B2B Food Processing Startup Suite42 Raises $4.3 Million In Fresh Funding
B2B food processing platform Suite42 has raised $4.3 million in a seed funding round co-led by Omnivore and Orios Venture Partners.
The funding round also saw participation from Titan Capital, All In Capital, Pointone Capital, and angel investors, including Sujeet Kumar (Udaan).
As per the startup, the raised funds will be used for talent acquisition, developing the ‘Suite42 Standard’ in the food processing ecosystem, launching raw material financing, and piloting cross-border trade (exports).
Suite42 | On-demand Manufacturing Platform
Founded by Rahul Ratan, Chethan S, Shriram S, and Ramakrishna Cheruku in 2022, Suite42 is a Bengaluru-based startup that provides individuals/brands/enterprises access to best-in-class manufacturing capabilities. It helps them build and operate digital manufacturing supply chains.
Speaking about the development, Rahul Ratan, Co-founder and CEO of Suite42, said,
“Our mission is to empower food manufacturers in India by leveraging technology and building efficient and standardised processes. Consequently, brands and consumers will have access to premium products and ingredients at affordable prices.”
The startup provides contract manufacturing solutions, including identification of manufacturing partners, fair price discovery, reducing the cost of food processing, product development, quality standardisation, and optimising logistics for food processing to B2B clients across the FMCG, agribusiness, and grocery industries.
It serves customers across the lifecycle from Proof-of-Concept (Starter) to Mid-Tier (Growth) to Enterprise starting new divisions (Enterprise).
In the next 18 months, Suite42 aims to work with various B2B clients. These include ecommerce, D2Cs, FMCG brands, and 2,000 modern trade outlets across multiple cities.
Commenting on the development, Jinesh Shah, Managing Partner of Omnivore,
“The sector is highly unorganised with deep inefficiencies. Less than 5% of India’s agricultural output is processed, preventing the realisation of profits across the value chains. We are excited to see Suite42 revitalise the food processing space in India.”
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