About Frendy
Frendy is a 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 as of March 28, 2024. Frendy offers products and services including Frendy Marts, Private Label Products, and Digital Apps. Frendy operates in a competitive market with competitors including 1K, Vilcart, ShopX, eSamudaay and StoreKing, among others.
- Headquarter Ahmedabad, India
- Employees 35 as on 28 Mar, 2024
- Founders Rakesh Israni, Sameer Gandotra, Gowrav Vishwakarma, Harshad Joshi
- Stage Minicorn
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Sectors
Retail
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Areli Commerce Private Limited
- Date of Incorporation 15 May, 2019
- Jurisdiction Ahmedabad, Gujarat, India
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Annual Revenue
$9.93 M (USD)106.29as on Mar 31, 2023
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Net Profit
$-1.28 M (USD)-109.93as on Mar 31, 2023
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EBITDA
$-1.68 M (USD)-70.9as on Mar 31, 2023
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Total Equity Funding
$6.33 M (USD)
in 4 rounds
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Latest Funding Round
$239.31 K (USD), Debt – Conventional
Jul 16, 2024
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Investors
UC Inclusive Credit
& 32 more
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Employee Count
35
as on Mar 28, 2024
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Products & Services of Frendy
Frendy offers a comprehensive portfolio of products and services, including Frendy Marts, Private Label Products, and Digital Apps. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Digitized stores providing better shopping for rural consumers.
High-margin items for stores and micro kiranas.
Apps for supply and shopping in rural areas.
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Leadership Team
1 people
NPD Team
1 people
COO Team
1 people
Sales and Marketing
1 people
Assistant Team
1 people
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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 Total Funding
- Total Rounds 4
- Last Round Debt – Conventional — $239,312
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First Round
First Round
(02 Dec 2021)
- Investors Count 33
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2024 | Amount | Debt – Conventional - Frendy | Valuation |
investors |
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| Nov, 2023 | Amount | Series A - Frendy | Valuation | Desai Ventures , Priya Joseph | |
| Apr, 2022 | Amount | Series A - Frendy | Valuation | MARV Capital |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Dr. Mayur Desai
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Founded Year | Domain | Location | |
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Investments in multiple sectors are managed by AT Capital Group.
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Founded Year | Domain | Location | |
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Investment funding and strategic guidance are provided by Auxano.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Frendy
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Frendy
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Frendy Comparisons
Competitors of Frendy
Frendy operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as 1K, Vilcart, ShopX, eSamudaay and StoreKing, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Platform offering retail store aggregating solution for grocery stores
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| domain | founded_year | HQ Location |
Tech-enabled logistics solutions are provided for rural retailers in India.
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| domain | founded_year | HQ Location |
Provider of a cashback and rewards platform for local store purchases
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| domain | founded_year | HQ Location |
Retail store aggregation solutions are provided for local businesses.
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| domain | founded_year | HQ Location |
Online supermarket services are provided to small-town retailers.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Frendy
Frequently Asked Questions about Frendy
When was Frendy founded?
Frendy was founded in 2019 and raised its 1st funding round 2 years after it was founded.
Where is Frendy located?
Frendy is headquartered in Ahmedabad, India. It is registered at Ahmedabad, Gujarat, India.
Who is the current CEO of Frendy?
Sameer Gandotra is the current CEO of Frendy. They have also founded this company.
Is Frendy a funded 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 Series A of $3M, raised on Dec 02, 2021.
How many employees does Frendy have?
As of Mar 28, 2024, the latest employee count at Frendy is 35.
What is the annual revenue of Frendy?
Annual revenue of Frendy is $9.93M as on Mar 31, 2023.
What does Frendy do?
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.
What products or services does Frendy offer?
Frendy offers Frendy Marts, Private Label Products, and Digital Apps.
Who are Frendy's investors?
Frendy has 33 investors. Key investors include UC Inclusive Credit, LetsVenture, Desai Ventures, Priya Joseph, and AT Capital.
What is Frendy's valuation?
The valuation of Frendy is $24.17M as of Apr 2022.
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