Chennai-based agritech start-up Veg Route on Tuesday announced the raising of $125,000 in pre-seed funding.
It will enable the start-up to strengthen its in-house technology team and expand to newer cities
The funding round was led by Mohan K and Jai Kumar, Co-founders of city-based fintech Ippopay, Prabhu R, co-founder of M2P Fintech, and UAE-based fintech Foloosi’s founder Omar Bin Brek.
Founded in July 2020 by Anand Alagarsamy and Shyam Prashad Rajasekaran, Veg Route is a B2C fresh produce agritech supply chain platform. It aims to connect farmers directly to the end consumers and eliminate middlemen. The tech and data-driven supply chain platform enables farmers to sell produce at the best pricing.
Speaking to BusinessLine, Shyam Prashad Rajasekaran, Co-founder & CEO, Veg Route said that the current funding and the mentorship of four fintech founders will enable the start-up to strengthen its in-house technology team and also to expand to newer cities.
Currently, Veg Route operates in six southern cities, the start-up intends to use the fresh funds to expand in tier-2 and tier 3 cities by employing technology. It aims to cover over 300 cities across the country by 2025.
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