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Fresh From Farm raises over 3.2 crore in Seed Round led by Inflection Point Ventures
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Saturday, 26 November, 2022, 08 : 00 AM [IST]
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Our Bureau, New Delhi
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Food-Agri Business start-up Fresh From Farm has raised over 3.2 crore in Seed Round led by Inflection Point Ventures. Fresh From Farm is a demand-and data-based aggregation ecosystem that recognises retailer demand trends and buys the precise amount from farmers.
Growing and acquiring fresh produce, Fresh From Farm distributes it through an omnichannel online and physical presence while establishing a clear brand strategy. The funds raised will assist the company in team building, inventory management, capital expenditure, Research and Development and branding.
Rohit Nagdewani, founder, Fresh From Farm is an urban farmer and home cook and launched his hydroponic farming enterprise in 2018. The company 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. To reduce waste at the retailer level, the company assesses demand and supply patterns and works towards matching them.
Vinay Bansal, founder and CEO, Inflection Point Ventures, said, “The customers are increasingly getting aware about what they eat, where is it sourced from and its nutritional value. The farmers and retailers on the other hand deal with the supply chain challenges resulting in million of tonnes perishables getting wasted every year. 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.”
The total combined size of fruits and vegetable market over the next 15 years is $500 billion. Fresh From Farm has access to 1000+ Sales Touchpoints for 30x growth in the next 12-15 months. The company can save up to 14-16 USD billion Fruits & Vegetables annually. Delhi/NCR alone consumed Rs. 22,000 Cr worth of fruits & vegetables in 2021. The business can provide fresh food to the entire Delhi/NCR region in just two hours as they have built a 6000 sqft collecting and distribution hub in the heart of South Delhi, that helps them service the NCR in the most efficient way.
Rohit Nagdewani, founder & CEO, Fresh Form Farm, said, “Our AI based system currently has a confidence rate of 89% 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 2-3% while the industry standard is 20-22%. We aim to achieve a 95% accuracy rate over the next 18 months.”
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