Pune based Agri tech start-up EarthFood raises 6.4 Crores of funding from Rairah Corporation
Pune: Pune based agri-tech start-up EarthFood which is into residue free farming, today announced that is raised a funding of 6.4 crores from city-based Rairah Corporation which has interests in real estate, food and investment sector. Since its inception in 2016, EarthFood has been committed to offering products in the most hygienic and healthy manner. They offer a wide range of fruits and vegetables that are grown in the purest form without using harmful chemical fertilizers or pesticides and they are sold to the customers without adding preservatives and synthetic food enhancers. The produce are residue free. Earth Food’s philosophy is ‘Farm to fork’ in the most natural way known to man.
EarthFood, which was earlier a part of VTP Foods, has now become a part of VTP Rairah Foods. To maintain its lead in the agri tech space, EarthFood is looking at a long-term strategy of building new products and strengthening its technology. They also plan to expand their product line and soon will be making milk and milk products. The company also plans to launch residue free spices in the dehydrated segment.
Nilesh Palresha, Founder, EarthFood said, “Our idea behind starting EarthFood was to address the extensive abuse of chemical fertilizers and pesticides in agriculture that has been responsible for the deteriorating quality of produce and to establish a brand that would supply global standard vegetables and fruits to the domestic market ultimately benefitting the health of the consumer. Getting Rairah Corporation on board was a part of our strategic business decision and I am sure that it will boost our growth and help us in further enhancing footprints of the brand in the market. We plan to use this funding to strengthen our position in the market and invest in building differentiated offerings for our customers.”
Commenting on the development Siddarth Khinvasara, Chairman Rairah Corporation said, “We at Rairah Corporation are pleased to be associated with EarthFood. Nilesh is a seasoned entrepreneur who has demonstrated his ability to build and scale up business. We are highly impressed with the development of EarthFood in a short time span of 2 years. Considering the innovative offerings of the brand in the Agri space, we see a solid growth potential for EarthFood in the Indian market and I am excited to be a part of this journey.”
EarthFood a brainchild of city-based second-generation entrepreneur Nilesh Palresha, offers produce that is much healthier and cuts risks of obesity, blood pressure or allergies arising from vegetable residue. The brand has a strong online existence along with its presence in 25 retail outlets and has a solid customer base in both offline and online segment. With an average order supply of 50 metric ton per month, the company looks forward to augment its growth in the Agri space.