Fric Bergen Raises funding from Mumbai Angels Network

Mumbai, December 6, 2018: Fric Bergen (Vivan Foods Pvt. Ltd), a leader in the specialty food industry, raises funding from Mumbai Angels Network (MA Network), India’s leading early stage investment platform. The Gurgaon-based sauce and dip producer was founded by Vivek Singh, Vandana Singh, and Rohit Agarwal in 2008.  Fric Bergen launched with the aim to offer premium-quality sauces at affordable prices in easy-to-use, single-serve sachets for on-the-go consumers.  "Our focus is to cater to the masses. With prices of our products being as low as Rs 10, consumers usually end up buying two to three variants in one go," saidFounder, Rohit Agarwal. The company already retails over 30 SKUs in their product portfolio which includes a variety of mayonnaise, ketchups, sauces, dips, and jams.  With a strong distribution network covering over 10,000 retail outlets pan India, their focus lies in increasing this segment. Commenting on their expansion plans, Rohit said, "By the end of 2020, we plan to shift our retail revenues to 85 percent and hotel, restaurant, catering would be only around 15 percent." On the fund raise, Founder Vivek Singh, commented, “We are proud to be associated with MA Network and look forward to the value they bring to propel our growth.  We plan to use the investment to expand our capabilities around innovation, new product offerings, and consumer preferences.  We’ve introduced new flavors such as tandoori mayonnaise and pizza and pasta sauces to appeal to a diversified modern customer base. We plan to further expand our presence in various segments such as honey-based products, sugar-free sauces, and juice concentrates, amongst others.” “We are very excited to add Fric Bergen to our portfolio group of companies.  The consumer market industry is seeing a growth trajectory with rapid urbanization, evolving consumer lifestyles, rising income levels & growing per capita expenditure, awareness and desire to try new brands, and visibility of products through organized distribution points.  We believe Fric Bergen has a strong business model and are dedicated to providing them with the support they need to succeed,” said MA Network CEO & MD, Nandini Mansinghka.

About Mumbai Angels Network: Started in 2006, Mumbai Angels Network (The MA Network) is India’s premier investment platform focused on investments in new ventures. The MA Network is today 300+ members strong across 7 chapters (Mumbai, Delhi, Bangalore, Kolkata, Hyderabad, Goa and Pune). We have built a strong investment framework through which we showcase 60-70 highly curated investment opportunities to our member base, chosen from a funnel of 4500-5000 companies we review every year. The network now has a 125+ strong portfolio with 30+ exits. several of whom were at multiples comparable with global benchmarks in new venture investing.