Vegrow secures $46M in Series C led by Singapore’s GIC
- ByStartupStory | December 13, 2023
Vegrow, a Bengaluru-based agritech firm, specializing in a business-to-business (B2B) fruits marketplace, recently concluded its Series C funding round. The significant investment totaled $46 million, led by Singapore’s sovereign wealth fund, GIC. Notably, this round saw participation from existing investors such as Prosus, Matrix Partners India, Elevation Capital, and Lightspeed.
The infusion of funds is earmarked for expanding Vegrow’s operations within India and fortifying its global footprint. This initiative aligns with the company’s mission to unite fruit traders and buyers from both the demand and supply sides on a single platform. Avendus, serving as Vegrow’s financial advisor, played a pivotal role in orchestrating the deal.
This Series C round marks a significant milestone for GIC, marking its inaugural investment in India’s agritech and B2B sectors. Founded in 2020 by IIT alumni Praneeth Kumar, Mrudhukar Batchu, Kiran Naik, and Shobhit Jain, Vegrow has steadily emerged as a vital player in the market, facilitating connections between diverse stakeholders in the fruit supply chain.
Overall, this funding round not only bolsters Vegrow’s financial standing but also signifies GIC’s strategic entry into India’s thriving agritech landscape, positioning Vegrow as a key player in the B2B fruit marketplace.
Follow Startup Story
Related Posts
