S4S Technologies, a company using innovative technology to restore and add value to India’s inefficient agricultural supply chain, announced it has closed a $1.75 Million pre-series A round led by Acumen Fund, along with Factor[e] Ventures and (C-SAW).
The startup will utilise the current financing to further develop their network of rural women drying partners, expand their dehydrated product customer base, and optimize their core business systems to prepare for rapid growth in the future.
Factor[e] Ventures first invested in S4S in 2018 when the company was comprised of Dr. Vaibhav Tidke and a group of technical and operational experts aspiring to empower rural women and reduce food waste with their patented solar conduction dryer. The UN award winning technology allows agri-entrepreneurs to easily dehydrate produce, extending its shelf life up to one year without any chemicals.
S4S offers a suite of solutions across the value chain to improve the way produce is graded, sorted, preserved, processed, and consumed by over one million people in India. They are supporting hundreds of female agri-entrepreneurs, providing dehydrated products to over 650 industry customers including global food brands like Nestle, Sodexo, Indian Railways, Marico and have successfully piloted their solar conduction dryer in 14 countries.
“S4S has great potential across crops and value chains to create additional stable income for farmers and women—all while providing phenomenally convenient and flexible ingredients to packaged food players and restaurants. The business has huge potential to grow across different agricultural value chains while being environmentally positive,” says Acumen India Director Mahesh Yagnaraman.
“We are thrilled with the progress that the S4S team has made since we first invested,” commented Seth Silverman, Principal from Factor[e] Ventures. “S4S is transforming agricultural value chains in India and dramatically improving the lives of their rural women partners while meeting the demand for healthy food, which is growing exponentially. Doubling down on S4S was a no-brainer for us.”
“The Indian agri supply chain is fragmented and inefficient. At S4S, we process at farm gate to create value-engineered food products. These food products are convenient to use, shelf-stable, and save money. This sustainable supply chain eliminates the middlemen and allows S4S to work with farmers and customers directly. We are happy to partner with Acumen Fund, Factor[e] Ventures, and CSAW,” shared S4S Technologies CEO, Dr. Vaibhav Tidke.
“At C-SAW, we believe in a world where farmers prosper, consumers eat healthy and food companies are transformed. The S4S business model is whole-heartedly aligned with our mission, and we are glad to be a part of this journey,” beamed Ashok Vasudevan, founder of C-SAW, and also the Chairman and founder of the popular Tasty Bite consumer foods brand.
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