Vegrow, a B2B platform for fruits and vegetables, has secured $13 million in Series A round from investors including Lightspeed Venture Partners and Elevation Capital. The round has also seen participation from existing investors Matrix Partners India, Ankur Capital, Better Capital, and Titan Capital.
The fresh capital will be utilized by the agritech startup to invest in technology, new products, and expansion in 100 cities.
Praneeth Kumar, Shobhit Jain, Mrudhukar Batchu, and Kiran Naik, Founders of Vegrow, said, “At Vegrow, we focus on select products as compared to building a large basket. Each of these products is a multi-billion dollars opportunity. This enables us to go deep in the product value chain and unlock massive growth in this sector.”
“In fact, we have become one of the largest companies for pomegranates in the country in less than a year. We are excited to expand to 100 cities, invest in technology, and launch new products with this fundraise,” they added.
Established in 2020, Vegrow has scaled rapidly among both farmers and B2B customers, resulting in nearly 20 times top-line growth with a presence in over 30 cities. The technology platform powers everything from farm discovery, produce quality profiling, market intelligence to smart matchmaking between farm-level inventory and customer requirements.