FY 2023 · +106% YoY
- -₹10.61 CrNet loss · -13% margin
- -₹13.82 CrEBITDA · -17% margin
- ₹1.45 CrPaid-up capital
- 35Employees (provident fund records)
- +350%Revenue CAGR, 3 years
Balance sheet, profit and loss, cash flow and ratios of Areli Commerce Private Limited are on its company page.
Detailed financial statements for Frendy
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
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- Downloads
Verified entity values are shown only after access is granted.
Timeline of Frendy
4 dated milestones of Frendy across 5 years, from founding to its latest funding, stage changes and deals.
- Founded Frendy is founded.
- Funding First funding round of $1.3M.
- Milestone Reaches Minicorn status.
- Funding Latest funding round, Debt – Conventional, of $239K.
Competitors of Frendy
Frendy has 3 listed competitors in our database, 3 of them funded. They include 1K, Vilcart and ShopX.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| 1knetworks.com | 2018 | Gurugram, India | $43.58M | 80 | Platform offering retail store aggregating solution for grocery stores | |
| vilcart.in | 2018 | Bengaluru, India | $31.38M | 1,214 | Tech-enabled logistics solutions are provided for rural retailers in India. | |
| shopx.in | 2015 | Bengaluru, India | $78.71M | 47 | Provider of a cashback and rewards platform for local store purchases |
Detailed competitors of Frendy
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
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Verified entity values are shown only after access is granted.
Top companies in Food & Grocery Retail
3 companies that operate in the same segment as Frendy (Food & Grocery Retail) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Food and grocery items are ordered via an online network. | 2014 | Bengaluru, Karnataka, India | USD 3.62 B | USD 2.46 B | 4,488 | |
Personal and household products are delivered via an e-commerce platform. | 2011 | Bengaluru, Karnataka, India | USD 943.07 M | USD 1.17 B | 22,095 | |
Instant delivery of groceries and essentials is facilitated online. | 2013 | Gurugram, Haryana, India | USD 757.52 M | 11,913 |
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Related news about Frendy
Complete news archive for Frendy
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Frequently Asked Questions about Frendy
Frendy was founded in 2019 and raised its 1st funding round 2 years after it was founded.
Frendy is headquartered in Ahmedabad, India. It is registered at Ahmedabad, Gujarat, India.
Sameer Gandotra is the CEO of Frendy, as recorded in our data. They have also founded this company.
Frendy is a funded company, having raised a total of $6.33M across 4 funding rounds to date. The company's 1st funding round was a Angel Round of $1.33M, raised on Dec 2021.
Frendy has 35 employees.
The primary company behind Frendy, Areli Commerce Private Limited, reported revenue of ₹82.59 Cr for FY 2023, up 106% year on year.
Digitized convenience store network solutions for retailers. The platform connects customers with micro stores in small towns and rural areas through mobile application. It also digitally connects to a cluster of micro kirana stores for building a last mile digital commerce bridge to serve a wider range of rural consumers. It provides personalised product recommendations and promotions based on individual buying habits.
Frendy offers Frendy Marts, Private Label Products, and Digital Apps.
Frendy has 33 investors. Key investors include UC Inclusive Credit, LetsVenture, Desai Ventures, Priya Joseph, and AT Capital.
The valuation of Frendy is $24.17M as of Apr 2022.
Frendy operates through Areli Commerce Private Limited.