Advertisement
Saturday, Nov 27, 2021
Outlook.com
Outlook.com

Agitech Startup SuperZop Bags $4 Million In Series A Funding From Incofin India Progress Fund

SuperZop cofounder said the company has built the business in an extremely capital-efficient manner from its existing backers SIDBI Venture Capital Ltd, CIIE.CO and Angels.

Agitech Startup SuperZop Bags $4 Million In Series A Funding From Incofin India Progress Fund
Agitech Startup SuperZop Bags $4 Million In Series A Funding From Incofin India Progress Fund
outlookindia.com
2021-09-28T12:26:26+05:30

Agritech commerce platform SuperZop has raised $4 million in its Series A funding from Incofin’s India Progress Fund, an India-focused fund of Incofin Investment Management (IM).

Raghuveer Allada, cofounder at SuperZop, said in a press release that the company has built the business in an extremely capital-efficient manner from its existing backers SIDBI Venture Capital Ltd, CIIE.CO and Angels.

“This investment will help the firm to scale the business amongst existing and new geographies that include Tier-1 cities, invest in technology and further expand their product offering,” he said.

“We have developed the right tools like an AI-based quality assessment platform and logistics optimization engine that works for the B2B staples category. One of the key areas of fund deployment will be to build on data science and enhance systems for greater scale”, said Darshan Krishnamurthy, cofounder at SuperZop.

Founded by Raghuveer Allada, Prithwi Singh and Darshan Krishnamurthy, SuperZop has developed the largest staples agri-commerce platform for B2B customers with seamless digital buying experience. The company enables 20k+ retailers, in Mumbai & Pune, to directly source staples from farmers, multiple FPOs and processors from 13 states across India.

Incofin Investment Management is an international impact investment firm with an AUM of $1.2 billion. The firm promotes financial inclusion for rural entrepreneurs and aspires synergies across the agri-food value chain.

Rahul Rai, Partner, Incofin India, said the company is delighted to partner with the high-performance founders of SuperZop who are making an impact by bringing MSME food processors and Kirana stores more closely integrated, thereby delivering value to both farmers and retail consumers.

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

Ordinary People And Their Tales Of Incredible Courage

Ordinary People And Their Tales Of Incredible Courage

In ordinary people live extraordinary tales of courage that speak truth to power

Uttar Pradesh: One Week On, Mystery Shrouds Death Of 3 Dalit Girls

Uttar Pradesh: One Week On, Mystery Shrouds Death Of 3 Dalit Girls

The post-mortem report said that the three girls died 'when they got crushed after coming in front of a train that was passing through'.

IND Vs NZ, 1st Test: Axar Patel's 5/62 Steals Show On Day 3

IND Vs NZ, 1st Test: Axar Patel's 5/62 Steals Show On Day 3

In reply to India's 345, New Zealand were bowled out for 296 runs, thanks to Axar Patel's fifth fifer in seven innings. India finish the day at 14/1, leading by 63 runs.

‘Clock Can Be Reversed In J&K After Farm Laws Repeal’

‘Clock Can Be Reversed In J&K After Farm Laws Repeal’

Former Chief Minister and Member Parliament Dr Farooq Abdullah:'The restoration of early statehood and Article 370 is the only way forward. Otherwise, Kashmiris will continue to bleed and there will be hardly any progress in this part of the world'.

Advertisement