Drums Food International, the parent company of Epigamia Greek yogurt, today said it has raised Rs 90 crore in a series-B round of funding. The round was led by Belgium-based consumer-focused private equity group Verlinvest and venture capital firm DSG Consumer Partners, with participation from InnoVen Capital, it said in a statement. The company plans to utilise the funds to innovate and launch new flavours, initiate brand-building activities and increase production capacity.
“It has been such a pleasure to work with Verlinvest and DSG Consumer Partners, they have been true value-added partners and helped us grow the business with full support and assistance,” Drums Food International co-founder and CEO Rohan Mirchandani said. “Partnering again in this round was a no-brainer and with their support we plan to continue expanding our product lines, categories, and geographies,” he said.
Since raising its series-A round last year from Verlinvest and DSG Consumer Partners, the company has expanded distribution by over five times. “We believe there is great growth potential to offer premium dairy products to Indian consumers and Epigamia addresses this with a compelling proposition,” Verlinvest Executive Director Nicholas Cator said.
Commenting on the funding, DSG Consumer Partners Managing Director Deepak Shahdadpuri said, “With this new round of funding, we will see exciting new products coming to the market focused on healthy and functional benefits.”