Rukam Capital led a $1 million pre-Series A fundraising round for the fragrance company Fraganote.
According to a news release from Fraganote, the new funding will be used to establish offline retail pilots, expand its fragrance collection, introduce new scent-forward formats, and create immersive brand experiences.
Fraganote is an Indian luxury perfume business that specializes in handmade scents. It was co-founded in 2022 by Arjun Anand and Garima Kakkar. In order to achieve scents that linger longer, the company produces its products in tiny batches using a high concentration of perfume oil. It also specializes in culturally sensitive, narrative-driven fragrances.
Redefining how India discovers, experiences, and connects with fragrance is the goal of the Delhi-based firm. It aims to produce perfumes with a lot of narrative depth that capture the emotions, goals, and changing way of life of a modern India. In order to create aromas like Baked Vanilla, Drunken Cake, and Beach Holiday, a team of connoisseurs develops all concepts locally.
The perfume market in India is expanding rapidly, per market research. At a compound annual growth rate (CAGR) of 15.23% between FY2025 and FY2022, it is expected to rise from its FY2024 valuation of $281 million to $873.3 million by FY2032.
Garima Kakkar, Co-Founder of Fraganote, said, “At Fraganote, we are building a luxury fragrance brand that is born in India but belongs everywhere. We believe India needs its own iconic perfume house, one that is modern, accessible, and built for a new generation of consumers who view brands as communities.”
