Agritech startup Nutrifresh raises $5 million funding from investors

New Delhi: Agritech startup Nutrifresh on Tuesday said it has raised $5 million (Rs 38.8 crore) from investors for expansion and growth. The company focuses on hydroponically-grown, residue-free, and chemical-free produce.

The funding is led by Theodore Cleary, Archer Investments; Sandiip Bhammer, Managing Partner – Green Frontier Capital; Sky Kurtz, chief executive officer (CEO) & cofounder of Pure Harvest UAE; Mathew Cyriac, Florintree Advisors & ex-managing director of Blackstone India; Soumitra Dutta, Dean Elect – Saïd Business School, University of Oxford; Shaishav Dharia, Regional chief executive officer, CEO Lodha Group; Karan Goshar, Samarthya Investment Advisors LLP, and among others.

“The funding will be used to scale up farm operations, implement complete traceability and transparency of produce, marketing and creation of an integrated Farm-tech platform,” Nutrifresh said in a statement.

Sanket Mehta and Ganesh Nikam are cofounders of Nutrifresh.

The entire production is controlled right from procurement of seeds, germination, nursery, harvesting, packaging, and finally delivery of the product to the end-user. The produce reaches the consumer within 24 hours of harvest.

“Team Nutrifresh is extremely committed to bringing focused Hydroponic Farming which is robust, tech-enabled, IOT based and gives consistent production,” Mehta said.

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“With the current round of funding, Nutrifresh aims to enhance the production capacities and bring in standardisation in the production process thus, scaling the farms with requisite SOPs to gain a higher competitive edge,” he added.

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