Eggoz, a Bihar-based egg producer and agritech startup, announced it has raised Rs 2.5 crore as part of its seed funding to fuel its growth and expansion plans. Earlier, the startup had raised Rs 1.2 crore from a clutch of angel investors.
Investors that took part in the seed funding round include Tracxn Labs, Angellist, Tri-Deep Capital, founders of Letstransport, and Angel investors along with existing investors — Narendra Sankar, Sunil Mishra, and Vishal Sharma.
Uttam Kumar, an IIT Kharagpur alumnus and Eggoz founder, said, “Eggoz poultry farming is one of the most profitable and stable business to generate allied income for many marginal farmers as well as to fulfill protein enriched food requirement of the growing population.”
Abhishek Goyal, Founder, Tracxn Labs, said, “India egg supply chain is largely unorganised. There is an opportunity for a player to implement best practices in production and create a trustworthy consumer brand. We were quite impressed by the founding team’s passion to solve this market.”
Eggoz was founded in December 2017 by Abhishek Negi, Uttam Kumar, Aditya Singh and Pankaj Pandey. The startup said it works with farmers under deep integration at several locations in North India, using cutting-edge nutritional engineering and technology to produce eggs. With Eggoz technology and integration platform, farmers can rear flock sizes starting from 500 birds at affordable initial investment and less land requirement, it added. With these novel efforts, the startup claims that it is working in line with the government’s intention to double farmers’ income in order to make villages self-reliant for nutrition and livelihood.
Eggoz claims that it has so far sold over two crore eggs, and has more than 1,00,000 birds under management.
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