Nutrifresh, an agritech startup that focuses on hydroponically-grown produce. The Pune-headquartered company has raised $5 million in a Pre-Series A funding round of funding which was led by Archer Investments, Green Frontier Capital, Blackstone India, Lodha Group, and many more. The major aim of the investment was to set up India’s largest soil-less farms.
These fresh capital fundings will be utilized in the following ways:
Nutrifresh is coo-founded by Sanket Mehta and Ganesh Nikam. The vision of the company is to provide consistent pesticide-free hydroponic produce which is rich in nutrients. Nutrifresh mentioned that it is focusing on the quality of its products and has been certified by ISO, FSSAI, APEDA, HACCP, and GLOBAL GAP.
The existing facility of the company is under protected cultivation which guarantees to use of high-quality seeds from Israel and the US. At these offers, the air is supplied in controlled measures, water is RO-purified, and nutrients are water-soluble. The entire production is controlled right from procurement of seeds, germination, nursery, harvesting, packaging, and delivery of the product to the end-user. The final product reaches the consumer within 24 hours of harvest.
Nutrifresh is supplying its products to over 100 B2B (business-to-business) aggregators in the Indian market and to new-age trade aggregators and delivery partners like Nature’s Basket, Big Basket, Swiggy, Kissan Konnect, and Zomato Hyperpure.
Over 80 % of their farm workforce is women and the company is aiming to train them with the most modern techniques and achieve complete self-sustenance.
Sanket Mehta, Co-founder, Nutrifresh Farm Tech Farms Pvt Ltd, said, “Team Nutrifresh is extremely committed to bringing focused hydroponic farming which is robust, tech-enabled, IoT (Internet of Things)-based, and gives consistent production. The funding in the agtech space is the proof of concept encircling the fact that residue-free and quality veggies are most critical in urban lifestyle and Nutrifresh is focused on bringing quality food security.”
“With the current round of funding, Nutrifresh aims to enhance the production capacities and bring in standardization in the production process thus, scaling the farms with requisite SOPs to gain a higher competitive edge. Nutrifresh wants to establish itself as a household brand,” Sanket added.