Equanimity Ventures a Mumbai based VC fund investing in capital efficient, technology enabled, early stage companies led the maiden investment round in FreshVnF, a fresh Fruits & Vegetable technology platform optimizing the supply chain for Hotels, Restaurants, Cafes & retail consumers. This investment round saw participation from GVFL and Mr. Manish Choksi (Non- Executive Vice Chairman and part of the promoter group of Asian Paints Limited) through his family office according to a statement.
Founded in 2018, FreshVnF was started by Atul Kumar, Vikas Dosala, Sumit Rai, and Aashish Krishnatre, graduates from IITs & IIMs. It is currently operating in Mumbai. FreshVnF is a ML driven technology platform creating market linkages for farmers by streamlining the supply chain from farm to fork bringing efficiency and transparency to the entire value chain, thereby helping hotels, restaurants & cafes order & procure fresh produce online with a data-driven inventory & replenishment platform.
Commenting on the investment, Rajesh Sehgal, Managing Partner at Equanimity Ventures said, “Supplying fresh fruits and vegetables from farm to fork has been a challenge for years. FreshVnF is changing this by leveraging new age technology, current mobile penetration and availability of cheap data to build an efficient supply chain helping reduce wastage and simultaneously ensuring fresh produce reaches your plate. Equanimity is enthused to support Atul and the FreshVnF team in their quest to enhance their customers and the average farmer’s lives.”
Atul Kumar, Co-Founder at FreshVnF said, “We are thrilled to welcome Equanimity and GVFL. Their experience at nurturing and scaling start-ups, will help us achieve our goal of transforming the food supply chain and reinforces the market opportunity, the founding team’s vision, and our capability to address this market at scale. These funds will help us grow our farm network for consistent supplies, build our technology platform for seamless supply chain operations at scale, and help us achieve our goal of providing fresh farm produce to end customer within 16 hours of harvesting. FreshVnF will work aggressively to increase its retail footprint and service over one lakh retail customers in western India”
Source: BW Disrupt