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ProducePay raises $38M to tackle produce supply chain waste
Startup News FYI
·
1y ago
Medial
Los Angeles-based startup ProducePay has raised $38 million in a Series D funding round led by Syngenta Group Ventures. The company aims to tackle waste in the produce supply chain by providing transparency and flexibility to fresh produce growers and buyers. ProducePay offers financing solutions and supply chain monitoring tools to help farmers manage operating costs and optimize post-harvest liquidity. The funding will be used to support the company's expansion into Europe, Asia, Africa, and Australia. ProducePay has raised a total of $136 million to date and serves over 60 commodities across 20 countries.
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Related News
Agritech Startup Farmtheory Raises Seed Capital To Reduce Food Waste, Boost Farm Yields
Inc42
·
1y ago
Medial
Bengaluru-based agritech startup Farmtheory has raised $1.45 million in seed funding from Merak Ventures. The company plans to use the funds to scale up its operations, with a focus on expanding its supply arm, improving its technological infrastructure, and strengthening its supply chain. Farmtheory aims to reduce food waste by redirecting unsold produce, which it refers to as 'freeform', to new markets instead of letting it go to waste. The startup currently works with over 3,000 partner farmers and has served more than 1,500 kitchens. The Indian agritech sector is projected to be worth $24 billion by 2025.
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Ninjacart revolutionizes India's fresh produce supply chain
Inshorts
·
4m ago
Medial
Ninjacart streamlines India’s fresh produce supply chain by directly connecting farmers to retailers, cutting out middlemen and reducing waste. Using AI-driven logistics, it delivers fresh produce within 12 hours of harvest, ensuring fair pricing and better margins for farmers while providing fresher food and stable prices for retailers, benefiting the entire ecosystem.
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Walmart announces strategic pilots with India-based startups
Economic Times
·
6m ago
Medial
Walmart has initiated strategic pilots with Indian startups KBCols Sciences, GreenPod Labs, and Cropin to enhance its US supply chain and sourcing operations. These collaborations focus on innovation, enhancing product availability, reducing waste, and promoting sustainability. KBCols produces natural dyes, GreenPod extends produce freshness, and Cropin offers AI-driven crop insights. These pilots aim to improve Walmart's supply chain resilience and customer experience while supporting sustainable practices through Walmart Global Tech's Sparkubate program.
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B2B agri-food startup Farmtheory raises $1.45M in a funding round led by Merak Ventures
IndianStartupNews
·
1y ago
Medial
Farmtheory, a B2B agri-food startup, has secured $1.45 million in a funding round led by Merak Ventures. The funds will be used to expand its operations, improve its technology infrastructure, and strengthen its supply chain. Farmtheory focuses on reducing food waste by procuring "freeform" produce directly from farmers and supplying it to businesses. The startup claims to have partnered with 3,000 farmers and served over 1,500 kitchens, contributing to sustainability in the agri-food sector.
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Agritech startup Superplum raises $15 Mn in Series A round
Entrackr
·
1y ago
Medial
Agritech startup Superplum has raised $15 million in its Series A financing round led by Erik Ragatz, former partner and current senior advisor of private equity firm Hellman & Friedman. Ragatz joins a group of Superplum’s current investors including Mark Siegel, Dan Rose, Steve Jurvetson, Rick Kimball, Binny Bansal, and Kabir Misra. The Noida-based startup closed its pre-Series A round of $3.8 million in June 2021 and has raised close to $22 million to date. The funds will enable Superplum to continue to build out its infrastructure and accelerate its journey to transform produce supply chains in India, the company said in a press release. Started in 2019 by Shobhit Gupta, Superplum has built a direct-from-farm produce supply chain, using proprietary technology and cold-chain infrastructure to improve how produce is grown and brought to market. The company extends shelf lives and enhances fruit quality, reducing food waste and improving farmer incomes. It claims to be India’s first premium fruit brand that provides consumers with superior quality and healthier produce—across mangoes, litchis, apples, grapes, cherries, and plums, among others. The company works with farmers across 22 states in India including Bihar, Kashmir and Karnataka and runs modern sourcing and supply chains for 25 fruits across the year. Superplum sells its produce through Amazon Fresh, Zepto, Swiggy, and Blinkit. Its premium fruits are also available at major retailers such as Spar, Metro, Lulu, Modern Bazaar, More, and Trent as well as grocery stores in NCR and Bengaluru. According to startup data intelligence platform TheKredible, agritech startups saw a sharp fall in investment to $182 million in 2023 from $773 million in 2022 and $635 million in 2021.
