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Skippi Ice Pops Secures Funding to Propel Growth with Bestvantage Investments

Skippi Ice Pops Secures Funding

In an exciting development for the Indian startup ecosystem, the ice popsicle brand Skippi has raised INR 10 Cr ($1.2 Mn) in a Pre-Series A funding round. This round was co-led by Hyderabad Angel Network and Venture Catalysts, with significant participation from Bestvantage Investments, Soonicorn Ventures, HEM Securities, and a group of angel investors. Skippi aims to raise an additional INR 7 Cr shortly, further accelerating its growth and market penetration.


Ravi Kabra, CEO and co-founder of Skippi, detailed the strategic allocation of the new funds, emphasizing a balanced approach towards growth and innovation. The capital will be primarily used for brand building and marketing, with 40% allocated to enhancing brand visibility and consumer engagement. Another 30% will go towards working capital to ensure sufficient liquidity for day-to-day operations and to manage supply chain efficiencies. Additionally, 10% of the funds will be dedicated to expanding the leadership team by hiring key personnel to drive the next growth phase and bring in new expertise. The remaining 20% will focus on developing, innovating, and expanding the product line to meet evolving consumer preferences.


 “With this funding, we will focus on building our brand, creating new products, and bringing in great talent to our leadership team,” Kabra said, highlighting the comprehensive growth strategy.


Skippi's journey since its inception has been marked by rapid growth and innovation. In 2022, Skippi gained national recognition by securing an investment from all six sharks on Shark Tank India Season 1, who collectively invested INR 1.2 Cr for an 18% equity stake. This pivotal moment led to an 80-fold increase in monthly revenues, boosting the startup's annual run rate from INR 60 Lakhs to a projected INR 60 Cr to INR 100 Cr this year.


Skippi Ice Pops has swiftly expanded its market presence, now available in over 20,000 outlets nationwide. The startup offers a diverse range of products, including more than five flavours of popsicles, cream rolls, and cornsticks, all made with natural ingredients and RO water. Skippi operates through an omnichannel retail model, selling via its website, quick commerce apps like Zepto, Swiggy Insta, Cred, Amazon, Skippi.in, and Big Basket, and boasts a robust distribution network of over 200 stockists and distributors across India.


The Indian ice cream market is on a significant growth trajectory. Valued at INR 228.6 Bn in 2023, it is projected to reach INR 956.0 Bn by 2032, according to IMARC. This growth is driven by rising disposable incomes and a shift in consumer preferences towards indulgent and innovative products. Skippi, claiming to be India’s first ice pops brand, competes with well-established brands like Havmor, Kwality Wall’s, Mother Dairy, Vadilal, Creambell, Amul, Natural Ice Cream, Giani’s, and Dinshaw’s, yet continues to carve out a unique space in the market.


Bestvantage Investments has been instrumental in Skippi's funding journey, underscoring its dedication to supporting innovative startups. Their participation in this funding round not only provides critical financial support but also brings strategic insights and valuable industry connections. As a prominent player in the startup investment landscape, Bestvantage Investments excels at identifying and nurturing high-potential ventures, significantly contributing to the growth and dynamism of the startup ecosystem.


Investors looking for exciting opportunities like Skippi can learn more about Bestvantage Investments by visiting www.bestvantageinvestments.com or contacting them directly at raman@bestvantageinvestments.com. Bestvantage Investments continues to empower startups, helping them navigate competitive markets, innovate continuously, and achieve remarkable growth milestones.

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