[Funding alert] Elevate Foods Secures US$525,000 Pre-seed Funding to Empower Indian Farm-Gate Processors

Elevate Foods, South Asia’s first company dedicated to uplifting Indian farm-gate processors and facilitating their access to global markets, announces the successful closure of its pre-seed funding round led by Singapore-based climate-focused investors Wavemaker Impact (WMi), The investment of US$525,000 underscores Elevate Foods' commitment to harnessing the cross-border trade opportunity for agri produce, empowering Indian processors with enhanced quality management tools and market insights.

By encouraging farm-gate food processing to increase sustainability and decrease waste, Elevate Foods' creative strategy steps in at the source of the product and gives processors the resources and assistance they need to satisfy quality requirements and get access to global markets.

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"We are thrilled to announce the successful closure of our pre-seed funding round with the backing of Wavemaker Impact," said Gayatri Bhatia, CEO and Founder of Elevate Foods. "This investment marks a significant step towards our mission of empowering Indian farm-gate processors to bring our produce to the world, whilst fostering a more sustainable and resilient food ecosystem."

In alignment with Elevate Foods' mission, The Asian Food Factory, a regional food distribution agency with its own supermarket chain, ‘Bazaar’, across Singapore and other parts of Southeast Asia, expressed enthusiasm for the partnership.

"We see immense potential in Elevate Foods' creative approach of working through uplifting Indian farm-gate processors to tackle the trillion-dollar food waste issue, which today is the source of more than 4.5 Gigatonnes of Carbon Dioxide Emissions Equivalent (GtCO₂e)," said Quentin Vaquette, Founding Partner at Wavemaker Impact. "By addressing the challenges faced by processors through greater profit-purpose alignment, Elevate Foods is poised to unlock new opportunities that will drive meaningful change in both the agricultural and food processing sectors."

"We are excited to collaborate with Elevate Foods to bring high-quality Indian agri produce to international markets under our private labels," said Abhay Sharma, CEO. "Their commitment to enforcing quality norms and empowering local processors perfectly aligns with our vision of fostering sustainable cross-border trade."

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About Elevate Foods

A forward-thinking business, Elevate Foods is committed to enabling Indian farm-gate processors and opening up international markets for them. Elevate Foods seeks to close the gap between domestic processors and foreign purchasers by offering improved quality management tools and market data. This will promote a more resilient and sustainable food ecosystem while generating good social effects.

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