F5 raises Rs 5 cr in pre-series A funding round led by Auxano Capital

F5 is building a hyper-local ecosystem around the daily workplace needs of the consumer

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2 min read Last Updated : Oct 11 2021 | 2:07 PM IST

D2C services brand F5, raised Rs 5 crore in a pre-series A round of funding led by Auxano Capital. Huddle, Lets Venture, Venture Catalyst also participated in this round.

F5 is building a hyper-local ecosystem around the daily workplace needs of the consumer, a market which is pegged to be worth $100 billion.

“It was interesting to note the swiftness with which the team was able to regain the lost momentum due to lockdown as the market opened up. This displayed the energy and zeal of the founders moving one-way - upwards and the dependencies of their clients for the product. As F5 Refreshment moves forward organising a mass unorganised workplace refreshment market, Auxano Capital is proud to be a part of this journey and is looking forward to interesting time ahead,” said a statement from Auxano Capital.

F5 Refreshment was launched in 2018 by Raghav Arora and founding partner Lalit Aggarwal. They started with providing basic refreshments (tea/coffee) at workplaces (initially focused on shops/showrooms/retail chains and other general market establishments) across three formats: subscription, on-demand as well as at retail outlets. Now, F5 is expanding its product portfolio adding meals, snacks, water and even digital services.

F5 Refreshment stands with ARR of Rs 8 crore with over 10,000 daily customers. The company has seen a growth of 8x in business subscribers post-Covid. It is present in 30 live markets in 2 cities (Delhi NCR, Lucknow) with 80% retention rate, and is planning to expand in all metro cities in the next 36 months.

With the current use of funds, company expects to clock Rs 15 crore ARR with 50 branded stores and expanding its portfolio to digital as well as non-digital offerings.

“The Indian consumer is becoming brand conscious, service focused and with COVID, hygiene conscious too. The existing daily workplace market is marred by product and service inefficiencies. We believe the market is massive and ripe for disruption” said Raghav Arora, co–founder of F5.