Fresh From Farm seeks to utilise the prospects of this investment round in team building and brand management
Delhi-based food agritech firm Fresh From Home raised more than Rs 3.2 crore in aseed round funding led by Inflection Point Ventures.
In an attempt to become a key player in India’s $500 million fruit and vegetable market, Fresh From Farm seeks to utilise the capital for team building and brand management. Additionally, it is plans to bolsters its research and development category to increase its product range, the company said in a statement.
Founded by Rohit Nagdewani, the Gurugram-based Indian start-up uses data-driven analytics to influence the Indian food and vegetable market. The company is known for offering doorstep-food services.
Talking about the company, Nagdewani said, "Our AI-based system currently has a confidence rate of 89 per cent allowing us to predict the exact quantities and qualities of fruits that can be sold at particular touchpoints. This has enabled us to reduce the wastage to 2 to 3 per cent while the industry standard is 20-22 per cent. We aim to achieve a 95 per cent accuracy rate over the next 18 months.”
"We liked Fresh From Farm's approach of leveraging tech to solve the challenges that directly impact the three key stakeholders of the fruit and vegetable ecosystem. Their tech and the platform with predictive qualities prompted us to invest in the Company," added Vinay Bansal, founder and CEO, of Inflection Point Ventures, while addressing their investment.
The company claims to have access to more than 100 sales touch points for a 30 times growth within the next 10-15 years. In the financial year (FY) 2022, the company claimed to earn Rs 78 lakhs.
Motovolt Mobility will utilise the funds to offer new products and market initiatives
ZestMoney has been undergoing a rough patch as the Buy-Now-Pay-Later sector is witnessing an overall decline in demand
The round was led by SIG Venture Capital, Tanglin Venture Partners, India Quotient and businessperson Ananya Goenka