Produze has been able to raise $2.6 Million in its initial financing round, that was led by Accel
Produze plans to use the funds to distribute as well as sourcing capabilities. It will also digitize the entire international supply chain
The company helps farmer directly offer their product to retailers across the world and make more profits
Agritech company Produze has secured $2.6 Mn in its initial financing round, which was under the direction of Accel.
All In Capital, Thirukumaran Nagarajan and Kartheeswaran KK from Ninjacart, Anilkumar SG from Sammunati, Pawan Gupta and Abhishek Sharma from Fashinza, Pushkar Mukewar from Drip Capital, Angad Kikla, Naisheel Verdhan and Rahul Gill from CityMall, Ranjith Mukundan from Stellapps and Pravin Jadhav from DhanHQ were also part of the round of funding.
Produze plans to use the funds to improve the capabilities of distribution and sourcing and , in addition, digitize the entire supply chain that crosses borders.
“We are thrilled to join forces with the Produze team to aid in digitizing the global Agri-trade. We believe Produze’s technological capabilities and the supply chain could assist in enhancing the availability of farm products that are fresh for customers at a lower cost and also compensate farmers with fair compensation,” said Pratik Agarwal Principal at Accel.
In 2022, Produze was founded in 2022 by Ben Mathew, Gaurav Agrawal, Rakesh Sasidharan and Emil Soman, Produze helps agriculture farmers directly market their product to international retailers , and generate higher profits. Additionally, it aids retailers from around the world to get fresher produce with better quality and at competitive costs.
“Cross borders supply chains for agricultural products is broken up by multiple intermediaries and poorly controlled processes, which leads to inconsistencies with regards to quality, poor pricing and waste, which leads to losses for producers, retailers and distributors. At Produze we’re helping to facilitate seamless trade between agri-based retailers and producers to bring this value lost the consumers,” said Ben Mathew Co-founder and CEO of Produze.
Produze’s founding team has years of experience in B2C and Agritech sectors. Prior to that, Mathew and Agrawal were working with the agritech start-up Ninjacart while Soman created a company named Dockup. In the same way, Sasidharan as well as Mathew also created an online marketplace for cooking at home.
In the agritech industry it is in competition with such companies as Eeki Foods, AGRIM, Arya.Ag, WayCool and Vegrow and many other companies.
In the businessheaders study the agritech industry in India was valued at $24 billion in 2020. Another report says that India’s agricultural technology industry could reach the $35 billion by 2025.