PE Fund Investments
B2B agritech marketplace Vegrow raises $25-M
Vegrow, a Bengaluru-based business-to-business (B2B) agritech marketplace for fruits, has raised USD 25 million (about INR 198 crore) in its series B investment round led by Prosus Ventures. The company's existing investors Matrix Partners India, Elevation Capital, Lightspeed Venture Partners and Ankur Capital also participated in this round. Vegrow helps bridge demand and supply for fruits, aggregating multiple channels (wholesalers, semi-wholesalers, modern trade and general trade) in 100 cities on the demand side and more than 20,000 farmers on the supply side. The founders together hold around 40% of the equity, with the institutional investors holding the remaining. The company will use the new capital to expand its geographic presence, hiring and strengthen its tech stack.
From the Venture Intelligence PE-VC Deal Database: Between Jul-20 and Jul-21, VeGrow had raised over USD 15 M from Ankur Capital, Matrix Partners India, Lightspeed Ventures, Elevation Capital, Others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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