Agritech startup Produze has raised $2.6 million in its seed funding round from Accel.
The round also saw participation from various prominent investors including Thirukumaran Nagarajan and Kartheeswaran KK (Ninjacart), Pawan Gupta and Abhishek Sharma (Fashinza), Anil kumar SG (Sammunati), Pushkar Mukewar (Drip Capital), Naisheel Verdhan and Rahul Gill (CityMall), Ranjith Mukundan (Stellapps), Pravin Jadhav (DhanHQ), and Angad Kikla.
The startup plans to use the funds to enhance distribution and sourcing capabilities and digitize the entire cross-border supply chain.
The Bengaluru-based Produze was founded in 2022 by Ben Mathew, Gaurav Agrawal, Rakesh Sasidharan and Emil Soman, It helps agricultural farmers to sell their produce directly to international retailers and earn better profit margins.
The startup also helps international retailers to get fresh products of better quality and at competitive prices.
Its founding team has experience in the agritech and B2C sectors. Prior to this, Ben and Gaurav were working with agritech startup Ninjacart, while Emil co-founded a startup called Dockup.
“Cross border supply chain for agri produce is fragmented with several intermediaries and poorly managed processes, which creates inconsistency in quality, inefficient prices and wastage thus, leading to loss in value for agri producers, retailers and distributors. At Produze, we are enabling seamless commerce between agri producers and retailers to return this wasted value back to them,” said, Ben Mathew, cofounder and CEO, Produze.
“We are excited to partner with Produze team to help digitize the global agri-trade. We feel Produze technology and supply chain capabilities can help improve the selection of fresh farm produce for customers at more affordable prices while compensating the producers fairly,” said, Pratik Agarwal, principal at Accel.
Produze enables agri producers to sell directly to international retailers and distributors, helping retailers with consistent quality, competitive price and 100% availability, and helping agri producers with higher margin international distribution.