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New Delhi, May 2 (IANS) 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.
--IANS
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