Epigamia co-founder Rohan Mirchandani passed away on Saturday after suffering a cardiac arrest. The entrepreneur had started Drums Food International — the parent of the healthy snacks brand in 2013.
“It is with deep sorrow that Drums Food International confirms the untimely passing of its beloved founder, Rohan Mirchandani, who suffered a sudden cardiac arrest yesterday,” said Drum Foods International Pvt. Ltd. Drum Foods International Pvt. Ltd manages the brand Epigamia.
According to data collected from the research agency Tracxn, the $160 million startup is the third-largest operator in the same segment. Rohan Mirchandani owned a nearly 4.68 per cent stake in the healthy snacks maker.
The 42-year-old executive’s net worth is not publicly available; however, according to the data, the founder had not realised any portion of his holdings. Since the last funding round, his share in the company had dropped to nearly 4.7% from its earlier level of 4.8 per cent pre-funding round, as of the last funding round in December 2023.
Mirchandani was the largest shareholder amongst all the founding members. As per official data Ganesh Krishnamoorthy currently holds a 1% share while Uday Thakker is at 0.4% shareholding, Rahul Jain at 0.4%, and Milap Shah at 0.3%.
About Epigamia
Epigamia is a youth-favourite snack brand that sells healthy snacks and convenience food products. The company sells yoghurt, milkshakes, almond drinks, smoothies, cheese, and flavoured yoghurts.
The company also claims its products are preservative-free, plant-based, lactose-free, etc. The brand is run by a parent company called Drum Foods International Pvt. Ltd, the same company which issued the press statement on the demise of Rohan Mirchandani on Sunday.
Mirchandani was responsible for introducing Greek yoghurt and making it popular among youngsters through his brand approach. The company currently competes with several other players in the market, such as Country Delight at 31 per cent market share, Akshaykalpa at 20 per cent, Milky Kool at 13 per cent, Sid’s Farm at 13 per cent, and Native Milk at 13 per cent.
According to the Trancxn data, Epigamia has nearly 6 per cent market share in the industry.
The company’s net loss widened to ₹67 crore in the financial year 2022-23, compared to its previous level of ₹59.5 crore net loss in the previous year. In total, the company has raised 17 rounds of funding to date and has raised $81.2 million from investors, with the largest round being $25.7 million.
