Dev Milk Foods, the entity behind Jaipur’s dairy and ice cream brand FruBon, has raised a new round of funding from Fireside Ventures, the Narotam Sekhsaria Family Office, and a group of angel investors, the company announced on Monday. The deal size was not disclosed.
The capital will be deployed to widen FruBon’s retail presence, scale manufacturing and cold chain capacity, and drive product innovation — with north and west India as the primary expansion corridors.
“The company plans to utilise the newly raised capital to expand its retail footprint, enhance production and cold chain infrastructure, and accelerate innovation across its portfolio of dairy and ice cream products,” the company said in a statement.
Founded in 2017 by dairy technologist DD Verma alongside his sons Rahul Verma and Rohit Verma, FruBon has built a product range spanning ice creams, flavoured milk, paneer, ghee, lassi, chaach, and traditional dairy formats. The company operates an integrated supply chain with milk collection centres spread across Rajasthan and a manufacturing facility at Mahindra World City on the outskirts of Jaipur.
Since its commercial launch, FruBon has established a presence across 75-plus cities and towns in north India — reaching consumers through general trade, modern retail, brand partnerships, and quick commerce platforms.
The funding marks a notable bet on India’s regional dairy sector, where challenger brands built on integrated farm-to-shelf models are increasingly drawing institutional interest. For Fireside Ventures — known for backing consumer brands at early and growth stages — the investment signals continued appetite for food, and FMCG plays outside the metro-first startup template.
