Chennai, India-based agritech startup Veg Route raised USD 1.1 million in seed funding. The round took place on July 19, 2022. The U.S-based VGROW Ventures led the financing for Veg Route. Meanwhile, the round saw participation from angel investors such as Ravi Shankar Kathirvelu, Mohan K and Jai Kumar (founders of IppoPay), Hari TN, co-founder, Artha School of Entrepreneurship, Abhishek Raj Pandey, head of commercial operations, Mama Earth. Besides, some prominent investors from the U.S, UAE and India joined in the investment.
Purpose of Funding for Veg Route
The startup plans to enhance its technological offerings and data-driven solutions with the latest funding. Veg Route also seeks to establish warehouses and collection centres in small towns and villages in order to strengthen and revolutionise its supply chain. Besides, the company explores investment opportunities in e-vehicles for last-mile delivery operations.
Earlier in January 2022, the startup raised USD 180 K in the pre-seed round. Veg Route aims to expand and connect with more than 50,000 farmers and serve about 250,000 consumers per day in more than 100 cities by 2025.
What the CEO has to say
“Helping farmers to sell their fresh produce at the right pricing and helping people from all walks of life to become our consumers by ensuring the best quality, right pricing, and timely delivery will make us expand and connect with more than 50,000 farmers to about 2.5 lakh consumers per day in over 100 cities by 2025,” said Shyam Prashad Rajasekaran, CEO, Veg Route.
What the investor has to say
Hari TN, co-founder, Artha School of Entrepreneurship, said, “The market is big and current solutions are all suboptimal. There is a huge opportunity to significantly enhance customer experience with a razor-sharp focus on this one category, namely F&V. I like the founder’s grounded yet ambitious personality that is ethical yet extremely hungry to create an impact.”
About Veg Route
Veg Route came into existence in 2020. Anand Alagarsamy and Shyam Prashad Rajasekaran are the founders of the startup. The agritech company caters for an online delivering platform. It offers freshly hand-picked fresh produce from farms to the user’s doorsteps. Veg route has operations in over five cities across tier II and tier III towns of India.
Since it connects farmers directly to the end consumer and, in the process, eliminates intermediaries, Veg Route ensures better pricing for its users.
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