Hydroponics start-up Nutrifresh which produces pesticide-free food raised $5 million.
An agritech start-up called Nutrifresh which is primarily concerned with cultivating fresh food through the use of hydroponics has successfully raised $5 million in pre-series seed funding.
The funding was spearheaded by investors such as Theodore Cleary of Archer Investments, Sandiip Bhammer, Managing Partner – Green Frontier Capital, Sky Kurtz, CEO & Cofounder of Pure Harvest, UAE, Mathew Cyriac, Florintree Advisors & ex-MD of Blackstone India, Soumitra Dutta, Dean Elect – Sad Business School, University of Oxford, Shaishav Dharia, Regional CEO, Lodha Group
According to the company, the investment will be used to create an integrated farm-tech platform, scale-up farm operations, and implement complete traceability and transparency of production. Marketing and product development will also be funded with this round of funding.
Pesticide-free hydroponic produce
Nutrifresh, which was established by Sanket Mehta and Ganesh Nikam, has as its primary mission the provision of hydroponically grown produce that is free of pesticides throughout the entire year in India.
It already has a facility that is set up for protected growing and employs high-quality seeds sourced from both Israel and the United States. This facility also has air that is delivered in controlled amounts, water that is cleaned using RO, and nutrients that are water-soluble.
Nutrifresh provides its products to more than 100 B2B aggregators in the Indian market in addition to modern trade aggregators and delivery partners such as Nature’s Basket, Big Basket, Swiggy, Kissan Konnect, and Zomato Hyperpure. The company has more than 42 different stock-keeping units (SKUs).
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‘With the current round of funding, Nutrifresh aims to enhance the production capacities and bring in standardization in the production process, thus, scaling the farms with requisite SOPs to gain a higher competitive edge,’ said Sanket Mehta, Co-Founder of Nutrifresh. The company Nutrifresh aspires to become a well-known and respected brand.