Superplum Secures $15 Million Funding to Expand Premium Fresh Fruit Business

• ByStartupStory     |    May 7, 2024

Agritech start-up Superplum announced today the successful completion of its Series A funding round, raising an impressive $15 million from investors to fuel the expansion of its premium fresh fruit business.

The funding round was led by incoming Chairman Erik Ragatz, a former Partner and current Senior Advisor of global private equity firm Hellman & Friedman. Ragatz expressed his confidence in the company’s disruptive potential, stating, “Superplum is a hugely disruptive player in existing produce markets in India and has the opportunity to create an incredibly valuable enterprise.”

Superplum, founded in 2019, has established a direct-from-farm produce supply chain empowered by proprietary technology and cold-chain infrastructure, revolutionizing the cultivation and delivery of fresh produce across India. The company’s CEO and co-founder Shobhit Gupta highlighted the importance of technological advancements in the fresh produce sector, remarking, “While India has made huge strides in different domains, fresh produce remains lacking in technology and investments.”

The company’s innovative approach includes offering traceability features that enable consumers to track the journey of each batch of fruit from farm to table, providing insights such as pesticide test reports. Superplum’s vertically integrated cold chain technology ensures enhanced fruit quality and extended shelf lives, ultimately reducing food waste and improving farmer incomes.

Superplum currently operates across 22 states in India, managing modern sourcing and supply chains for 25 different fruits throughout the year. Its premium fruits, including mangoes, litchis, apples, grapes, cherries, and plums, are available both online through platforms like Amazon Fresh, Zepto, Swiggy, and Blinkit, and in major retail chains such as Spar, Metro, Lulu, Modern Bazaar, More, and Trent, as well as numerous neighborhood stores in NCR and Bengaluru.

The company’s expansion plans include entering the Mumbai market and recently launching globally branded traceable products. With a world-class supply chain in place, Superplum sees significant growth opportunities for premium Indian mangoes, lychees, and other tropical fruits.

Superplum’s commitment to transforming India’s fresh produce landscape through technology-driven solutions has garnered strong support from notable investors including Mark Siegel, Dan Rose, Steve Jurvetson, Rick Kimball, Binny Bansal, and Kabir Misra. Erik Ragatz’s leadership as incoming Chairman signals an exciting new phase for Superplum’s journey towards becoming a leading player in India’s fresh fruit industry.

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