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B2B fruit platform Vegrow raises $46 mn in Series C funds
Mint Mumbai
|December 14, 2023
Vegrow, a business-tobusiness agritech platform, has raised $46 million in its Series C round, led by Singapore sovereign wealth fund GIC, the company said in a statement on Wednesday.
Existing investors Prosus Ventures, VCCI Matrix Partners India, Elevation Capital, and Lightspeed also participated in the round.
The latest round, which is a mix of primary and secondary capital, provides an exit to some of Vegrow's early investors including Better Capital, Titan Capital and a few angels. Vegrow, owned by Chifu Agritech Pvt Ltd, is valued at about $285-290 million post the transaction.
Co-founder Shobhit Jain told VCCircle the startup will use the funds to deepen its presence in the country, and also improve its international network.
The Bengaluru-based company was set up in 2020 by IIT alumni Jain, Praneeth Kumar, Mrudhukar Batchu and Kiran Naik.
Dit verhaal komt uit de December 14, 2023-editie van Mint Mumbai.
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