Home Insight FUNDING ALERT - Newly Funded Startups 2024 eFeed Raises INR 1 crore from Klub

[Funding alert] eFeed Raises INR 1 crore from Klub

[Funding alert] eFeed Raises INR 1 crore from Klub
[Funding alert] eFeed Raises INR 1 crore from Klub
eFeed, a precision animal management & nutrition company, has announced that it has raised INR 1 crore from Revenue Based Financing company, Klub and has had an impressive 10x financial growth in 2023 by selling
Ravi Chauhan, Ankit Patel, and Kumar Ranjan, co-founders of eFeed | Source – Omnivore

eFeed, a precision animal management & nutrition company, has announced that it has raised INR 1 crore from Revenue Based Financing company, Klub and has had an impressive 10x financial growth in 2023 by selling their innovative life cycle based nutrition products. The company targets INR 100 crores in annual revenue in the financial year 2025.

eFeed has grown tenfold in income in less than a year, demonstrating amazing growth. The company has maintained profitability while steadily growing its business operations in the competitive nutrition product market by being an online-first business and acquiring a high percentage of digital farmers.

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Kumar Ranjan, Founder of eFeed, commented on the company’s achievements, stating, “This past year has been a testament to our commitment to sustainable growth and making a positive difference in farmers’ lives. We’ve seen exponential growth, scaling our revenue from Rs 10 lakh per month in January to 1 crore per month in 2023. Our focus on profitability and sustainable scaling has been key to our success.”

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In the upcoming year, eFeed hopes to increase its influence and reach while maintaining a strong emphasis on profitability and sustainable expansion. At the moment, the company is well-established in Madhya Pradesh, Uttar Pradesh, and Bihar, and their market share in Maharashtra is growing. With one lakh farmers being a part of its ecosystem, eFeed hopes to reach ten lakh farmers by 2024. With a focus on sustainable working capital usage for long-term scaling, the company is now operating at a 25% blended gross margin and CM 2 positive.

Ishita Verma, Chief Operating Officer of Klub, praised eFeed’s accomplishments and highlighted Klub’s role in accelerating their growth in India, stating, “The Indian agritech sector is set to address the $34 billion market by 2027. eFeed’s dedication to innovation and sustainability aligns perfectly with Klub’s mission to support impactful ventures. We’re proud to partner with eFeed in their journey towards profitability and sustainable growth, driving positive change in the agriculture sector.”

About eFeed

eFeed is a precision animal management & nutrition company that leverages artificial intelligence to build personalized feed recommendations for animals to improve their yields and reduce methane emissions.

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