Bengaluru-based farm-to-consumer startup Deep Rooted has raised $12.5 million in a new financing round led by IvyCap Ventures, along with the participation from existing investors — Accel, Omnivore, and Mayfield.
Founded in 2020 by Avinash B R, Gururaj Rao, Arvind Murali, and Santhosh Narasipura, The startup said it runs the largest number of greenhouses across India and provides urban residents with the choice of over 200 fresh fruits and vegetables delivered to their doorstep.
Currently operating in Bengaluru, Hyderabad, and Chennai. Deep Rooted plans to use the raised capital to expand its operations to new cities in Southern India, improve tech capabilities, and hire talent across marketing, sales, and business functions.
“We are thrilled to partner with IvyCap as we expand across South India, working directly with farmers and delivering the freshest fruits and vegetables to urban consumers,” said Avinash BR, co-founder of Deep Rooted.
Speaking on the investment, Ashish Wadhwani, partner at IvyCap Ventures, said, “Fruits & Vegetables (F&V) as a category is ripe for disruption. Deep Rooted, with its focus on F&V, has already showcased a sustainable and profitable view of the opportunity while delivering value to both the farmers and end consumers. We’re excited to be a part of their growth journey.”
“Consistent high quality and sustained availability are the two key factors in this category to win consumer trust and Deep Rooted delivers both with its end-to-end management of the supply chain. They have already built a substantial base of happy consumers and I look forward to seeing them scale this in South India and beyond,” said Prashanth Prakash, Partner at Accel.
Source @Indianstartupnews
