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Wednesday, Jan 19, 2022
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Chennai-Based Agritech Veg Route Raises Pre-Seed Funding From Fintech Founders

The company plans to use the funds to expand in Tier-2 and Tier 3 cities by employing technology as well to build a strong in-house team which could also enable the business to run successfully across 300 destinations

Chennai-Based Agritech Veg Route Raises Pre-Seed Funding From Fintech Founders
Chennai-Based Agritech Veg Route Raises Pre-Seed Funding From Fintech Founders
outlookindia.com
2021-12-01T16:05:20+05:30

Veg Route, an agri tech fresh produce B2C supply chain, said it has secured $125K in a pre-seed funding round led by the founder of IppopayMohan K, CEO and Jai Kumar, CTO, Prabhu R, Co-Founder, M2P Fintech.

UAE-based fintech startup Foloosi’s founder Omar Bin Brek also contributed to the round.

The company plans to use the funds to expand in Tier-2 and Tier 3 cities by employing technology as well to build a strong in-house team which could also enable the business to run successfully across 300 destinations in India by 2025.

Shyam Prashad Rajasekaran, Co-founder and CEO, Veg Route said, the company is been on the ground for about 12 months and it was a rollercoaster ride from engaging farmers to understanding the fresh produce market and customer acquisition in major towns even Tier-2 and Tier-3 cities.

“We engaged in funds raising much better and faster than what we were in last 1 year. This funding will help VR India's B2C supply chain platform connecting farmers and consumers.”

Veg Routeis helpingfarmers by eliminating middlemen engagement and is building the tech and data-driven supply chain platform which enables farmers to sell produce at the best pricing.

Major factors that disrupt the market are eliminating middlemen in the whole supply chain process along with quality checks of fresh produce from farms and helping consumers to derive 3 things at a stretch quality produce at the best pricing and within 24-hour delivery.

Mohan K Says, CEO and Co-Founder, Ippopay said, “Veg Route’s depth of understanding the market, coupled with their approach to use technology and to drive scale is what we decided and made us invest in Veg Route.”

 

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