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Greyparrot Raises $12.8M in Funding
Finsmes
·
1y ago
Medial
London-based AI waste analytics startup, Greyparrot, has secured $12.8 million in funding from Bollegraaf. The investment will be used to enhance collaboration within the waste value chain, bringing together producers, waste managers, and regulators to achieve more sustainable waste recovery and reuse. Greyparrot offers AI waste analytics solutions that automate sorting facilities and increase transparency throughout the global value chain. Its Analyzer technology has analyzed over 25 billion waste objects in real-time, providing data on material type, financial value, brand, and GHG emissions.
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How Logistics Can Be The Job Of A One-Man Army
Inc42
·
1y ago
Medial
According to a report by WorldMetrics, 30% of supply chain disruptions are caused by human error. To tackle this issue, tech-driven logistics solutions, especially those powered by artificial intelligence (AI), offer a way to overcome obstacles in the supply chain. AI tools can significantly reduce NDRs (non-delivery reports) and RTOs (return to origin) by over 50%, ultimately improving profitability for businesses utilizing technology in their operations.
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Agritech startup Cropin partners with Walmart to optimise supply chains with AI
Economic Times
·
4m ago
Medial
Agriculture-tech startup Cropin has partnered with Walmart to enhance the retail giant's supply chain in the US and South America using AI technology. Cropin's platform aims to optimize yield forecasting, monitor crop health, and predict seasonal changes to improve product availability and reduce waste. This initiative addresses climate-related supply chain disruptions by offering real-time, predictive intelligence across crop value chains. The partnership seeks to bolster resilience and sustainability, enhancing procurement planning and inventory management.
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Fundalogical Ventures launches first edition Of FV Trailblazers
Entrackr
·
7m ago
Medial
Fundalogical Ventures launches first edition Of FV Trailblazers Fundalogical Ventures (FV), an investment platform focused on sustainable supply chains, logistics, and peripheral sectors in India, has launched the first edition of FV Trailblazers, an early growth program designed to propel promising companies to industry leadership. The program offers selected companies access to up to $5 million in growth capital, invaluable 1:1 mentorship, strategic guidance, and extensive networking opportunities. FV Trailblazers focuses on a wide array of sectors critical to India’s growth story and the country’s evolving supply chain and logistics landscape. These include optimizing sourcing/procurement and inventory management, manufacturing innovation, warehousing services, automation and robotics, 3PL/4PL services, e-commerce enablers, and reverse supply chain management. According to Fundalogical Ventures, the fund has a keen focus on sustainability, including the growing importance of green logistics, encompassing the entire EV ecosystem, and promoting a circular economy through efficient waste management practices, including plastic waste, e-waste, and battery waste recycling. FV says that this program is designed to provide not only capital but also the strategic guidance and network access necessary to navigate the complexities that fast-evolving businesses demand. It combines its deep domain expertise with the innovative spirit of these companies and drives significant advancements in India’s supply chain ecosystem. The fund is anchored by industry leaders such as Krishna Kotak, Tushar Jani, Suryakant Parekh, Khalid Vohra, and Mehernosh Currawalla, while the management is led by Ratna Mehta.
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Wheelocity Raises $15 Mn To Expand Into FMCG Space
Inc42
·
9m ago
Medial
A startup has raised funding to expand its business beyond fresh produce and groceries. The company plans to venture into non-food FMCG items, staples, household essentials, and other discretionary products. Additionally, they intend to improve their technology to offer more efficient and accessible services for their customers. Founded in April 2022, the startup solves supply chain issues for fresh commerce in India and operates on a phygital model to cater to semi-urban and rural consumers.
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