The company said it plans to use the funds primarily for growth, expanding its team and meeting its working capital needs. The startup has a presence in around 25 tier 2-6 towns and over 4,500 products. The company recently forayed into Rajasthan with Madhya Pradesh. “The company has achieved a revenue of Rs 43 crore in its very first year of operations with break-even unit economics. Frendy is clearly on track to reach an annualised revenue run rate of Rs 300 crore by the end of the financial year,” the company said in a statement on Monday. The company said it has an asset-light franchised local distributor model that serves it well in tier 3-6 markets. The startup sells groceries, personal care and home and kitchen essentials on its platform.