Agritech startup Nutrifresh raises $5 million in its pre-series round of funding
- ByStartupStory | May 30, 2022
Nutrifresh Farm Tech India Pvt. Ltd, the company behind the agritech startup Nutrifresh, announced on Monday that it had raised $5 million (roughly Rs 39 crore) in a pre-series seed funding round led by Theodore Cleary (Archer Investments), Sandip Bhammer (Green Frontier Capital), Sky Kurtz (Pure Harvest AE), and Mathew Cyriac (Florintree Advisors and ex-Blackstone India). The business intends to use the new funds to expand operations, improve product traceability and transparency, market, and develop an integrated farm-tech platform.
Nutrifresh, founded by Sanket Mehta and Ganesh Nikam, strives to supply consistent pesticide-free, nutrient-rich hydroponic vegetables. Its clients include over 100 B2B aggregators in the Indian market, including Nature’s Basket, Big Basket, Swiggy, Kissan Konnect, McDonald’s, Venky’s, Amazon Fresh, and Reliance Fresh.
Mehta said that Nutrifresh is dedicated to offering targeted hydroponic farming that is strong, tech-enabled, IOT-based, and produces consistently. The financing in the agritech field is a validation of the premise that residue-free and quality vegetables are most important in an urban lifestyle, and Nutrifresh is focused on delivering quality food security. Nutrifresh intends to use the current round of investment to increase production capacity and standardise the manufacturing process, therefore scaling farms with the necessary SOPs to obtain a competitive advantage. Nutrifresh aims to become a household name, he concluded.
Sandip Bhammer, managing partner of Green Frontier Capital stated that. Agri and food tech are both important target areas for the firm’s climate-focused venture fund, and we are always keen to investigate and invest in creative firms with compelling models. Nutrifresh fulfils all of these requirements and more. The most unique thing 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.
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