Agritech platform Farmers Fresh Zone has announced that it has raised Rs 6 crore in pre-series A funding round from existing investors. The fresh funding round was saw participation from Indian Angel Network (IAN), IAN Fund, Native Angel Network and Malabar Angel Network.
Speaking on the investment, Pradeep PS, Founder and CEO – Farmers Fresh Zone, commented, “The Indian fruits and vegetable sector is valued at $100 billion, of which a staggering 96 percent is fragmented and disorganised. At Farmers Fresh Zone, we are building a supply chain that offers a superior customer experience. We ensure our customers get safe-to-eat and pesticide-free products, and that our farmers get the right rates for their produce.”
“We provide them data-based predictive information about the existing demand in the market to eliminate any wastage. We are grateful to have received this funding from marquee investors. We are also thankful to the Kerala Start-Up Mission that played an important part in anchoring this deal. In the coming years, we aim to emerge as the #1 player in the premium fruits and vegetable segment of South India, with key focus in offering health and wellness based products,” Pradeep said.
Nagaraja Prakasam, Investor at IAN and board member of Farmers Fresh Zone, added, “FFZ has consolidated its position strongly during the pandemic by moving 100 percent online and away from physical stores. Growing 600 percent during this time, FFZ is well positioned to crack the D2C fresh FnV space comparable to how on-demand meat delivery has taken off in the country. FFZ is leaving no stone unturned in ensuring the best quality products to their consumers, and helping farmers sell pesticide-free products while securing fair rates for their produce.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.