2024-12-22 22:48:22 :
Epigamia co-founder Rohan Mirchandani died of cardiac arrest on Saturday. The entrepreneur founded Drums Food International, the parent company of the healthy snack brand, in 2013.
“Drums Food International is deeply saddened to confirm the tragic passing of its beloved founder Rohan Mirchandani, who suffered a cardiac arrest yesterday,” said Drum Foods International Pvt. Ltd., which manages the Epigamia brand.
The $160 million startup is the third-largest operator in the same space, according to data collected by research firm Tracxn. Rohan Mirchandani owns nearly 4.68% stake in the healthy snack maker.
The 42-year-old executive’s net worth is not disclosed; however, according to the data, the founder has not liquidated any part of his holdings. Since its last funding round in December 2023, his stake in the company has dropped to nearly 4.7% from 4.8% pre-early funding.
Mirchandani is the largest shareholder among all founding members. According to official data, Ganesh Krishnamoorthy currently holds 1% stake, while Uday Thakker holds 0.4%, Rahul Jain 0.4% and Milap Shah 0.3%.
About Epigamia
Epigamia is a snack brand popular among young people, selling healthy snacks and convenience foods. The company sells yogurt, shakes, almond drinks, smoothies, cheese and flavored yogurt.
The company also claims that its products are preservative-free, plant-based, lactose-free, and more. The brand is operated by a parent company called Drum Foods International Pvt. Ltd., which issued a press statement on the death of Rohan Mirchandani on Sunday.
Mirchandani was responsible for the introduction of Greek yogurt and making it popular among youth through his branding strategy. The company currently competes with several other players in the market such as Country Delight with a market share of 31%, Akshaykalpa with a market share of 20%, Milky Kool with a market share of 13%, Sid’s Farm with a market share of 13%, Native Milk has a market share of 13%.
Epigamia has nearly 6% market share in the industry, according to Trancxn data.
The company’s net loss expanded to $An increase of Rs 67 crore in FY 2022-23 compared to previous levels $The net loss in the previous year was Rs 595 million. To date, the company has raised a total of 17 rounds of funding and raised $81.2 million from investors, including its largest round of $25.7 million.
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