Agritech startup Eggoz gets $1.5 million from Avaana Capital, Rebright Partners
The startup is trying to bring in technology to make the supply chain of eggs stronger, increase productivity for farmers and help them make more money in the process
November 04, 2020 / 11:36 AM IST
Nupa Technologies which owns Eggoz has raised $1.5 million from Avaana Capital and Rebright Partners, the company said in a note on November 4.
Eggoz is an agri-supply startup which is trying to bring innovation in the egg supply industry. The startup works in partnership with farmers who breed birds, collect and sell eggs in the market. Eggoz provides them with technology support to help boost quality and improve productivity.
Through this intervention, Eggoz attempts to offer increased income for farmers, easier access to financing and lower investment in capex.
Founded in 2017, Eggoz has sold over 25 million eggs and manages around 1 lakh birds. Now with the new funds, the company aims to expand into newer markets, launch new products and strengthen its technology platform.
“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,” said Abhishek Negi, cofounder, Eggoz.
Over two previous angel rounds, the startup had raised Rs 4 crore from angel investors.