Gurugram-based Eggoz, a consumer brand for eggs, has raised $8.8 million in a Series B funding round led by Mumbai-based IvyCap Ventures and also saw participation from its existing investors such as NABVENTURES, Avaana Capital, and Rebright Partners.
Angel investors such as Vishesh Khurana, Ankit Mehrotra, Sahil Jain, Nikhil Bakshi, and Vivek Kapoor also participated in the rounds as per reported by Livemint.
Eggoz said in a press release that it will use the new funding to expand its business footprint and hire new talent.
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“With this funding, we plan to take Eggoz to more geographies and have a larger impact on the lives of both farmers and consumers, “Eggs are a core part of Indians’ diet. It is nature’s super food and a reliable source of protein & all the important nutrients,” Said Abhishek Negi.
Founded in 2017 by Abhishek Negi, Uttam Kumar, and Aditya Singh. Eggoz procures fresh and chemical-free eggs from farmers to retailers within 24 hours, through its fully-integrated model.Â
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“However, the current state of eggs in India needs to improve, where this category has been under-penetrated in terms of bad hygiene practices, no quality standardization, and an untraceable value chain. We believe the supply chain must be solved to ensure eggs can deliver on their promises.” He added.
“Eggs being a major source of protein and a dietary staple for a huge section of India’s 1.4 billion population, the market potential is tremendous. Eggoz, with its unique model, has the potential to capture this market and become the leader in this segment,” said Vikram Gupta, founder and managing partner, IvyCap Ventures Advisors Pvt Ltd.
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About Eggoz
With a passion to empower farmers and a vision to bring high-quality eggs to the Indian consumer, EGGOZ Nutrition was founded by IIT Kharagpur alumni, Abhishek Negi, Uttam Kumar and Aditya Singh to help farmers increase their yield and income.
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