Fraganote Raises $1M in Pre-Series A Round Led by Rukam Capital

Fraganote Fragrances Private Limited, a modern Indian fragrance/perfumery brand, closes $1 million in a Pre-Series A funding round led by Rukam Capital. The investment marks a significant milestone in Fraganote’s journey to build India’s first globally relevant luxury perfume house and continues to strengthen Rukam Capital’s investments in its wellness and beauty portfolio.

The fresh capital raised will be used to accelerate Fraganote’s next phase of growth. This includes expanding its fragrance portfolio, introducing new scent-forward formats, and launching offline retail pilots and immersive brand experiences. A substantial portion of the investment will also go toward strengthening supply chain and fulfillment capabilities to enable pan-India distribution. Additionally, the brand will invest in integrated omnichannel touchpoints, including strategic partnerships and pop-up activations, to enhance consumer engagement and discovery.

Following the investment deal, Garima Kakkar, Co-Founder, 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. This investment from Rukam Capital gives us the momentum to expand our fragrance universe and take our vision global."

“Fraganote stands out for its originality, brand voice, and deep understanding of India’s evolving scent culture. We are excited to back a brand that’s not only creatively distinct but also rooted in operational discipline and long-term scalability. Fraganote has the potential to lead a premium fragrance revolution from India to the world”, asserted Archana Jahagirdar, Founder and Managing Partner, Rukam Capital.

Co-founded by Garima Kakkar and Arjun Anand, Fraganote is redefining how India discovers, experiences, and relates to fragrance. It strives to create story-rich perfumes that reflect the moods, aspirations, and evolving lifestyle of a new India. All the different concepts are developed in-house through a team of aficionados to make scents like Baked Vanilla, Drunken Cake, and Beach Holiday, which are helping the brand gain traction among younger, brand-conscious consumers. Its narrative-led, culturally attuned perfumes resonate deeply with a generation that values personal expression, sensory experiences, and aesthetic storytelling.

This investment comes at a time when India’s perfume market is on a strong growth trajectory, valued at USD 281 million in FY2024, it's projected to reach USD 873.3 million by FY2032, growing at a CAGR of 15.23% between FY2025 and FY2032. The category is evolving rapidly, shifting from its mass-market deodorant roots to a more premium, fragrance-first space. While the category has traditionally been dominated by mass-market deodorants, rising disposable incomes, increased global exposure, and changing grooming habits have sparked a surge in demand for premium, expressive perfumes. For Gen Z and millennials, fragrance is no longer an afterthought; it’s a personal statement and a sensorial extension of identity.

The gifting segment is also emerging as a key driver, with perfumes becoming popular choices for self-gifting and celebrations. Yet, the mid-to-premium segment remains under-penetrated, leaving a large gap for culturally relevant, design-forward, and fragrance-first brands. Fraganote is poised to capitalize on this whitespace by combining world-class product innovation with emotional resonance and youth-centric brand positioning.