08th May 2024 – Noida-based fruit supply startup Superplum has secured a Series A funding of $15 million , led by Erik Ragatz, former partner of private equity firm Hellman & Friedman. Ragatz, now a senior advisor at the PE firm, will also become the company’s chairman soon.
Founded in 2019 by Shobhit Gupta, Superplum connects fruit farmers and orchards to marketplaces through its B2B2C platform. It plans to utilize the funds to enhance its supply chain and infrastructure.
Superplum, which previously raised $7 million in seed funding, boasts a network of 1.2 lakh farmers supplying fruits to retailers and delivery platforms throughout the year.
In FY23, the startup recorded a revenue of INR 11 crore, up from INR 7 crore in FY22. Despite a slight increase in losses from INR 17 crore to INR 18 crore, Superplum remains focused on expanding its reach.
Specializing in 14 fruits including mangoes, apples, and grapes, Superplum aims to empower farmers by branding their produce and leveraging technology to bridge the gap between markets and farmers.
With its tech platform promoting traceability and transparency regarding pesticide use, Superplum competes with other startups like Ninjacart, Hyperpure, and Freshokartz in the fruit supply domain.
Conclusion
Superplum’s successful Series A funding of $15 million, led by Erik Ragatz, signifies a pivotal moment for the Noida-based startup. With plans to fortify its supply chain and infrastructure, Superplum’s commitment to empowering farmers and fostering transparency positions it well for continued growth and competition in the fruit supply sector.
Source:Link
