D2C brand Floryo raised $2 million in Pre-Series A round led by 3one4 Capital where $1.6 million funding has been raised via equity financing from Vivek Gupta and Abhay Hanjura from Licious; Kunal Shah from CRED; Aman Gupta and Sameer Mehta from boAt; Varun Alagh from Mamaearth; Rishi Vasudev from G.O.AT Brandlabs and Vijay Arisetti from MyGate while the remaining $400K as debt funding from Alteria Capital.
Floryo’s platform sells freshly produced Indian staples, particularly wheat flour. Floryo plans to use the funds to expand its product line, expand geographically, and strengthen its brand-building strategies. It provides a variety of whole grain flours, including functional multigrain flours, customised multigrain flours, and gluten-free multigrain flours. Customers can also personalise their wheat flours. According to Inc42, the Indian D2C market is expected to reach $100 billion by 2025. Meanwhile, according to another report, the F&B market, a sub-sector of the D2C industry, is expected to reach $156.25 billion by 2026.