Urbanization and Rising Incomes Are Rewriting the

Consumer Story
INDIA I S URBANISING FRO T
FA S T M O

Un- Packag
34 Urbanization
Packaged ed
rate
%

Cities with Over 5 Unhealth Health

1 Million Population y y
0

URBAN CENTER S ARE DRIVING Price- Quality-

CONSUMPTION Sensitive Sensitive

Affluent and
81M Aspirer
n Class Households Standardize Customized
d S olution
Offering
GDP Per capita
₹560K/ Income in Metro top
Annum urban centres Opaqu Transparen
Source: e cy
https:// 2
www.livemint.com/news/india/aspiring-affluent-households-driving-india-
consumption-growth-bcg-report-1551222553295.html
Food is at the Heart of Our Changing
Con sumer Tale
Rise in usage and
demand of freshly
proces s ed ingredients

56%

Growing interest in Traditional staples,

customized such as Ragi, Jawar,
products and Bajra regaining
popularity

57
54
%
%
Health &
Overall rise of the
Wellnes s
female decision-
becoming center
maker
of
consumption

Source:
Ten Trends That Are Altering Consumer Behavior in India (bcg 3
.com)
Staples Opens the Door to a Potential
Opportunity
5% Processed
Food
Indian Affluent
HH Spend 10 Meat &
% Fish
22% of the
Budget on Food 10 Fruit
% s

15 Diary &
% Eggs

20 Vegetable
~₹11K+ % s
Spent Monthly
on Staples by Grains,
Affluent HH 40 Cereals,
Legumes &

Food Pyramid and D2C

% Nuts

Brands
A Fragmented and Unorganized Major Categories Within
Category Dominated by Staples Flours | Edible oil & Ghee
Traditional Players | Spices | Nuts
Source:
https://www.hindustantimes.com/union-budget/average-indian-s-monthly-expense-40-on-food-4-on-education/story-4ivqPm7vTX6uR65 4
J90tdoL
.html
P os t- COVID, Dig ital M omentum Fuels S taples
Category, P resenting Opportunity for Dig ital-
First B rands
Digital influence B rand Con sciousness More Con sumers
over and B ought
staples increased Loyalty Increased Staples Online

60% rise in Brand Consciousness

Increase in the first

46%
Post
Covid
6
1
43 time online shoppers
64%
Pre 38 %
Covid
2X
35% increase
19% post
26% rise in Brand Loyalty
covid
19
Increase in online
17
% % Post 34 49 spends on staples
Covid among existing
Pre
Covid
Po st Covid
Pre 27
% shoppers
TV Online Word of mouth
Covid

Source:
https://web-assets.bcg.com/7c/d0/4658d6074223b9cbc5ec677d6035/ 5
bcg-how- india-spends-shops-saves-in-the-new-reality-for-
distribution.pdf
Floryo : Revolutionizing Staples with Digital-First
Innovation
THE FIRST STEP
Delivering freshly milled fl our with
made to order & customization
Fresh ly
made options

Innovatio Customizatio
100% 100% 100%
n n Taste Nutrition Quality
Fresh & Retains No Preservatives,
Flavorful Nutrient & Clean Label,
Products, Vitamins Robust testing
Delivered with
24 hours
High Quality
&
VISIO
Transparenc
y N
Inspire mindful food choices, positively impacting individuals' well-being and
their families'
health, by transforming how foods, especially staples, are processed and 6
Flour Category Takes Center Stage as the First
Choice
S ize of HH Avg Frequency of Repeat Purchas e
Opportunity Penetration Purchas e Behaviour
Hig 1- 2
High High h times/Month High

Large TAM & Growing Organized Mos t Organis ed S taple Demand For
Market Category Variants

Total Flour
Market 10%+
Share with Organised
Market
$ 23 B TA
n M 50
%
Packaged Market
Controlled by Top 3
B rands M ultigrai Function
Packag ed Wheat Flour Market 90% n al
($B n)
4. Packaged S ales is
CA G 3. 4 urban
R2 1 2. 6
% 2. 9 Very Little
2. 4 Differentiatio
1. 0
1.
1.
4
7 n Between
2 Brands

