JustDeliveries, a provider of logistics solutions for perishables, has raised $1 million in a pre-Series A funding round led by Nabventures, according to ETtech report.
Other investors including Faad Network, Anay Ventures, Caret Capital and Mahansaria Family Office also participated in the round.
Nabventures, a subsidiary of the Indian government’s National Bank for Agriculture and Rural Development (Nabard), is a venture growth equity fund that invests in agritech, foodtech, rural fintech, healthtech and edtech startups.
With the latest investment in place, Mumbai-based JustDeliveries said it aims to deepen its logistics network across regions including Bengaluru, Mumbai, Pune and the national capital region. It will also launch operations in Hyderabad.
“In the last two years, over 70 F&B companies have outsourced their logistics to JustDeliveries, thus benefiting from last-mile efficiencies and reliability of operations,” Mansi Mahansaria, founder of JustDeliveries, said.
Prior to founding the company in March 2022, Mahansaria worked at Tata Housing Development Company and IDFC.
“The lack of proper storage and distribution infrastructure significantly contributes to the food wastage problem in India. By partnering with JustDeliveries, we believe we can empower businesses to effectively reduce wastage of perishable commodities, leading to a more sustainable and efficient food supply chain across India,” Vikas Bhatt, managing director of Nabventures, said in the statement.
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.