Vegrow an Agro-Tech startup raised $46 Million in funding.


Vegrow was founded in 2020 by Praneeth Kumar and Shoaib Mir. It is a platform that connects farmers directly with businesses and retailers, eliminating the need for middlemen. This helps farmers get better prices for their produce and businesses get access to high-quality fruits at competitive prices. Vegrow's technology platform uses data and analytics to optimize the fruit supply chain, reducing waste and improving efficiency. The company has been praised for its innovative approach to solving the problems of the Indian fruit market.

On December 13, 2023, Vegrow announced that it had raised $46 million in a Series C funding round led by GIC, Singapore's sovereign wealth fund. The round also saw participation from existing investors Prosus Ventures, Matrix Partners India, Elevation Capital, and Lightspeed. Vegrow plans to use the funds to expand its reach across India and build its global network.The funding round was one of the largest in the Indian agritech sector in 2023. Vegrow has now raised a total of $86.5 million in funding.The company claims to have grown its revenue by 5x over the past year and is now operationally profitable.

Vegrow's $46 million fundraise is a significant development for the Indian agritech sector. The company's success shows that there is a growing demand for technology-based solutions to the challenges faced by Indian agriculture. Vegrow's platform has the potential to improve the lives of both farmers and consumers, and it is likely to play a major role in the future of the Indian fruit market.

Tags : #startups #investment #funding #fundingupdates #innovation #agrotech #tech #technology #agriculture