SuperZop raises $4M in Series A round
SuperZop, an agri-commerce startup, announced that it has raised $4 million in a Series A round from Incofin’s India Progress Fund.
The startup plans to use the freshly raised funds to scale up in existing and new geographies, including Tier-I cities, strengthen its technology and extend its product offering.
Established in 2016 by Raghuveer Allada, Prithwi Singh, and Darshan Krishnamurthy, SuperZop provides an agri-commerce platform for B2B customers like small retailers and restaurants, allowing them to purchase staples directly from farmers and food processors.
Speaking about the funding, Raghuveer Allada, Co-founder of SuperZop, said, “We are excited to partner with the team at Incofin, who brings a lot of depth and expertise in food and agriculture. We have built the business in an extremely capital-efficient manner from our existing backers SIDBI Venture Capital Ltd, CIIE.CO, and Angels.”
Darshan disclosed that a part of the fresh capital will also be used to build on data science and improve systems for a greater scale.
The startup claims to have helped more than 20,000 retailers in Mumbai and Pune to directly buy staples from farmers, multiple FPOs, and processors from 13 states across the country.
Prithwi Singh, Co-founder, SuperZop said, “SuperZop uses a vertically driven product approach to build farm-tech brands with greater sourcing linkages using tech and process innovation. Our farm-tech staples brands have also been extremely well received as there is huge whitespace in branded staples, even in large consumption categories such as rice, wheat, pulses, and dry fruits.”
Commenting on the investment, Rahul Rai, Partner, Incofin India, said, “We are delighted to partner with the high-performance founders of SuperZop, who are making an impact by bringing MSME food processors and kirana stores more closely integrated, thereby delivering value to both farmers and retail consumers. Incofin looks forward to supporting them as they execute on this unique agritech opportunity,” he added.
SuperZop seems to have established itself as a strong player in the agri-commerce space. I’m sure the company will reach new heights of success in its journey ahead. My best wishes to the team of SuperZop.Shishir Gupta, Founder and CEO, StartupLanes
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