Poshn, an agri-trading platform, on Wednesday said it has raised Rs 28.8 crore from investors including Prime Venture Partners for expansion and future growth. Poshn is a platform for wholesale processed commodity distribution and financing.
It enables buyers and sellers of agricultural commodities to trade online. It makes wholesale trading seamless by offering full stack services for the wholesale trading of commodities. The company said in a statement that it has “raised Rs 28.8 crore in seed funding, led by Prime Venture Partners and participation from Zephyr Peacock”. The startup will use the fresh capital to aggressively grow and hire across tech and business functions.
Poshn provides a seamless and efficient procurement platform especially for bulk processed commodities in agri supply chain market. The startup has partnered with over 100 wholesalers across e-commerce, modern trade and general trade. Shashank Singh, co-founder, Poshn, said: “The initial customer traction we have achieved in a short time reinforces our belief in the agritech space and we are on a mission to make wholesale trade efficient, effective and seamless.”
“We see a huge opportunity in the processed agri space as well as the wholesale procurement sector as it has hardly seen any innovation in the past,” he added. Bhuvnesh Gupta, co-founder, Poshn, said the company solves some of the key issues plaguing the processors, millers, repackagers in the agri sector.
“We resolve two of the greatest pain points for wholesale buyers and sellers; working capital and distribution. With payment-on-deliveries and best-in-class verified buyers, Poshn is delivering hassle free business growth to our sellers and on a journey to be the most liquid commodity exchange.”