FY17 FY18 FY19 FY20 FY21 FY22 Specifi

FY23 FY24 c 7
So urce: Statista.com
Urban, Affl uent, Millennial Women are Our
Core TG
Our P rimary WHAT OUR CURRENT
TG C U STOMERS HAVE
Age: 29- 4 5 TO S A Y NOW
Primary Gender:
Female
Family Income:
₹15L+ PA
Ps ychograp
hy
Looks for healthy Influenced through
and fresh options social media, friends
and family

Quality & Convenience

Open to trying new things
is Key to winning this
customer

Digitally savvy, makes

Customization & purchase decisions
Transparency is key based on online
to retaining reviews, social media
trends

8
Floryo's Made-to-Order Model Disrupts the
Status Quo

Tradition
al
S upplier
s/
importer
Manufactur
er
Bran
d
Warehous
e
Distributo
r
Wholesal
er
Retaile
r
End
Customer 30
Brands Online

+
s channel
5 5 10 10
days days days days
Day
(direct online
channel) s
Marketplac

10
e
D2C Manufactur Bran Warehous Offline End
Brands er d e stores Customer

5
days
5
days
+
Day
s

(Decentralize
d
Bran
d
(direct online
channel)
End
Customer
1 Offers Unmatched
Flexibility and
manufacturi Da
ng aided by 24 Hours (Ensuring Freshnes s & High Quality
tech) Quality) y
Technology Empowers Floryo's M odel, Elevating
S upply Chain & Quality A ss urance
Failed
S amples

M anufacturing Dis tribution

Unit Unit

Millin Packaging
g done
Quality Distribution
Testing center

Sou rce from

traders /
Vendors

Warehous Last Custome

e mile r
Order cut-
deliver off
y at 7 pm
6 quality tests Hygiene checks for Processing starts only after an Shipsy.io - S cheduled delivery
done to source raw material & order Flours g o through 21 route optimizing the time &
finest quality sourced grains quality checks Cost.
grains stored

Orderifig, Mafiufacturifig, afid Delivery ifi Ofie

Day

8-10PM 10PM- 12AM- 5 AM 5- 8 AM 8 AM- 9AM 9AM- 9PM End

Pre- 5AM Quality Packagin Dispatch to Last Mile c ustom
Processing Milling Check g Distribution Delivery er
Center 10
Floryo's M ade- to- Order M odel Enhances
Efficiency and Cus tomer Experience
Effi ciencies
Advantages
Capital Efficient Low Cost Experience Heavy
Consistent quality
One Zero Always
Faster time to market
• Factory with CAPEX • NO FG Inventory • Always Fresh
less than ₹1Cr • NO FG Warehousing • Always High quality
designed to deliver
annual revenue of • NO Slow moving or dead • Always Customized Improved customer
₹50Cr+ FG • Always Wholesome
• Warehouse stock
satisfaction Increased
• Supply chain for • NO FG Wastage
entire city • NO Supply chain
complexity profitability

Websit Conceptualizati
e on and
R&D
New Feedbac
Pilot launch
Launch and
in select
produc k
areas
sc ale
t
Free
samples Faster and Nimble Strategy to Launch New Products and Scale within 60 – 90
days period

11
Guiding FLORYO to Evolve Into A Multifaceted
Brand That Appeals to Many

Multiple Unlimited Tailor Made

Categories Customisation S olution

Enhanced market Cater to wider Helping customer

presence and markets and in
brand visibility broader customer their nutrition
preferences journey
12
Driving u s to 100% CQGR Revenue Growth, and
5 0 % AOV Growth S ince Launch
Revenue in Orders and AOV in
₹’000** ₹ **

Orders
Launc AOV in ₹
56
h: 0 60
Aug 4480 8000 0
55
0 0
’22 1 50
49
45 3 0
43
40 4 40
3
2720 35 8 4940 0
0 9 0
30
#CQGR: #CQGR: 3112
0
10 0 % 15 3 4 84% 5 20
5 0
535 11416 10
494 692
282 3 7 11796 0
68 191 0
2
8 6 0
J A S ' 2 2 OND'22 AM J'2 3 J A S ' 2 3 OND'23 J A S ' 2 2 OND'22 JF M'2 3 A MJ'2 3 * J A S ' 2 3 OND'23
JF M'2 3 * JF M'2 3 JF M'2 3
PLA
PL AN N
#Compounded Quarterly Growth
Rate
*Quarterly Run Rate
1
** On
Floryo.com 3
Powered by Strong Customer
Cohort
Months New Users M1 M2 M3 M4 M5 M6 M7 M8

