Sandeep Aggarwal of Droom introduces Boundless Brands, a full-stack e-commerce platform, with his digitally-first beverage firm.
Sandeep Aggarwal of Droom and ShopClues introduced a digital-first beverage brand with full-stack e-commerce platform for the F&B industry. The brand has raised $2.5 million in a seed round from marquee angel investors in USA and India, Sandeep Aggarwal told ReTale in an exclusive interview.
The raised funds will be utilised to develop the e-commerce platform along with developing the in-house brands and marketing.
Nagendra Shukla, a Silicon Valley veteran joined the brand as co-founder and CEO.
Apart from raising the funds, Aggarwal and Shukla have together invested $1.35 million into the brand.
Speaking about the launch of Boundless Brands, Nagendra Shukla, co-founder and CEO said, “The F&B industry is a $100 billion addressable market and it continues to remain in the status quo for almost a century. Now, given the demographic mix of India, adoption of technology and innovation in packaging and product development, India is ready for the disruption in F&B. ”
Boundless-owned and operated brands aspire to cater to the underserved market of beverages for millennials and gen-z that account for more 50 per cent of the $100 billion TAM for F&B in India.
“We have identified 10 different categories like mixers, sparkling water, energy shots, flavoured ice tea, hydration drink, energy drink, probiotic and immunity boosters to name a few. Out of these 10, we will launch multiple SKUs under two categories by June. Then we will keep on adding more products, more categories and more SKUs,” said Aggarwal.
“”We will be able to launch 4-6 in-house brands by this fiscal end,” he added.
These in-house drinks will be distributed through its own e-commerce site and app supplemented with quick commerce, marketplaces, and modern retail.
Going ahead, Boundless will take its in-house brands global in the markets like Southeast Asia and Middle East.
The e-commerce platform will go live in June with more than a dozen brands.
“We plan to onboard over 1,000 F&B brands in the next two years for the full-stack e-commerce platform and services,” Aggarwal said.
In the first year of operations, it is eyeing to clock Rs 100 crore GMV via its in-house brands and Rs 300 crore GMV via its e-commerce portal.