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F2C brand Deep Rooted raises $12.5 M Series A round from IvyCap & Accel
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Saturday, 24 September, 2022, 12 : 00 PM [IST]
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Our Bureau, Mumbai
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Deep Rooted, India's leading farm-to-consumer (F2C) brand for fruits and vegetables, has announced that it has raised US$12.5 million in Series A funding. The round was led by IvyCap Ventures with participation from existing investors including Accel, Omnivore and Mayfield.
The company provides urban consumers access to quality fruits and vegetables sourced directly from farmers and includes the largest network of greenhouses in India. Currently operating in Bengaluru, Hyderabad, and Chennai, it has become a one-stop shop for fresh produce, offering over 200 varieties of fruits and vegetables.
Through its greenhouse network, the company can deliver a year-round supply of fresh, flavourful, residue-free produce, using a fraction of the water and land compared to conventional farms. With health and wellness at the core of one’s living, consumers today are increasingly conscious of the choices they are making even in a category like F&V. By exclusively focusing on fresh produce, the brand has successfully made inroads into being the No. 1 choice for consumers for all of their fresh produce needs. Over the next 12 months, the startup plans to expand its operations to cover major cities in South India, strengthen its technology stack, and proactively hire across marketing, technology, and business functions.
Based in Bengaluru, the company was co-founded in 2020 by Avinash B R, Gururaj Rao, Arvind Murali, and Santhosh Narasipura. Avinash previously worked as a venture investor with Aavishkaar and earlier spent almost a decade at Bosch across engineering and corporate strategy roles. Rao previously worked in general management and analytics roles for Myntra, Callidus Cloud, and Info Edge. Arvind was earlier based in the Gulf in various sales management roles while Narasipura worked in his family’s manufacturing business.
Avinash B R, co-founder of Deep Rooted, said, “We are thrilled to partner with IvyCap as we expand across South India, working directly with farmers and delivering the freshest fruits and vegetables to urban consumers.”
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