STOCK MARKET BSE NSE

Egreens sets up Rs 15 crore fund for agritech startup

The company has already invested Rs 15 crore in its own venture VegEase, which sells fruits and vegetables with its cart-at-home model.

Published: 02nd June 2021 02:02 PM  |   Last Updated: 02nd June 2021 02:02 PM   |  A+A-

Farmers, Agriculture

Representational Image. (File | EPS)

By PTI

NEW DELHI: Investment firm Egreens on Wednesday said it has set up a fund worth Rs 15 crore for agritech startups.

Egreens will focus on startups that use innovative technologies and disruptive business models across the entire value chain of food production, storage and transportation, the company said in a statement.

The company has already invested Rs 15 crore in its own venture VegEase, which sells fruits and vegetables with its cart-at-home model.

Since inception in January 2021, VegEase has achieved a turnover of Rs 70 lakh and a customer base of over 15,000 in Delhi/NCR region.

Mayank Chaurasia, Founder and CEO, Egreens, said, “the agricultural supply chain in India is very fragmented, with last mile delivery being almost missing.

Therefore, it offers a tremendous opportunity to identify and invest in the right start-up who is trying to solve this problem.

Egreens is looking to invest in startups that will eventually create forward and backward integration with VegEase.

"While VegEase is present in the B2C segment, we want to increase our footing in the B2B, B2B2C segments in diverse markets," he said.

The company's CFO Arpit Katta said, “For Egreens, investment driven on consumer insights is a process of keeping growth on the track effectively and surely”.

 



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp