Company Name : VegFru
Funding Amount : Undisclosed
Investor(s) Wingify
Funding Round : Seed round
SaaS player Wingify, has made an investment in VegFru, an online B2B marketplace that connects farmers and suppliers in fruit and vegetable (F&V) trading directly with retailers and large consumers.
VegFru aims to connect India’s farmers, wholesalers and buyers. The company currently has 5000+ vendors listed on the platform.
According to Anil Chopra, Founder and CEO, VegFru, “VegFru.com has been conceptualized in a bid to modernize the F&V trade in India and bring in the much-needed transparency in the sector. It is surprising that the same Mangoes that are sold in Vijaywada for Rs 7000 per quintal are sold at Rs 10000 per quintal at New Delhi Azadpur mandi. Even after accounting for transportation and packaging costs, that is 20% increase in wholesale price from South India to North India! Another surprising fact is that farmers in developed nations get 50-60% of final consumer price of F&V produce while an Indian farmer just gets 20-30%. The reason for all these inefficiencies is that the F&V markets and marketing infrastructure in India are not linked with each other, besides an extremely large chain of intermediaries, excessive wastage because of repeated and rough handling of fragile produce. What sellers and buyers in one region know, is not known by farmers in other regions about prices, best practices and more. With VegFru.com, we want to make the entire trading process extremely easy, transparent, reliable and efficient for all the entities involved.”
