Pune, India-based agritech startup Nutrifresh raised USD 5 million in its pre-series seed funding. The round took place on May 30, 2022. Theodore Cleary of Archer Investments; Sandiip Bhammer, the Managing Partner of Green Frontier Capital; and other investors led the funding for Nutrifresh.
The round also saw participation from Sky Kurtz, CEO and Co-founder of Pure Harvest UAE; Mathew Cyriac of Florintree Advisors and ex-MD of Blackstone India; Dr Soumitra Dutta -Dean Elect at Saïd Business School (University of Oxford); Shaishav Dharia Regional CEO, Lodha Group; and Karan Goshar of Samarthya Investment Advisors LLP.
Purpose of Funding for Nutrifresh
The agritech startup will use the latest investment to scale up farm operations. Nutrifresh will also implement complete traceability and transparency of produce.
Besides, it will ramp up marketing operations and create an integrated Farm-tech platform.
What the founders have to say
Sanket Mehta, Co-founder, Nutrifresh Farm Tech Farms Pvt Ltd, said, “Team Nutrifresh is extremely committed to bringing focused hydroponic farming robust, tech-enabled, IoT (Internet of Things)-based, and gives consistent production. The funding in the agtech space is the proof of concept encircling the fact that residue-free and quality veggies are most critical in urban lifestyle, and Nutrifresh is focused on bringing quality food security. With the current round of funding, Nutrifresh aims to enhance the production capacities and bring in standardisation in the production process, thus, scaling the farms with requisite SOPs to gain a higher competitive edge. Nutrifresh wants to establish itself as a household brand.”
What the investors have to say
Sandiip Bhammer, the Managing Partner of Green Frontier Capital, said, “Agritech and foodtech are big focus areas for our climate mitigation-focused venture fund. We constantly look to explore and invest in innovative businesses run by dynamic entrepreneurs with compelling business models. Nutrifresh is all of these and more. But what struck us as being most unique about Nutrifresh was that it was building out an extensive knowledge repository on a wide variety of products through its proprietary agricultural operating system at the largest single-location controlled-environment agricultural facility in the Western region of India (and directly selling to almost 15,000 households in the twin cities of Mumbai and Pune).”
“With our strong experience in the tech sector, we believe there is unmet demand in the healthy produce segment, and we are happy to guide Nutrifresh in its journey to become the largest precision farming player in India and bringing hydroponically grown produce to consumers across India,” said, Sky Kurtz, CEO and Co-founder, Pure Harvest, UAE.
About Nutrifresh
Founded by Sanket Mehta and Ganesh Nikam, Nutrifresh is a Pune-headquartered agritech platform. It aims to provide nutrient-rich and consistent pesticide-free hydroponic produce. Its clientele includes more than 100 business-to-business (B2B) aggregators in the Indian market. Its primary customers are Nature’s Basket, Big Basket, Swiggy, Kissan Konnect, McDonald’s, Venky’s, Amazon Fresh, and Reliance Fresh.
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