Frendy Company Profile

Background

Overview

Frendy is a tech-enabled network of convenience stores focused on serving smaller towns and rural India. Established in 2019 by Sameer Gandotra, Gowrav Vishwakarma, and Harshad Joshi, the company aims to revolutionize the retail landscape by providing a digitally connected shopping experience tailored to the unique needs of these communities.

Mission and Vision

Frendy's mission is to enhance the daily shopping experience for consumers in smaller towns and rural areas by offering a wide range of products at affordable prices, coupled with deals, a clean environment, and loyalty programs. The company's vision is to build the world's largest network of convenience stores, integrating modern retail with an omnichannel experience that includes both in-store and online ordering options.

Primary Area of Focus

The company specializes in establishing a network of virtual marts facilitated by local homepreneurs, providing access to grocery staples, food & beverages, fruits & vegetables, home cleaning, personal care, grooming & beauty, home & kitchen, and electronics items.

Industry Significance

Frendy addresses the gap in the retail market for consumers in smaller towns and rural areas by offering a digitally connected shopping experience, thereby enhancing accessibility and convenience. Its innovative model empowers local entrepreneurs and contributes to the economic development of underserved regions.

Key Strategic Focus

Core Objectives

• Expansion of Store Network: Frendy aims to increase the number of operational Frendy Marts and Micro stores to enhance its reach and service capacity.

• Enhancement of Product Portfolio: The company focuses on expanding its private label product offerings to provide a diverse range of products to its customers.

• Technological Advancement: Frendy is committed to developing and implementing technology solutions that streamline retail processes and empower franchisees with AI-based tools for marketing and community engagement.

Specific Areas of Specialization

• Community Empowerment: By partnering with local homepreneurs, Frendy fosters entrepreneurship and economic growth within communities.

• Omnichannel Retailing: The company integrates online and offline shopping experiences, allowing customers to place orders through a digital app while benefiting from the trust and assistance of local micro store owners.

Key Technologies Utilized

• AI-Based Tools: Frendy employs AI-driven solutions for demand forecasting, auto-replenishment, and data-based pricing benchmarking to optimize retail operations.

• Digital Platforms: The company utilizes a digital app to facilitate online ordering and community engagement, bridging the gap between virtual marts and micro stores.

Primary Markets Targeted

Frendy primarily targets Tier 2-6 towns and rural areas in Gujarat, India, with plans to expand to other states in the future.

Financials and Funding

Funding History

• Series A Round (May 2022): Frendy raised ₹23 crore (approximately $3 million) from investors including MARV Capital, Centera Fund UK, and existing investor Desai Family Office.

• Bridge Round (November 2023): The company secured an additional ₹16 crore (approximately $2 million) from investors such as Auxano Capital, AT Capital Singapore, Metara Ventures, and others.

• Debt Financing (July 2024): Frendy obtained ₹2 crore in working capital credit from UC Inclusive Credit to support its central inventory needs.

Total Funds Raised

As of December 2025, Frendy has raised a total of approximately ₹41 crore (around $5 million) through various funding rounds.

Utilization of Capital

The funds have been allocated towards:

• Technological Infrastructure: Enhancing the digital platform and implementing AI-based tools for operational efficiency.

• Product Portfolio Expansion: Developing and introducing new private label products to meet diverse customer needs.

• Store Network Expansion: Increasing the number of Frendy Marts and Micro stores to broaden market reach.

Pipeline Development

Key Pipeline Candidates

Frendy's pipeline includes:

• Frendy Marts: Modern self-serve stores offering 1,000 to 2,000 products, serving as both retail outlets and distribution centers for micro stores.

• Frendy Micro Stores: Smaller, family-run stores carrying around 100 SKUs, digitally connected to Frendy Marts to fulfill customer orders.

Stages of Development

• Operational Expansion: Frendy aims to have 40 operational Marts and enhance its private label range in the next 12 months.

• Technological Enhancement: Ongoing development of AI-based tools and digital platforms to improve retail processes and customer engagement.

Target Conditions

The company focuses on providing a wide range of products, including grocery staples, food & beverages, fruits & vegetables, home cleaning, personal care, grooming & beauty, home & kitchen, and electronics items.

Anticipated Milestones

• Revenue Growth: Achieving an annual recurring revenue of ₹300 crore within the next 24 months.

• Market Expansion: Extending operations beyond Gujarat to other states in India.

Technological Platform and Innovation

Proprietary Technologies

• Auto-Replenishment System (ARS): A tech-enabled system that ensures efficient inventory management with high inventory turns.

• Digital App: Facilitates online ordering and community engagement, connecting customers with local micro store owners.

Significant Scientific Methods

• Data-Based Demand Forecasting: Utilizing data analytics to predict customer demand and optimize inventory levels.

• AI-Based Pricing Benchmarking: Employing AI algorithms to set competitive pricing strategies.

Leadership Team

Sameer Gandotra: Founder and CEO. Holds an MBA from the Wharton School and has experience in affordable housing ventures.

Gowrav Vishwakarma: Co-Founder and CTO. A seasoned tech entrepreneur with expertise in technology-driven business models.

Harshad Joshi: COO. With over 30 years of experience in large-scale businesses such as Amul and Walmart, he has been instrumental in scaling operations.

Shilpa Ajwani: Consulting Advisor. Former Managing Director of Tupperware India, she brings extensive experience in building businesses from startup to scale.

Competitor Profile

Market Insights and Dynamics

The retail market in smaller towns and rural India is experiencing significant growth, driven by increasing internet penetration and changing consumer preferences. Frendy operates in a competitive landscape with several players targeting similar demographics.

Competitor Analysis

• New Shop: Focuses on providing a wide range of products through a network of convenience stores.

• 1K Kirana: Operates a network of kirana stores offering daily essentials to customers.

• Super K: Provides a variety of products through its convenience store network.

• Apna Mart: Offers a range of products through its retail outlets.

• Citymall: Focuses on delivering daily essentials to customers in smaller towns.

• GoBillion: Operates a network of convenience stores offering a variety of products.

• Dealshare: Provides a range of products through its platform, targeting value-conscious customers.

• Rozana: Focuses on delivering daily essentials to customers in smaller towns.

Strategic Collaborations and Partnerships

Frendy has established partnerships with various investors and advisors to strengthen its market position and innovation capacity. Notable investors include Auxano Capital, AT Capital Singapore, Metara Ventures, and the Desai Family Office.

Operational Insights

Frendy's unique hub-and-spoke model, leveraging existing micro stores as last-mile distribution points, provides a distribution model with high reach and trust. This approach differentiates it from competitors by integrating local community engagement and digital technology.

Strategic Opportunities and Future Directions

Frendy plans to expand its store network, enhance its private label product portfolio, and continue technological advancements to improve operational efficiency.