Agritech commerce platform SuperZop has raised $4 million in its Series A funding from Incofin’s India Progress Fund, an India-focused fund of Incofin Investment Management (IM).
Raghuveer Allada, cofounder at SuperZop, said in a press release that the company has built the business in an extremely capital-efficient manner from its existing backers SIDBI Venture Capital Ltd, CIIE.CO and Angels.
“This investment will help the firm to scale the business amongst existing and new geographies that include Tier-1 cities, invest in technology and further expand their product offering,” he said.
“We have developed the 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, cofounder at SuperZop.
Founded by Raghuveer Allada, Prithwi Singh and Darshan Krishnamurthy, SuperZop 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 $1.2 billion. The firm promotes financial inclusion for rural entrepreneurs and aspires synergies across the agri-food value chain.
Rahul Rai, Partner, Incofin India, said the company is 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.