Funding Alert

Agritech startup Produze raises seed funding from Accel, others

• ByStartupStory     |    August 8, 2022

Agritech startup Produze has raised $2.6 Mn in its seed financing round led by Accel.

All In Capital, Thirukumaran Nagarajan and Kartheeswaran KK from Ninjacart, Anilkumar SG from Sammunati, Pawan Gupta and Abhishek Sharma from Fashinza, Pushkar Mukewar from Drip Capital, Angad Kikla, Naisheel Verdhan and Rahul Gill from CityMall, Ranjith Mukundan from Stellapps and Pravin Jadhav from DhanHQ also participated in the funding round.

Produze intends to use the funds to expand its distribution and sourcing capabilities, as well as to digitise the entire cross-border supply chain.

Principal at Accel, Pratik Agarwal said, “We are excited to partner with Produze team to help digitise the global agri-trade. We feel Produze technology and supply chain capabilities can help improve the selection of fresh farm produce for customers at more affordable prices while compensating the producers fairly,”

“Cross border supply chain for Agri produce is fragmented with several intermediaries and poorly managed processes, which creates inconsistency in quality, inefficient prices and wastage thus, leading to loss in value for agri producers, retailers and distributors. At Produze, we are enabling seamless commerce between agri producers and retailers to return this wasted value back to them,” said Ben Mathew, co-founder and CEO at Produze.

The founding team of Produze has prior experience in the agritech and B2C sectors. Previously, Mathew and Agrawal worked with the agritech startup Ninjacart, while Soman founded Dockup. Similarly, Sasidharan and Mathew co-founded a B2C marketplace for home-cooked food.

About Produze

Agritech startup Produze was founded in 2022 by Ben Mathew, Gaurav Agrawal, Rakesh Sasidharan and Emil Soman. The startup helps agriculture farmers directly sell their produce to international retailers and earn better profit margins. Meanwhile, it also helps international retailers in getting fresh produce at competitive prices and better quality.

 

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