Yogurt-brand Epigamia has raised a debt funding of Rs 35 crore from Grand Anicut. In June 2020, the Mumbai-based startup had raised Rs 40 crore from Danone Manifesto and Mousse Partners.
The board at Epigamia has passed a special resolution to issue 350 non-convertible debentures (NCDs) at an issue price of Rs 10,00,000 per debenture to raise Rs 35 crore from Grand Anicut, its regulatory filing with the Registrar of Companies (RoC) show.
Epigamia offers a wide range of varieties across yogurt, smoothies, ghee-based spreads and curd. It claims to leverage over 10,000 offline touch points at superstores such as Reliance Fresh, Godrej Nature’s Basket, and e-commerce platforms including BigBasket and Amazon.
The company also expanded its employee stock options (ESOPs) pool by adding 46,602 new options,a separate filing shows. As per Fintarckr’s estimates, the newly added ESOP options are worth around Rs 18.64 crore or $2.35 million.
While Epigamia is yet to file its financial statements for FY22, its operating revenue grew around 2% to Rs 109 crore in FY21, as per the company’s annual financial statement filed with the RoC. The Verlinvest-backed firm posted a loss of Rs 41.96 crore during the fiscal year ended March 2021.