Herbal energy shot maker FYRE has raised $500K in a seed funding round from Venture Catalysts. FYRE is claimed to be India\u2019s first functional energy shot that gives a consumer instant energy that lasts for many hours backed by the goodness of Ayurveda.\r\nCommenting on the funding, Vikas Agarwal said, \u201cWith increasing working hours, an energy shot is the need of the hour. FYRE has all the requisites to emerge as an extremely profitable business venture & be category leader in energy shot category.\u201d\u00a0Leading investor Apurva Parekh added, \u201cWe strongly believe in Rahul Manek and his team to make FYRE a winning brand. We believe that the timing is right and we\u2019ll work closely with the team to grow the category."\r\nFYRE was founded by Rahul Manek,ex-Partner of Fairwinds Private Equity(Earlier called Reliance Private Equity). Unlike sports or party hard energy drinks, FYRE is \u2018one-shot\u2019 energy drink for \u2018work-hard\u2019 category and is said to be available at 80% lower price point compared to leading energy drink brands, without compromising on efficacy.\r\nAs stated by\u00a0Rahul Manek, Founder, FYRE,\u00a0\u201cFYRE is conceived in a modern world where people\u2019s energy levels are not keeping up with their ambitions, aspirations and daily workloads.We are solving a real problem of meeting the comprehensive energy needs of a nation\u2019s workforce.\u201d\r\nThe investment in FYRE is led by Venture Catalysts angels - Apurva Parekh (Director, Pidilite Industries),Anupam Mittal (Founder, Shaadi.com), Vikash Agarwal, Manish Agarwal (Founders,Nandan Group) RomilRatra (Cofounder, Bellona Hospitality), Kunal Kishore(Founder, Value 360 Communications) AkshayBardia (Director, AT Plus), Karim Jaffer (MD, Gossip Shoes) Vijay Lakhani, Anil Jain, Amit Agrawal, Anup Agrawal, Dipan Dalal and others.\r\n\u00a0The current funding serves as a shot in the arm for FYRE and will be used by the company to ramp up operations, expanding sales & marketing team and enhance its distribution network.\r\nVenture Catalysts is currently operational in seven cities across India. This includes top metro cities like Delhi, Mumbai, Bengaluru, and Kolkata, as well as tier-2 like cities Lucknow, Raipur, and Surat.\u00a0The functional food and drinks industry is expected to reach $225 Bn by 2024 globally. It is a huge market worldwide and has several successful proven models such as the five hour Energy in the USA with a market of approx. $ 1.2 Bn annually, M-150 in Thailand with a market size of approx. $350 Mn, and Lipovitan in Japan with a market size of approx. $1.2 Bn. \u201cIndia is gearing up for massive growth in this category, a functional energy shot is the need of the hour in India right now. With this funding, we are quite confident to make a huge impact with FYRE in India,\u201d added Rahul.