Vegrow: Fruit Connect
Year: 2020
Founders: Praneeth Kumar, Mrudhukar Batchu, Kiran Naik, Shobhit Jain
Funding: Seed: ~$2.5 M (June 2020) Series A: $13 M (July 2021) Series B: $25 M (July 2022) Series C: $46 M (Dec 2023)
Investors: GIC (lead), Prosus, Matrix Partners India, Elevation Capital, Lightspeed India, Ankur Capital, Better Capital, Titan Capital
Introduction
Started in 2020 by IIT alumni Praneeth Kumar, Mrudhukar Batchu, Kiran Naik, and Shobhit Jain, Bengaluru-based Vegrow has become one of India’s premier B2B fruits and vegetables marketplaces. Its technology-based platform brings together more than 20,000 farmers spread over 100+ cities and institutional buyers—like exporters, retailers, and wholesalers—on a seamless aggregation, quality grading, and demand-supply matching platform. With precision and transparency as its fundamentals, Vegrow empowers farmers and traders, enabling efficient fruit trade round the year.
Tackling Agricultural Challenges
India’s fruit supply chain is severely fragmented by several intermediaries, resulting in variable quality, price fluctuation, and excessive post-harvest wastage. Vegrow’s solution addresses these problems by incorporating AI-powered quality profiling, robotized grading, and maximized routing. This results in fair prices for farmers, consistent supply for buyers, and seasonally predictable demand cycles. The focus of the company on tech-backed transparency mitigates supply chain waste and carbon footprint.
Key Offerings
- Aggregated B2B Marketplace: Facilitates bulk transactions throughout fruit and vegetable segments through a strong farmer network.
- AI-Powered Quality Grading: Affirms consistent standards and trustworthy produce that boost buyer confidence.
- Demand–Supply Matchmaking: Utilizes predictive analytics for matching appropriate farmers with appropriate buyers at the appropriate time.
- End-to-End Logistics Support: Includes packing, cold storage, and distribution solutions in order to reduce spoilage.
- Carbon-Efficient Dispatch: Streamlines routes and volume planning, greatly minimizing carbon emissions through efficient operations.
Real Impact
Vegrow’s growth trajectory is striking: it processes over 200 tonnes of fruit daily, with a reported 15× annual revenue surge and a 20%+ gross margin post‑Series B. Its scaling efforts—spanning 100+ cities and partnerships with 20,000+ farmers—have led to a valuation near $280 M post‑Series C funding. Precision-driven operations also helped cut supply chain wastage to just one-fourth of the industry average.
Success Story
Vegrow aided a pomegranate and banana grower in Maharashtra by grading produce with AI tools, matching inventory with urban retailer demand, and offering route-optimized logistics. This achieved consistent full-price sales, a 25% income increase, and up to 30% reduction in wastage compared to mandi sales—exemplifying Vegrow’s value-driven model.
Lessons for Agri-Startups
- Construct value by digitalizing matchmaking to remove inefficiencies.
- Adopt data-enabled quality protocols to establish supply reliability.
- Employ predictive technology to synchronize farm production with city demand patterns.
- Build stronger end-to-end logistics to minimize waste and carbon footprints.
- Take advantage of capital scaling while maintaining unit economics and farmer ROI.
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