IANS | 02 May, 2024
Food-agri startup Fresh From Farm (F3) on Thursday said it raised $2
million in a pre-series A round with participation from VC firm
Inflection Point Ventures.
The funds will be utilised for team expansion, tech enhancement, and to introduce new product lines, said the startup.
Fresh
From Farm takes charge of retailers' operations, overseeing
procurement, handling, sorting, and distribution, enabling them to focus
solely on driving sales.
“While currently delivering at over 300
locations every day, our key focus at wastage reduction and efficient
demand consolidation have allowed for our retailer partners to earn an
average of 29 per cent more than working through traditional channels,”
said Rohit Nagdewani, Founder, Fresh From Farm.
“We are aiming to touch Rs 100 crore ARR (annual recurring revenue) by the end of this calendar year,” he added.
The startup currently has an annual recurring revenue of Rs 40 crore.
"By
offering transparency and efficiency, F3 empowers retailers to sell
quality produce at fair prices, bridging the gap between affordability
and profitability,” said Vikram Ramasubramanian, Partner, Inflection
Point Ventures.
Inflection Point Ventures has invested more than Rs 700 crore across over 200 startups to date.
Ashish
Kacholia, Founder, Lucky Investments, said that consolidation of demand
in an otherwise fragmented and unorganised market is the key driver of
the business.
