Vegrow, India's leading B2B fruits marketplace, has raised $46 million in funding to expand its operations and enhance its technological capabilities, with major investments from GIC and existing investors.

Information on the Target

Founded in 2020, Vegrow is a pioneering B2B marketplace for fruits in India, co-founded by Kiran Naik, Shobhit Jain, Mrudhukar Batchu, and Praneeth Kumar. The company has rapidly established itself as a key player in the fragmented and largely unorganized Indian fruit market, leveraging technology to optimize supply chain processes and enhance farmers' income. By employing advanced grading systems and robust demand-supply matchmaking techniques, Vegrow maximizes efficiency and creates a sustainable ecosystem that benefits both farmers and buyers.

Vegrow's unique approach has enabled it to achieve remarkable milestones, including a fivefold revenue increase and operational profitability within just three years of its inception. The company's strategy focuses on agility, experimentation, and data utilization, allowing it to address significant challenges in the agri-sector, such as minimizing inventory wastage through effective supply chain management.

Industry Overview in India

The Indian agricultural market is characterized by its vast potential, with fruits playing a significant role in the overall agricultural landscape. However, it remains fragmented and unorganized, marked by numerous intermediaries that can complicate t