Agriculture Export Startup Produze Raises $2.6 Million In Fresh Funding
Produze, an agriculture exports startup, has raised $2.6 million in funding led by Accel Partners.
All In Capital and other angel investors from startups, including founders of Ninjacart and Citymall, also participated in the funding round.
Produze | Enabling Agri Producers To Sell Directly
Founded by Ben Mathew, Rakesh Sasidharan, Gaurav Agrawal, and Emil Soman, Produze enables agri producers to sell directly to international retailers and distributors, helping retailers with consistent quality, competitive price, and 100% availability.
This helps agri producers to get higher margin international distribution.
Speaking on the development, Ben Mathew, Co-founder of Produze, said,
“On behalf of the agri producers, we do the source logistics, quality verification, export operations, import operations and make this inventory at the destination for customers to procure.”
Backed by prominent firms like Accel and All In Capital, Produze currently operates in the UAE only but plans to expand to 18 countries.
The startup will serve multiple agri produce categories in multiple countries in North America, Europe and the Middle East, serving a $143B market. It is now inviting applications for participating retailers and agri producers.
Commenting on the development, Pratik Agarwal, Principal, Accel, said,
“At Accel, we’re excited to partner with the Produze team to help digitize the global agri-trade. We feel Produze technology and supply chain capabilities can help improve selection of fresh farm produce for customers at more affordable prices while compensating the producers fairly.”
As per Matthew, the current system has multiple intermediaries, making the quality and pricing inconsistent. Additionally, the entire process is manual, and price enquiry happens via Whatsapp, orders on email, and follow-up of inventory over email.
Produze is simplifying this and enabling seamless commerce between the agri producer and retailers by building this digital supply chain.