Incofin Investment Management is an international impact investment firm with an AUM of USD 1.2 billion.
One of India’s leading staples Agri-Tech commerce platform SuperZop has raised USD 4 million Series A funding from Incofin’s India Progress Fund. Thanks to the platform, thousands of small retailers and restaurants can buy staples directly from farmers and food processors, leading to a more efficient agri-food value chain.
SuperZop, founded by Raghuveer Allada, Prithwi Singh and Darshan Krishnamurthy, 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.
Incofin Investment Management is an international impact investment firm with an AUM of USD 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. Our farm-tech staples brands have also been extremely well received as 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.
“We are excited to partner with the team at Incofin, who bring a lot of depth and expertise in Food & Agri. We have built the business in an extremely capital efficient manner from our existing backers SIDBI Venture Capital Ltd, CIIE.CO and Angels and 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.
“We have developed right tools like an AI based quality assessment platform and logistics optimization engine that works for the B2B staples category. 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.
“We are delighted to partner with the high-performance founders of SuperZop who are making an impact by bringing MSME food processors and Kirana stores more closely integrated, thereby delivering value to both farmers and retail consumers. Incofin looks forward to supporting them as they execute on this unique Agri-Tech opportunity”, said Rahul Rai, Partner, Incofin India.
Source: Business World
