Deal Overview
Delhi-based perfumery startup Fraganote has raised $3 million in a Series A funding round. The round was led by V3 Ventures with a $2.4 million investment, supported by follow-on participation from Rukam Capital, which contributed $0.6 million.
Company Background & Traction
Founded in 2022 by Arjun Anand and Garima Kakkar, Fraganote has carved a niche in the beauty space by producing small-batch, high-concentration Eau De Parfum scents. The brand distinguishes itself through narrative-driven, culturally attuned product lines.
- Customer Base: Over 400,000 active customers.
- Retention: 35% repeat purchase rate.
- Portfolio: 50 SKUs, including 32 individual perfumes.
- Collaborations: Strategic partnerships with Chivas Regal, The Face Shop, and Phool.
Strategic Distribution
Fraganote has adopted a robust omni-channel strategy, leveraging its own D2C platform alongside aggressive expansion into quick commerce (Blinkit, Zepto, Swiggy Instamart) and established marketplaces like Nykaa. This approach has set the stage for their ambitious goal of reaching Rs 100 crore in revenue within the next 18 months.
Market Context
The Indian fragrance market is currently seeing a surge in competition from players like Skinn by Titan and House of EM5. Fraganote’s ability to secure Series A funding amidst this competition underscores the investor appetite for brands that combine high-quality formulations with localized cultural storytelling.