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FOOM raises 30 lakhs seed fund from a Delhi based investor

Foom, a Bengaluru based start-up for drinks raises 30 lakhs seed fund from a Delhi-based investor, invests additional 20 lakhs bootstrap fund for the launch of its subscription based drink app ‘Foom App’ in Bangalore. Foom App, A subscription based model, wherein one can enjoy one free drink everyday for 30 days in different participating restro-bar/pub at minimal subscription charges. The service is currently available in more than 40 restro-bars and pubs in Bengaluru.

As a part of the launch offer, one can either install the app and get one free drink everyday for the next seven days or become the members by paying minimal subscription amount of Rs 555/month, which is otherwise 777/month and enjoy one free drink everyday at different bars and pubs. The members can claim their free drink from a wide range of Beverages.

Foom has more than 40 restro-bars and pubs available on the platform like Bak Bak Bar, Tippler, JIMIS, Headquarters, Chaarcoal and many more. In the last one month, more than 1000 customers have subscribed on the platform and are enjoying the service.

Lokesh Bevara, Co-founder & CEO of FOOM said, “We are very excited to launch India’s only platform that offers 30 days free drink service at a minimal subscription amount. Everyone wants more for less and always loves value for money products/services. At Foom, we offer a free drink to everyone; anyone who prefers value for money product can enjoy the benefit of free drink service at the favorite restro-bar/pub. People are positive about our concept and we believe that in the coming few years, we will become a global subscription based platform for foods and drinks”.

Revealing his future business plans, Bevara said “We are planning to raise next round of funds in the next six months and utilize it to expand our operation to all major cities by the end of 2019”.

Currently, FOOM is running two different lucrative offers for the customers:

a)      Install the app and enjoy one free drink everyday for seven days

b)      Discount subscription charges of 555/Month

Presently, the app is available on Android and IOS mobile phone and has got more than 1500 downloads, with 1000+ customers subscribed on the platform.

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