Food-agri business startup Fresh From Farm has raised over 3.2 crore in seed led by Inflection Point Ventures.
The company plans to deploy the funds in team building, inventory management, capital expenditure, research & development and branding, Fresh From Farm said in a press release.
Founded by Rohit Nagdewani, Fresh From Farm sells fruit and vegetable products under the private label and aims to alter the dynamics of fruit and vegetable production through a targeted, data-driven predictive analysis. The startup helps buyers procure fresh and quality fruits, delivered to their doorstep and increases income by 13%. Fresh From Farm said that it keeps the demand-supply balance intact while reducing fruit waste at the merchant level.
The Delhi-based firm claims to have made Rs 78 lakh in FY22 and is working to improve its fruits and vegetables trade margin. It also claims to have access to more than 1,000 sales touchpoints for 30X growth in the next 12-15 months. It competes with Otipy, Bigbasket, and Blinkit. Fraazo, a fresh farm produce focused quick commerce startup is on the verge of complete shutdown. Entrackr exclusively reported about the development in August.
In May, Inflection Point Ventures launched Physis Capital, a $50 million AIF CAT II venture capital fund. According to IPV, it will look to invest in 15-20 startups through pre-Series A to Series B funding rounds with check sizes ranging from $2 million to $10 million.
So far, it has invested in more than 100 startups across sectors such as consumer tech, edtech, healthtech, fintech, B2B SaaS, social and content commerce. The fund has also secured full exits from a clutch of startups such as BharatPe, Hobspace, Fitso, Qbera and Pedagogy, among others.
Source @Entrackr