439 86 91 76 67 65 53 58 46
JAuulg
1023 254 255 203 216 189 172 141

y ’’2 2 2 1100 32 4 28 6 263 236 215 160

1481 421 417 343 327 239

2
1421 397 323 298 228

AS e u p 1834 490 45 3 357

1654 408 362

g’’222
1601 372

2 1554

SOecpt’ 55% of the users in Apr’23 were returning

** On customers 14
Floryo.com
Powered by Strong Customer
Cohort
MMoonn M1 M M2 M M3 M3 M6 M8 M M9 MA8OV/
MM0 M4 M4M5 MM6 M7 3
tthhss 1 2 7 Apr’2
0 5
AAuug 10 0 19 20 16 15 14 11 13 10
g’’222 % % % % % % % % %
2
SSeep 20 24 16% 19% 13
10100% 19% 201%4 111%8 13%16 10 67
p’’222 % % % % 5
0% 24 % 15% % %
2 %
OOcct 24 25 19%
10100% 24% 23% 2 0 211%8 1619% 13%14 59
t’’222 % % 8
0% 28% % %
2 % %
NNoov 25 27 23% 23% 64
10100% 28% 211%9 1415%
v’’222 0% % % 3
28% 21% %
2 %
DDeec 27 22 23% 20 % 60
10100% 28% 151%5
c’’222 0% 27% % % 5
21%
2 %
JJaann’’ 22 24 20% 18% 74
10100% 27%
2233 0% 26 % % %
15%
5

FFeebb 24 20 18% 89
10100% 26%
’’2233 0% 24 % % % 3

MMaar 20 58
10100% 24%
r’’223 0% 22% % 3
4
AAppr 22 53
10100%
r’’223 0% % 2
5

55% of the users in Apr’23 were returning

** On customers 15
Floryo.com
ARPU of Retained Customers Doubles in Six Months,
Accelerating Growth
Months New Users M1 M2 M3 M4 M5 M6 M7 M8 M9

358 601 618 618 670 686 706 752 699

JAuulg
379 586 586 670 692 577 615 614

y ’’2 2 2 404 54 2 666 642 628 599 685

373 592 614 585 632 619

2
408 599 580 685 763

AS e u p 385 526 567 610

376 54 2 592
g’’222
383 555

2 378

** On SOecpt’
ARPU Doubles in 6 Months Reaching 1
Floryo.com around ₹650 6
ARPU of Retained Customers Doubles in Six Months,
Accelerating Growth
MMoo New
nntt
M0 M1 M2 M3 M4 M5 M6 M7 M8 Months M M M M M M M M M
hhs 1 2 3 4 5 6 7 8 9
Us er
s s
100% 19% 20% 16% 15% 14% 11% 13% 10% JAuulg
358 601 618 6 18 670 70 752
AAuu y’’22 6 699
686
gg’’
SSee
222 100% 24% 24% 19% 20% 18% 16% 13% A22u 6 70 61 61
pp’2’ S e2 p 3 79 586 586 692
2 5 4
222 g ’2 5 77
’2 2
OOcc 100% 28% 25% 23% 21% 19% 14%
tt’’2 SOecp 404 54 2 666 642 628 68
2 5
t’’222 599
22 100% 28% 27% 23% 21% 15%
2 Oocv
N 3 73 592 614 585 632 619
NNoo
t’’222
vv’2’ 100% 27% 22% 20% 15%
222 2 N o 408 599 68 76
D 2e c
580 5 3
v 2
’
’2 2
DDe
JJaan 100% 26% 24% 18%
ecc’ D e c 38
n’2’2 J a2 n ’ 526 5 67
’ 233 5
’2 6 10
222 2 3
FF eeb 100% 24% 20%
b’’22 J a n 3 76 54 2
F e3 b ’
33 ’2 592
2 3
MMa 100% 22%
ar’r2’ MFeabr’ 383
234 555
’2233
AApp 100% M a 37
rr’’22 A 4p r’ 8
35 r 2
’
2 3

