Agritech commerce platform SuperZop has raised $4 million Series A funding from Incofin’s India Progress Fund.
Founded by Raghuveer Allada, Prithwi Singh and Darshan Krishnamurthy, the platform has developed the largest staples agri-commerce platform for B2B customers with seamless digital buying experience. The company enables 20k+ retailers, in Mumbai & Pune, to directly source staples from farmers, multiple FPOs and processors from 13 states across India, it said in a press release.
Incofin Investment Management is an international impact investment firm with an AUM of $1.2 billion. The firm promotes financial inclusion for rural entrepreneurs and aspires synergies across the agri-food value chain.
“SuperZop is using a vertically driven product approach to build farm-tech brands with greater sourcing linkages using tech and process innovation. There is a huge whitespace in branded staples, even in large consumption categories such as rice, wheat, pulses, dry fruits,” said Prithwi Singh, Co-Founder of SuperZop.
“This investment from Incofin will help us scale the business amongst existing and new geographies that includes Tier-1 cities, invest in technology and further expand their product offering,” said Raghuveer Allada, Co-Founder of SuperZop.
“One of the key areas of fund deployment will be to build on data science and enhance systems for greater scale”, said Darshan Krishnamurthy, Co-founder of SuperZop.
“SuperZop is making an impact by bringing MSME food processors and kirana stores more closely integrated," said Rahul Rai, Partner, Incofin India.