[Funding alert] Agri-commerce startup SuperZop raises $4M in Series A round
Agri-commerce startupraised $4 million in a Series A round from Incofin’s India Progress Fund.
The startup will use the proceeds to scale up in existing and new geographies, including Tier-I cities, strengthen its technology and expand its product offering.
Founded in 2016 by Raghuveer Allada, Prithwi Singh, and Darshan Krishnamurthy, SuperZop offers an agri-commerce platform for B2B customers such as small retailers and restaurants, enabling them to buy staples directly from farmers and food processors.
Speaking about the development, Raghuveer Allada, Co-founder of SuperZop, said, “We are excited to partner with the team at Incofin, who brings a lot of depth and expertise in food and agriculture. We have built the business in an extremely capital-efficient manner from our existing backers SIDBI Venture Capital Ltd, CIIE.CO, and Angels.”
Darshan revealed that a part of the fund will also be deployed to build on data science and enhance systems for a greater scale.
At present, the startup has claimed to help over 20,000 retailers in Mumbai and Pune to directly source staples from farmers, multiple FPOs, and processors from 13 states across India.
SuperZop, which was first founded in Ahmedabad and later shifted its base to Navi Mumbai, leverages deep technology to organise the fragmented and “opaque” B2B2C food supply chain — starting from procuring to storage and packaging to delivery of over 300 SKUs.
“SuperZop uses 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 huge whitespace in branded staples, even in large consumption categories such as rice, wheat, pulses, and dry fruits,” said Prithwi Singh, Co-founder, SuperZop.
Rahul Rai, Partner, Incofin India, said the startup is delivering value to both farmers and retail consumers.
“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 agritech opportunity,” he added.