** On
ARPU Doubles in 6 Months Reaching
Floryo.com around ₹650
 Floryo's P ath to Category Expan sion B eyond
Flours

Flour & Flour Edible B lende Cereals & Value added

based Oils d related grain based
products & Fats Spice products products)
s (Kids)
$23 $29 $3.5 $0.6 $3.5
Bn Bn Bn Bn Bn

Launch Q3 Q4 Q3 FUTUR
ed FY24 FY25 FY26 E

Introduced
More Depth
Wheat Dalia Barley Dalia
to Portfolio Unpolished I Unpolished I
S tone grounded S tone
in May’23 Grounded
New Launching in J ul’2 3 New
Source: A rrivals S eg ments
https://www.statista.com/outlook/cmo/food/oils-fats/edible-oils/india?kw=&crmtag=adwords&gclid=CjwKCAjw04yjBhApEiwAJcvNoatE2_6ass8x7aOOXb3mWQJtBGlGIyXr45SJ5FmnBLbAaxRO0rBu 18
JBoCH-QQAvD_BwE
https://dfpd.gov.in/oil-division.htm
Floryo's P ath to Category Expan sion B eyond
Flours Size of
Why Edible Oils & Opportunity
Fat s ? Hig
h
$29B
HH
n Penetration
Edible Hig
oil and Edible oils 25% of Indian h
fats account for households use
approximately sunflower and Avg Frequency of
FY22 Market
20% of India's 18% use Purchase
Size
food mustard
Hig 1- 2
consumption times/month
h

240K Repeat
Purchase
Edible oil and
Behaviour
fats
The rising share 170K Ton High
of packaged annual ghee
food production in Brand
Tons of Edible India Loyalty
Oil Consumed Hig
in FY20
h
https://www.statista.com/outlook/cmo/food/oils-fats/edible-oils/india?kw=&crmtag=adwords&gclid=CjwKCAjw04yjBhApEiwAJcvNoatE2_6ass8x7aOOXb3mWQJtBGlGIyXr45SJ5FmnBLbAaxRO0rBu 19
JBoCH-QQAvD_BwE
https://dfpd.gov.in/oil-division.htm
J ourney Towards B ecoming a $ 10 0M n A RR B us iness
in 5 Yrs
Target Target Path to
Cities KPIs
$ 10 0 M
n
Target Target Target Brand
ARR AOV Frequenc
₹750Cr y 1.35 ₹65Cr
₹800
Oct’2 ($100Mn Target
3
) Monthly
Revenue
More
Channels ₹1,110
Own Market Average
Mar’2 S tore Place
4
monthly
J u n’2
Mar’2 spend on
3
4 staples &
Aug’2
cereals
2 Oct’2 6 Lakh+
3 Estimated
Active User
Base
20
The
Team
Ma nohar Kumar Va tsal Mitta l Yousaf Ali
Founder – CEO Head of Operations – Sourcing Head of Innovation and R&D
20+ yea rs of experience & Manufacturing 20+ years of experience in
a cross multiple consumer 15+ yea rs of experience in product development & culinary
brands sales & operations

Murdoch Arm y Institute

SP Jain IIT Dhan bad University, of Hotel
IIM - C IIT Dhan bad
Australia Management
Institute

Deepa k Choudha ry Abhishek Sonow al

Head of Delivery & Channel Sales Growth & Marketing
10+ years of experience across 5+ years of experience across Sales
Sales, Operations & Business Dev. & Marketing

IIT Dhan bad

IIM - IIT Bombay
L

21
Early
B ackers

Vivek Abhay Kufial

Gupta Hafijura Shah

Amafi Varufi Vijay

Gupta Alagh Arisetty

22
Fund
A sk Lorem Ipsum
Lorem Ipsum
5%
5%
Lorem Ipsum
10%

Lorem Ipsum
45%

LORE
M
IPSUM

35%

Lorem Ipsum

24
Marketing Initiatives Inspiring and Winning Customers,
One- Bite at a time
Taj Campaigfi -
Social Media RWA Activatiofi
Efigagemefit & offers

Ififlueficer marketifig Festive offers

25