Agri consumer brand Eggoz raises $8.8M led by IvyCap Ventures
Eggoz will use the fresh capital to expand its business, bring on additional talent, and grow its community.
, an egg-focused agri consumer tech brand, said it raised $8.8 million (Rs 66 crore) in a Series B funding round led by IvyCap Ventures. NABVENTURES, Avaana Capital, and Rebright Partners also participated in the round.
Angels, including Vishesh Khurana (Co-founder, ), Ankit Mehrotra, Sahil Jain, Nikhil Bakshi, Vivek Kapoor (Founders, ), Khalid Qazi (VP, ), and others, joined this funding round.
The startup will use the fresh capital to expand its business, bring on additional talent, and grow its community.
“With this funding, we plan to take Eggoz to more geographies and have a larger impact on the lives of both farmers and consumers,” said Abhishek Negi, Co-founder of Eggoz.
Sprout Capital worked as an investment banker for the transaction.
Founded in 2017 by IIT Kharagpur alumni Abhishek Negi, Aditya Singh, and Uttam Kumar, Bihar-based Eggoz claims to have built an asset-light farmer integration model that delivers nutrition and eggs to masses at scale. Its products are available in Delhi-NCR, Bengaluru, Kolkata, Chandigarh, Jaipur, Lucknow, and other non-metro cities.
In the last year alone, the startup claims to have grown by more than five times.
“Eggs being a major source of protein and a dietary staple for a huge section of India's 1.4 billion population, the market potential is tremendous. Eggoz, with its unique model, has the potential to capture this market and become the leader in this segment," said Vikram Gupta, Founder and Managing Partner, IvyCap Ventures Advisors Pvt Ltd.
Eggoz assures one-day delivery of fresh eggs to consumers via omnichannel, sourced directly from farmers who work under a fully integrated model. All its products are produced with herbal hens and monitored regularly through tech and veterinarian care.
Edited by Akanksha Sarma