Drums Food International, which owns and operates Epigamia Greek yogurt today, said that it has raised $13.8mn in series B round of funding led by Verlinvest, DSG Consumer Partners (DSGCP) and InnoVen Capital. The raised capital will be used to innovate & launch new flavours, initiate brand-building activities and increase production capacity, the company said in a press release statement.
Drums Food was founded in 2008 by New York University and Wharton School alumni Rohit Mirchandani, Chef Ganesh Krishnamurthy and Uday Thakkar. The company had launched Epigamia, India’s first branded and leading premium Greek yogurt which has rapidly gained traction with the Indian consumer.
Rohan Mirchandani, Co-Founder & CEO, Drums Food International said, “It has been such a pleasure to work with Verlinvest and DSGCP, they have been true value-added partners and helped us grow the business with full support and assistance. We have been able to see firsthand why their global track record is so successful! Partnering again in this round was a no brainer and with their support we plan to continue expanding our product lines, categories, and geographies.”
Arjun Anand, from Verlinvest’s Singapore office, and Prashant Chhaya, former Executive Director at Cadbury (Mondelez International), will join the Company’s Board of Directors, the company said in the press statement.
“Greek yogurt has great health and wellness benefits and we believe that Greek yogurt and premium dairy in general will become large categories in India. This increased investment in Epigamia alongside DSGCP fits well within our partnership to be a long-term supporter of young brands and talented entrepreneurs in growing categories in India,” said Arjun Anand.
Since raising its Series A round last year from Verlinvest & DSGCP, the company has expanded distribution by over five times and launched the Epigamia Snack Pack, the first of its kind in Asia combining dry snacks to be mixed with Greek yogurt through innovative packaging.
Epigamia is currently available in 8 unique flavors across 4000+ retail stores such as Reliance Fresh, Godrej Nature’s Basket, Future Group Foodhall & Big Bazaar, Hypercity, e-commerce platforms such as Big Basket, and numerous general trade retailers spread across Delhi-NCR, Mumbai, Bangalore, Chennai, and Hyderabad.