Chennai-based agritech startup Veg Route has raised seed funding of $1.1 million led by U.S.-based VGROW Ventures. The round also saw participation from Mohan K. and Jai Kumar, founders of Chennai-based fintech startup Ippopay; Hari TN, co-founder, Artha School of Entrepreneurship; Abhishek Raj Pandey, head of commercial operations, Mama Earth and other angel investors from India, UAE and the U.S.
The startup intends to use the funds raised to enhance its tech and data-driven solutions. The firm is also planning to establish warehouses, collection centres in small town and villages and invest in e-vehicles for last mile delivery operations. Veg Route has earlier raised $180 K in the pre-seed round.
The CEO of Veg Route Shyam Prashad Rajasekaran said that the startup would expand its operations and connect with over 50,000 farmers and cater to over 2.5 lakh consumers per day across 100 cities by 2025.
Founded in July 2020 by Anand Alagarsamy and Shyam Prashad Rajasekaran, Veg Route is a B2C fresh produce agritech supply chain platform. The startup claims that it aims to connect farmers directly to the end consumer and in the process eliminate middlemen and also ensure better pricing.
