FreshR Raises $1.2 Million In A Funding Round Led By Axilor Ventures And 1Crowd
Funds will be utilized to grow and expand its geographical footprint, develop and implement its tech stack, as well as grow its team
FreshR on Thursday announced to have raised $1.2 million in a funding round led by Axilor Ventures and 1crowd. Funds will be utilized to grow and expand its geographical footprint, develop and implement its tech stack, as well as grow its team.
"The Indian meat industry, of which General Trade and HORECA make up the largest segments, suffers from fragmented demand, high perishability, and under-invested, opaque supply chains. This leads to poor product quality and massive wastage. Our vision is to organize the domestic market by using technology to cater to this fragmented demand and investing in world class infrastructure to manage pan-India sourcing and distribution," said Ambika Satapathy, co-founder, FreshR.
"Ambika and Sadanand are quintessential entrepreneurs who have built a strong business that targets the meat and fisheries supply chain industry bringing high quality standards, transparency and financial access to the various stakeholders in the value chain. Their tech lead model helps integrate a highly fragmented industry bringing in significant efficiencies in creating time and place utility to highly perishable products," said Natasha Kothari, partner, 1Crowd.
Founded by Ambika Satapathy and Sadananda Satapathy, FreshR uses a combination of operational efficiency and technology integration to aggregate an extremely fragmented national demand base and ensure quality, variety and secure high-value transactions for its customers. Since its inception, FreshR has farmed, traded, processed and distributed highly perishable meat products in some of the most remote geographies in Odisha, Andhra Pradesh and Chhattisgarh. The company also launched an application earlier this year which is a one of a kind resource used to standardise prices and grades for the sector and allows bulk buyers from across India to place orders and track quality processes. FreshR had earlier raised a pre-seed round from Villgro, Upaya Social Ventures, Beyond Capital Fund, and other early stage funders.