Lightspeed and Elevation lead $13 Mn Series A round in Vegrow

Fresh farm produce supply chain startup Vegrow has raised $13 million in its Series A round led by Lightspeed Venture Partners and Elevation Capital. Matrix Partners India, Ankur Capital, Better Capital and Titan Capital have also participated.

Entrackr had exclusively reported about the upcoming funding in Vegrow on May 18.

According to the company, the funds will be used to expand its presence from 30 to 100 cities, ramp up technology and launch new products. Founded by Praneeth Kumar, Shobhit Jain, Mrudhukar Batchu and Kiran Naik, the startup smoothens the supply chain for fruits and vegetables.

Its technology platform provides farm discovery, quality profiling, market intelligence to businesses whereas farmers get advisory, packaging and logistics support from VeGrow. The company majorly operates in Karnataka and competes with Dailyninja, Waycool and Zomato’s HyperPure.

Previously, Vegrow had raised $2.5 million in its seed round led by Matrix and participated by several angels including Sanjiv Rangrass, Rohit MA, Ramakant Sharma and Amit Lakhotia as its angel investors.