In its Series A funding round, agritech startup Superplum has raised $15 million under the leadership of Erik Ragatz, a former partner and senior advisor at the private equity firm Hellman & Friedman.
Along with Mark Siegel, Dan Rose, Steve Jurvetson, Rick Kimball, Binny Bansal, and Kabir Misra, Ragatz is the newest member of Superplum’s investor group.
The Noida-based startup has raised nearly $22 million to date when it closed its pre-Series A round of $3.8 million in June 2021.
According to a press release from the company, Superplum will be able to use the money to expand its infrastructure and quicken its efforts to change the supply chains for produce in India.
Using patented technology and cold-chain infrastructure, Superplum, founded in 2019 by Shobhit Gupta, has developed a direct-from-farm produce supply chain, enhancing the cultivation and distribution of produce. By extending fruit shelf lives and improving fruit quality, the company lowers food waste and raises farmer incomes.
It presents itself as India’s first premium fruit brand, offering consumers better-tasting and healthier produce, including apples, mangoes, litchis, plums, cherries, and plums.
The business manages contemporary sourcing and supply chains for 25 fruits throughout the year and collaborates with farmers in 22 Indian states, including Bihar, Kashmir, and Karnataka.
Produce from Superplum is available for purchase on Amazon Fresh, Zepto, Swiggy, and Blinkit. Its premium fruits are also available at grocery stores in Bengaluru and NCR, as well as major retailers like Trent, Lulu, Modern Bazaar, Spar, Metro, and More.
As reported by the media, investments in agritech startups dropped dramatically from $773 million in 2022 and $635 million in 2021 to $182 million in 2023.
