Indian Ag-Tech Superplum Secures Whopping US$15m in Series A Funding

• Indian ag-tech start-up Superplum secures US$15m in Series A funding, led by new chairman Erik Ragatz
• Superplum aims to revolutionize produce supply chains in India, offering premium produce like mangoes
• The company utilizes proprietary technology and cold-chain infrastructure to improve the quality and shelf-life of fruit
• Superplum’s traceability system connects consumers with farmers, reducing food waste and improving farmer incomes
• The start-up works with farmers across 22 states in India, focusing on providing high-quality domestic produce to consumers

Indian Ag-Tech Superplum Receives US$15m in Series A Funding

Indian ag-tech start-up Superplum has recently secured a significant milestone by completing its US$15m Series A financing round. This injection of funds marks a pivotal moment for the company, allowing it to further expand its infrastructure and advance its mission of revolutionizing the produce supply chains in India.

Transforming Produce Supply Chains in India

Superplum, known for offering premium produce such as mangoes, has attracted attention from investors and industry experts alike. The Series A funding was spearheaded by Erik Ragatz, the incoming chairman of the company, who brings a wealth of experience from his tenure at the global private equity firm Hellman & Friedman. Ragatz expressed his confidence in Superplum’s disruptive potential within the Indian produce markets, emphasizing the positive impact it can have on various stakeholders.

The roster of investors backing Superplum includes prominent names like Mark Siegel, Dan Rose, Steve Jurvetson, Rick Kimball, Binny Bansal, and Kabir Misra. This diverse group of supporters underscores the widespread belief in Superplum’s vision and operational capabilities. Ragatz highlighted the transformative nature of Superplum’s business model, noting its ability to uplift farmers through better pay and terms, reduce food waste in the supply chain, and provide healthier options for consumers.

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Revolutionizing Agricultural Practices

Superplum has distinguished itself by developing a direct-from-farm produce supply chain that leverages proprietary technology and cold-chain infrastructure. This innovative approach enhances the efficiency of how produce is cultivated and delivered to the market in India. The company’s product range includes a variety of premium fruits such as lychees, apples, grapes, cherries, and plums, with a commitment to expanding its offerings in the future.

In a notable move towards transparency and consumer empowerment, Superplum introduced a traceability system in 2023. This system enables consumers to trace the origin of their produce, view pesticide reports for each batch, and follow the fruit’s journey from the farm to their table. By fostering this direct connection between consumers and farmers, Superplum aims to instill trust and accountability in the supply chain while promoting sustainable agricultural practices.

Empowering Farmers and Consumers Alike

Shobhit Gupta, the cofounder and chief executive of Superplum, emphasized the company’s dedication to addressing longstanding structural challenges in Indian agriculture. Despite advancements in various sectors, Gupta noted that fresh produce has remained underinvested in terms of technology and modernization. By reimagining the entire supply chain and integrating cutting-edge cold chain technology, Superplum has succeeded in extending the shelf life and enhancing the quality of fruits, thereby benefitting both farmers and consumers.

Superplum’s reach extends across 22 states in India, where it collaborates with farmers to implement modern sourcing and supply chains for 25 different fruits throughout the year. Gupta highlighted the positive reception from consumers towards the superior quality and safety of Superplum’s produce, particularly for traditionally challenging fruits like mangoes, lychees, cherries, and guavas. The company’s commitment to delivering high-quality domestic produce reflects its mission to bridge the gap between farmers and consumers while promoting a sustainable and efficient agricultural ecosystem.

Superplum’s successful Series A funding marks a significant step towards realizing its vision of transforming the landscape of Indian agriculture. With a focus on technological innovation, sustainable practices, and stakeholder empowerment, Superplum is poised to continue making a positive impact on farmers, consumers, and the overall produce supply chain in India.