Superplum, an Agritech startup selling premium fresh fruits, announced on Monday that it raised $15 million from investors to expand its business. The company completed its Series A funding round, securing $15 million.
The funding round was led by Erik Ragatz, the incoming chairman, who is a former Partner and current Senior Advisor of the global private equity firm Hellman & Friedman.
Erik Ragatz joins a group of current investors, including Mark Siegel, Dan Rose, Steve Jurvetson, Rick Kimball, Binny Bansal, and Kabir Misra.
Established in 2019, Superplum plans to utilize the funds to develop infrastructure and revolutionize produce supply chains in India.
Superplum has constructed a direct-from-farm produce supply chain, utilizing proprietary technology and cold-chain infrastructure to enhance the production and distribution of produce significantly.
The Agritech startup Superplum sells a variety of fruits, such as mangoes, litchis, apples, grapes, cherries, and plums, among others.
Additionally, it offers traceability features, enabling consumers to access pesticide test reports for each batch and track the fruit’s journey from farm to table.
Utilizing vertically integrated cold chain technology, the company extends the shelf life and improves the quality of fruits. This expands the availability of produce nationwide, reduces food waste, and ultimately enhances farmer incomes.
Superplum collaborates with farmers from 22 states in India and manages modern sourcing and supply chains for 25 different fruits throughout the year.
Superplum’s new Chairman, Erik Ragatz, said, “Superplum is a hugely disruptive player in existing produce markets in India and has the opportunity to create an incredibly valuable enterprise.”
Shobhit Gupta, the company’s co-founder and CEO, said, “The fast-growing Indian consumer market is getting more and more demanding. While India has made huge strides in different domains, fresh produce remains lacking in technology and investments.”
Superplum’s products are conveniently accessible online through platforms like Amazon Fresh, Zepto, Swiggy, and Blinkit. Additionally, their premium fruits are stocked at major retailers such as Spar, Metro, Lulu, Modern Bazaar, More, and Trent, as well as numerous neighborhood stores in NCR and Bengaluru. Soon, they’ll be hitting the shelves in Mumbai too.
Furthermore, the company has expanded its reach globally by marketing its branded traceable products. Leveraging its top-notch supply chain, Superplum foresees significant opportunities for premium Indian Mangoes, Lychees, and various other tropical fruits.
