Fraganote Raises $3 Million Series A to Expand D2C Fragrance Brand Into Body Care

D2C perfume startup Fraganote has closed a $3 million Series A funding round led by V3 Ventures, with participation from existing backer Rukam Capital. The Mumbai-based brand, founded in 2023, will use the capital to extend its product line into body care and scale its omnichannel retail footprint across India.

Funding Details: V3 Ventures Leads Fraganote’s Series A Round

V3 Ventures (V Cube Ventures SA) anchored the round with a $2.6 million investment, while Rukam Capital contributed $0.6 million. This follows a pre-Series A round of $1 million that Fraganote raised from Rukam Capital last year.

The total external funding raised by the startup now stands at $4 million across both rounds.

From Perfumes to Full Body Care: Fraganote’s Product Expansion Plan

Cofounder Garima Kakkar said the fresh capital will fund three key priorities: brand identity building, omnichannel distribution, and portfolio expansion beyond perfumes.

The startup plans to introduce fragrant body wash, mist, lotion, hand cream, shower gel, and lip serums under what it calls the “body care ritual” umbrella. It also intends to enter the home fragrance and car fragrance segments in the near term.

Fraganote currently offers 42 SKUs. The brand designs and formulates products in-house, with assembly on a contractual basis. It sources borosilicate glass bottles and atomisers from China, and perfume concentrates from Europe, the Middle East, and India.

Revenue Mix and Sales Channels

The brand generates 60% of revenue directly from its website, making D2C its dominant channel. Quick commerce platforms — Blinkit and Zepto — account for 20%, while e-commerce marketplaces such as Nykaa, Myntra, and Amazon contribute 10%.

Offline retail represents the remaining 10%, primarily through multi-brand outlets and branded kiosks in 14 tier-I and tier-II cities. Kakkar noted that kiosk customers often prefer to sample a fragrance before purchasing.

Fraganote plans to scale its kiosk count from 14 to 100 locations by the end of the year, signalling an accelerated push into physical retail.

Key Business Metrics

Fraganote reports a customer base of 300,000 with a 35% repeat purchase rate. Its average order value stands at Rs 1,500. The company grew fivefold in FY26 over FY25, without disclosing absolute revenue figures. It targets Rs 60 crore in revenue by FY27 and aims to cross Rs 100 crore within 18 months.

India’s D2C Fragrance Market Draws Growing Investor Interest

Fraganote operates in a segment that has attracted increasing venture capital attention. At least 30 fragrance brands entered the Indian market between 2018 and 2025. The D2C fragrance market is projected to reach $3.8 billion by 2030, growing at a CAGR of 12%.

India’s perfume consumer has shifted markedly — moving away from mass-market deodorants toward mid-premium and premium fragrances. Global brands previously dominated this space, but home-grown D2C labels are capturing growing share, supported by rising incomes, gifting culture, and quick commerce penetration.

Fraganote competes with Secret Alchemist, Pilgrim, Plum, and Skinn by Titan, among other domestic players.

For more on India’s D2C startup funding landscape, read our coverage on KnowStartup

Storytelling as a Core Product Strategy

Kakkar described Fraganote’s marketing approach as narrative-led. “Every fragrance is launched with a narrative — whether that’s emotional, nostalgic, or sensory. The visuals, the music, the packaging, all the content — we create a whole world around the fragrance and use storytelling as a core product mechanic,” she said.

The brand positions itself in the mid-premium segment, targeting consumers seeking quality alternatives to global legacy labels at accessible price points.

“The vision is a fully omnichannel brand with meaningful offline scale, a broad portfolio spanning multiple fragrance and personal care categories, and a global outlook that eventually takes India’s fragrance identity to international markets,” Kakkar added.

What This Means for India’s D2C Personal Care Sector

Fraganote’s Series A signals continued investor confidence in founder-led D2C brands building in India’s fragrance and personal care segment.

The startup’s move to layer body care onto a fragrance-first foundation mirrors a broader trend among Indian D2C brands: deepening their category footprint to improve unit economics and customer lifetime value.

About the Author

Sachin

Sachin Sidharth is a Digital Marketing professional with a master’s degree in Digital Marketing from Coventry University, UK. He has 10+ years of blogging and online marketing experience. He currently heads Digital Acquisition for a leading London-based Fintech firm. At KnowStartup.com He focuses on writing Digital Marketing guides and manages...

Sachin Sidharth is a Digital Marketing professional with a master’s degree in Digital Marketing from Coventry University, UK. He has 10+ years of blogging and online marketing experience. He currently heads Digital Acquisition for a leading London-based Fintech firm. At KnowStartup.com He focuses on writing Digital Marketing guides and manages KnowStartup's Digital Agency rankings of firms across multiple cities in India. You can reach him on Linkedin.

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