Nutrifresh Raises $5 Million In Pre-Series Seed Funding The fund raised will be used to scale up farm operations, implement complete traceability and transparency of produce, marketing and creation of an integrated farm-tech platform
By Teena Jose
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Nutrifresh, an agri-tech startup focusing on hydroponically-grown, fresh, clean, green, residue-free, and chemical-free produce, has raised $5 million as pre-Series Seed funding, led by Theodore Cleary (Archer Investments), Sandiip Bhammer (managing partner, Green Frontier Capital), Sky Kurtz (CEO and co-founder, Pure Harvest AE), Mathew Cyriac (Florintree Advisors and ex-MD of Blackstone India), Dr Soumitra Dutta (Dean Elect - Saïd Business School, University of Oxford), Shaishav Dharia (regional CEO, Lodha Group), Karan Goshar (Samarthya Investment Advisors LLP) among others. The fund raised will be used to scale up farm operations, implement complete traceability and transparency of produce, marketing and creation of an integrated farm-tech platform.
"Team Nutrifresh is extremely committed to bringing focused hydroponic farming which is robust, tech-enabled; IOT based and gives consistent production. With the current round of funding, Nutrifresh aims to enhance the production capacities and bring in standardization in the production process thus, scaling the farms with requisite SOPs to gain a higher competitive edge. Nutrifresh wants to establish itself as a household brand," said Sanket Mehta, co-founder, Nutrifresh Farm Tech Farms Pvt Ltd.
The Nutrifresh's produce reaches the consumer within 24 hours of harvest which is a testament to the supply chain being fully integrated and in line to maintain consistency of freshness. Boasting of over 42 SKUs, Nutrifresh is supplying its products to over 100 B2B aggregators in the Indian market and to modern trade aggregators and delivery partners, claimed by the company in a statement.
"Agritech and food-tech are both big focus areas for our climate mitigation-focused venture fund and we are constantly looking to explore and invest in innovative businesses run by dynamic entrepreneurs with compelling business models. With the guidance of its world-class board of advisors and knowledge experts, Nutrifresh has the potential to become a high-performance sustainable business as it continues to execute on its vision of accelerating India's transition to a circular-resource economy," said Sandiip Bhammer, managing partner of Green Frontier Capital.
Co-founded by Sanket Mehta and Ganesh Nikam, Nutrifreshs' vision is to provide consistent pesticide-free hydroponic produce that is nutrienrich providing-rich to the Indian consumer year-round.
