fbpx

Egreens funding

egreens fund

Agritech-focussed investment firm Egreens announced on Wednesday that it has established a Rs 15 crore agritech fund for early-stage startups in India. 

The firm will focus on those agritech startups that use innovative technologies and disruptive business models across the entire value chain of food production, storage, and transportation, the company said in a statement. 

Egreens is looking to focus on startups with innovative market connections, the use of AI and machine learning (ML) in farming methods, and IoT (Internet of Things) implementation across the supply chain, the statement added.

The company has already invested Rs 15 crore in its own venture — VegEase — which sells fruits and vegetables with its cart-at-home model. 

Since its launch in January 2021, VegEase has gained a turnover of Rs 70 lakh, with a customer base of more than 15,000 in the Delhi-NCR region. The venture onboarded 5,000 customers in April 2021 alone. 

The company also claims to have gained a return rate of 0.25 percent of rejected produce as against the industry average of 2-3 percent. VegEase plans to use the freshly raised funds to expand into the B2B space. 

Commenting on the development, Mayank Chaurasia, Founder and CEO, Egreens, said, “The agricultural supply chain in India is very fragmented, with last-mile delivery being almost missing. Therefore, it offers a tremendous opportunity to identify and invest in the right startup, which is trying to solve this problem.”

Egreens is planning to invest in startups that will ultimately create forward and backward alliance with VegEase. 

“While VegEase is present in the B2C segment, we want to increase our footing in the B2B and B2B2C segments in diverse markets,” he added. 

CFO Arpit Katta said, “For Egreens, investment-driven on consumer insights is a process of keeping growth on the track effectively and surely.”

Don’t keep wondering about funding, you can also raise funds. Learn how to raise funds here: Yes I want to raise funds.

If you are an emerging startup and are looking for investors to

raise funds, StartupLanes has its own angel network and investment banking

services and is connected to angel investors and VCs in 15 countries that

ensure that our member startups have easy access to external funds to scale up

constantly.

You can subscribe to our news posts by entering your email in

the box on the right side of this page.

The right investment is key to beating inflation and growing your wealth. Do you wish to become an angel investor? Yes, I want to be an angel investor.

Are you a startup and facing challenges in your business? Do you want to grow your business? It is not as difficult as it sounds. Learn how to grow your business here- Yes, I want to grow my business.

For publishing an advertorial article about your company on our website, drop an email at taniya@startuplanes.com

Tags

top