Agritech startup Eggoz receives fresh funding $1.5 Mn from Avaana Capital and Rebright Partners

New Delhi: Avaana Capital and Rebright Partners have infused $1.5M in Nupa Technologies, owner of India’s fastest growing egg brand – Eggoz.

Eggoz is building India’s first nationwide farm to consumer brand for eggs and allied products. The company aims to address India’s quality protein deficiency by offering a range of fresh, antibiotic-free, and high-nutrition products catering to different consumer segments. The company is building a unique & scalable farmer integration model and fast supply chain to provide fresh eggs to consumers.

Eggoz source eggs directly from farmers through a deep integration model. Eggoz provides technology backed support to egg farmers for boosting quality and productivity, enabling the company to build and maintain a supply of consistently high quality produce. Farmers benefit from higher earnings, faster income generation, access to financing, and lower minimum capex outlay requirements. By organizing the farmer supply chain and improving yield quality, Eggoz helps to increase farmers’ incomes and bring quality fresh produce to consumers.

Eggoz was founded in 2017 and has sold over 25 million eggs, with over 100 thousand birds under management. The company will use the funds to expand into newer markets, launch new products, expand its supply base, and strengthen its tech platform.

Abhishek Negi, Co-founder, Eggoz, said, “India produces more than 100 billion eggs every year. However, the category has seen minimum innovation and product development and lacks a consumer-focused brand serving the country’s growing need for fresh and nutritious food products. Eggoz wants to be the preferred brand for both consumers and farmers. We look forward to partner with Avaana Capital & Rebright Capital to scale our business and realize this vision.”

Commenting on the investment, Anjali Bansal, Founder, Avaana Capital, said, “We are excited to partner with the Eggoz team to innovate in a new category that addresses the nutritional needs of emerging middle India as well as leverages technology to organize the supply chain providing efficiency and income enhancement to farmers.”

Commenting on the investment, Takeshi Ebihara, Partner, Rebright Partners, said, “We are bullish about the agriculture supply chain Digital Transformation, also willing to contribute national food/health environment improvement. We believe that Eggoz is the right partner for that by building a sustainable integration model on the supply side and deliver quality products to the end consumers.”

Avaana Capital was founded in early 2018 and provides capital and support to innovative businesses that provide financial inclusion, access to affordable goods and services, and market linkages to “Middle India”. The Fund believes that investing in and helping scale such businesses creates attractive returns, as well as developmental impact.

Rebright Partners is an India/ASEAN focused early-stage tech venture capital firm, backed by Japanese Corporate/Institutional Investors. The fund is focused on investing in startups that are enabling digital transformation in sectors such as healthcare, agriculture, logistics, and supply chain, and mobility sectors targeting the next billion while making a positive impact. _

 

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