Fresh From Farm Raises Over INR 3.2 Crore In Seed Funding Round
The fund raised will assist the company in team building, inventory management, capital expenditure, research and development and branding
Food-agri business startup Fresh From Farm has raised over INR 3.2 crore in Seed funding round led by Inflection Point Ventures. Fresh From Farm is a demand-and data-based aggregation ecosystem that recognizes retailer demand trends and buys the precise amount from farmers. The fund raised will assist the company in team building, inventory management, capital expenditure, research and development and branding.
"Our AI based system currently has a confidence rate of 89 per cent allowing us to predict the exact quantities and qualities of fruits that can be sold at particular touchpoints. This has enabled us to reduce the wastage to 2 to 3 per cent while the industry standard is 20-22 per cent. We aim to achieve a 95 per cent accuracy rate over the next 18 months," said Rohit Nagdewani, founder and CEO, Fresh Form Farm.
Fresh From Farm has access to over 1000 sales touchpoints for 30 times growth in the next 12 to 15 months. The company can save up to $14 to $16 billion fruits and vegetables annually. Delhi/NCR alone consumed INR 22,000 crore worth of fruits and vegetables in 2021. Through its curation process, it helps buyers procure fresh and quality fruits, delivered to their doorstep, and increases income by 13 per cent. Fresh from Farm made INR 78 lakh in FY22 and is working to improve its fruits and vegetables trade margin, claimed by the company in a statement.
"We liked Fresh From Farm's approach of leveraging tech to solve the challenges that directly impacts the three key stakeholders of the fruit and vegetables ecosystem. Their tech and the platform with predictive qualities prompted us to invest in the Company," said Vinay Bansal, founder and CEO, Inflection Point Ventures.
Founded in 2018 by Rohit Nagdewani, Fresh From Farm sells its products under its private label "Happy Froot" and aims to alter the dynamics of fruit and vegetable production through a targeted, data-driven predictive analysis, resulting in less food waste and better nutrition for all.