GreenPod Labs, an agri-biotech startup, has raised Rs 4.05 crore or $537K in its pre-seed round led by Indian Angel Network with Rockstart as a co-investor.
The Chennai-based startup aims to utilize the freshly infused investment to strengthen its R&D foundation and commercially scale product portfolio. The funding will also be directed towards expanding the R&D and operations team, it said in a press release.
Founded in 2019 by Deepak Rajmohan and Vijay Anand, GreenPod Labs intends to minimize fresh produce loss by introducing cost-effective packaging solutions. The startup has developed biotech-based packaging sachets that extend the shelf-life of fruits and vegetables by eliminating the need for cold storage and cold supply chains.
The firm targets farmers, distributors, retailers, and eCommerce platforms with crop-specific solutions that increase their shelf life at ambient temperatures.
Providing customizable biotech packaging sachets, GreenPod Labs is looking forward to launching products for three crops. The platform is also working on developing four more products this year.