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 .