Connect with us

The Plunge Daily

MangoPoint raises Rs 1.82 crore from investors

MangoPoint raises Rs 1.82 crore from investors


MangoPoint raises Rs 1.82 crore from investors

MangoPoint, engaged in preserving and promoting high-quality mangoes and mango products, has raised Rs 1.82 crore from investors led by The Chennai Angels, the company said on Tuesday.

MangoPoint was founded by Manjula Gandhi Rooban and Prasanna Venkatarathnam in 2018 with the vision of taking India’s national fruit to the world stage. It sells over 20 mango varieties and has delivered more than five lakh mangoes to over 20,000 customers. The Chennai Angels, a prominent angel investment group, announced their investment in MangoPoint. The Chennai Angels has associated with Native Angel Network and Keiretsu Chennai for their first round of investment in Mangopoint.

Also read: Mercedes introduces EV module in mechatronics course; first rollout in Pune’s college

“The total fundraise stands at Rs 1.82 crore, with The Chennai Angels leading the round”, a company statement said here. “We, the promoters, of MangoPoint are delighted by the confidence reposed on us by The Chennai Angels, Native Angel Network and Keiretsu Forum. The mentorship, support, network and visibility that these networks and individual investors bring to us is as important as their investment,” Rooban said.

The funds raised would be utilised for adopting latest technologies for pre and post-harvest management through early detection, action and in picking the best fresh mangoes and for expanding presence in India and key global markets, Rooban said.

“Their (MangoPoint) mission is to market naturally ripened mangoes without the calcium carbide chemical that is used for ripening. We, at The Chennai Angels, believe in their vision and are thrilled to participate in this round of funding”, The Chennai Angels, Lead Investor, Balakrishnan Ranganathan said. We are extremely happy to bring onboard MangoPoint as a portfolio company and are eager to see them scale higher in the years ahead, Ranganathan added.

1 Comment

1 Comment

  1. Pingback: RBI begins three-day monetary policy meet to decide on key rates

Leave a Reply

Your email address will not be published.

To Top