Agritech Startup Superplum Secures 15M Dollars in Series A Funding

Superplum Agritech

Three points you will get to know in this article:

  • Superplum got $15M Series A funding led by investor Erik Ragatz, boosting growth.
  • Company revolutionizes Indian produce supply chains with advanced tech and cold-chain infrastructure
  • Superplum collaborates with farmers in 22 states to offer top-quality fruits online and in stores.

Introduction to Superplum

Superplum is a brand under Freshcore Provisions India Pvt. Ltd., dedicated to providing pesticide-tested fruits to the market. Their focus is on offering a wide range of the freshest Indian fruits, including mangoes, grapes, pomegranates, and apples. Superplum emphasizes farmer-friendly practices by supporting farmers with improved infrastructure, higher incomes (up to 30% higher than local market prices), and reduced wastage (up to 50% less produce wastage). Additionally, the company fosters trust with customers by promoting transparency and direct connections with farmers, offering features like fruit rating, food safety information through QR codes on packs, and enabling consumers to reward farmers.


Funding and Investors

Superplum, a pioneering agritech startup, has recently secured a significant investment of $15 million during its Series A funding phase. The driving force behind this funding is Erik Ragatz, previously a partner at Hellman & Friedman and now serving as a senior advisor. Ragatz’s expertise adds to the impressive roster of investors already backing Superplum, including notable names like Mark Siegel, Dan Rose, Steve Jurvetson, Rick Kimball, Binny Bansal, and Kabir Misra.

Based in Noida, Superplum initially garnered $3.8 million in its pre-Series A round back in June 2021. With this recent infusion, the startup has amassed nearly $22 million in total funding, marking a significant milestone in its growth journey.

According to a press release from the company, Superplum is excited to announce that the recent funding will support its mission to revolutionize produce supply chains in India. Since its inception in 2019 by Shobhit Gupta, Superplum has been dedicated to creating a more efficient and sustainable way of bringing farm-fresh produce to consumers. Through the use of cutting-edge technology and specialized cold-chain infrastructure, Superplum extends the lifespan of fruits, enhances their quality, and ultimately reduces food waste. This not only benefits consumers by providing them with fresher produce but also uplifts farmers by improving their income opportunities.

Product Offerings and Collaborations

They say they’re India’s pioneer in top-notch fruit brands, offering folks top-quality and healthier options, from mangoes to cherries and plums, among other varieties. The company collaborates with farmers from 22 states across India, like Bihar, Kashmir, and Karnataka, managing modern channels for sourcing and delivering 25 different fruits all year round.

Market Trends in Agritech Investments

Superplum markets its fresh fruits through popular online platforms like Amazon Fresh, Zepto, Swiggy, and Blinkit. You can also find its top-quality fruits at leading retail chains such as Spar, Metro, Lulu, Modern Bazaar, More, and Trent, as well as local grocery stores in NCR and Bengaluru. In 2023, investment in agritech startups took a notable dip, falling to $182 million from $773 million in 2022 and $635 million in 2021.

Superplum, a leading agritech startup, has achieved significant milestones with a recent $15 million Series A investment, bolstered by investor expertise from individuals like Erik Ragatz. The company’s mission to transform produce supply chains in India is supported by its dedication to leveraging advanced technology and cold-chain infrastructure to extend the lifespan and enhance the quality of fruits. Collaborating with farmers across 22 states, Superplum offers a diverse range of top-quality fruits through various online platforms and retail chains. Despite a notable dip in agritech investments in 2023, Superplum’s growth trajectory remains impressive.

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