Agri-tech startup FreshVnF raises $2 million in seed funding round
Category: #retail  By Pankaj Singh  Date: 2019-05-30
  • share
  • Twitter
  • Facebook
  • LinkedIn

Agri-tech startup FreshVnF raises $2 million in seed funding round

VNF Ideas Pvt. Ltd, which runs Agri-tech startup FreshVnF, has collected $2 million in a funding round led by venture capital firm, Equanimity Ventures. GVFL (Gujarat Venture Finance Limited) & Manish Choksi (non- executive vice chairman of Asian Paints Ltd.) also participated in the round. The fund raised will be deployed to grow the company’s farm network, for consistent supply, cites source.

For the record, FreshVnF, founded by Atul Kumar, Sumit Rai, Ashish Krishnatre & Vikas Dosla, is a 2018 startup company, that uses machine learning driven technology platform to connect farmers with restaurants, hotels & cafes, enabling an optimized fresh produce supply chain. This helps in creating market linkage for farmers by streamlining the supply chain to bring efficiency and transparency in the system. The consumers can procure fresh fruits & vegetables online, with the data-driven inventory. Under the brand name Fraazo, it caters to retail consumers as well.

Presently, the startup delivers over 15 tons of fresh vegetables, fruits & farm produce in a day and has 300 outlets on board. It plans to get more than 5,000 clients on board and an operating volume of over 100 tons per day, within a year.  

Rajesh Sehgal, Managing Partner at Equanimity Ventures was reportedly quoted saying that it has been a challenge for years to supply fresh produce from farm to fork. FreshVnF is trying to change this by leveraging technology, mobile penetration & availability of cheap data to build a supply chain, which is efficient and transparent. It also aims at reducing wastage and simultaneously ensure that fresh produce reach consumers.

Co-founder of FreshVnF, Atul Kumar, reportedly said in a press statement, that the company has plans to use the new funds to grow farm network for consistent supplies. The company aims at providing fresh farm produce within 16 hours of harvesting, to the end customer. It is also aiming at increasing its retail footprint & service to over 1 lakh retail customers in a year.

Source credits: https://inc42.com/buzz/freshvnf-raises-maiden-funding-in-round-led-by-equanimity-ventures/

https://m.dailyhunt.in/news/india/english/yourstory-epaper-yourstory/one+year+old+agri+tech+startup+freshvnf+raises+2+million+in+maiden+round-newsid-117476284



About Author

Pankaj Singh

Email: [email protected]   

Pankaj Singh

Pankaj Singh Develops content for Market Size Forecasters, Algosonline, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

Read More

More News By Pankaj Singh

US buys all of the global supply of Gilead’s COVID-19 drug remdesivir
US buys all of the global supply of Gilead’s COVID-19 drug remdesivir
By Pankaj Singh

While top-notch companies are racing to develop a vaccine for COVID-19, it looks like the United States has secured almost all of the world’s supply of interim drug remdesivir to treat patients with COVID-19.

...

Potential COVID-19 vaccine by Bharat Biotech to enter clinical trials
Potential COVID-19 vaccine by Bharat Biotech to enter clinical trials
By Pankaj Singh

Bharat Biotech International, a leading Indian biotechnology company, has reportedly announced that its potential coronavirus vaccine, Covaxin, has received Drug Controller General of India (DCGI) approval to start hum...

Seattle Genetics reveals positive data from tisotumab vedotin trial
Seattle Genetics reveals positive data from tisotumab vedotin trial
By Pankaj Singh

Seattle Genetics, Inc., a renowned biotechnology firm that focuses on developing antibody-based cancer treatments, has recently revealed positive topline data from its Phase 2 clinical trial (innovaTV 204) assessing ti...