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Poshn, an agritech startup, said that Prime Venture Partners and Zephyr Peacock India led a pre-Series A investment round that brought in $4 million in equity and $2 million in debt.
The business intends to use the capital to develop its cutting-edge suite of solutions to fill in the gaps in the current system. Additionally, it wants to take its firm global by importing and exporting profitable goods to the Middle East and Southeast Asia.
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“Poshn has already cemented its position in the wholesale segment over the last three years. With the trust of investing partners and infusion of fresh equity, we aggressively integrate forward and backward in the chain and open foreign/export markets over the next 12 months while growing profitably,” Poshn cofounder Shashank Singh commented.
The company has had a six-fold increase in revenue during the last three years, and it has turned a profit. The company works in more than 16 Indian states.
“Poshn is using technology to simplify and organize the fragmented food value chain in India. Both buyers and suppliers are adopting Poshn's platform for convenient access to quality products at competitive prices. We are excited to partner with Shashank and Bhuvnesh,” said Mukul Gulati, managing partner, Zephyr Peacock India.
About Poshn
Poshn, which was founded in 2020 by Shashank Singh and Bhuvnesh Gupta, uses AI algorithms to offer a single platform for the wholesale purchase and sale of products in a market.
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