Eggoz, a Gurugram-based Agri-tech startup, has raised $8.8 million in its Series B funding round led by IvyCap Ventures. Existing investors Nabventures, Avaana Capital, and Rebright Partners also participated in the round.
Additionally, angel investors, including Shiprocket co-founder Vishesh Khurana, the founders of Dineout (Ankit Mehrotra, Sahil Jain, Nikhil Bakshi, and Vivek Kapoor), and Swiggy vice president for sales Khalid Qazi took part in the round.
The egg-focused agro-consumer tech company will invest in the supply chain and enlist highly qualified individuals to join the Eggoz community to expand its market.
“With this funding, we plan to take Eggoz to more geographies and have a larger impact on the lives of both farmers and consumers,” said Abhishek Negi, Co-founder of Eggoz.
Currently, its products are offered in metropolitan cities such as Delhi-NCR, Bengaluru, Kolkata, Chandigarh, Jaipur, and Lucknow. The firm claims to have expanded more than five times in the last year alone.
Eggoz strives to bring fresh and chemical-free eggs to their consumer’s plate
Abhishek Negi, Aditya Singh, and Uttam Kumar, graduates of IIT Kharagpur, formed Eggoz in 2017. The agri-tech firm assures customers of multichannel, next-day delivery of fresh eggs that are procured from farmers. The company claims to have developed an asset-light farmer integration technique.
It promises customers fresh eggs delivered within one day. Its entire product line is prepared using herbal hens under the constant supervision of technicians and veterinarians.
Eggs are a core part of Indians’ diet. It is nature’s super food and a reliable source of protein and all the essential nutrients,” said Abhishek Negi, Co-Founder, Eggoz.
“However, the current state of eggs in India needs to improve, where this category has been under-penetrated in terms of bad hygiene practices, no quality standardization, and an untraceable value chain. We believe the supply chain must be solved to ensure eggs can deliver on their promises,” added Negi.
The company’s mission is to maintain the nutritional integrity and freshness of eggs for the consumer while greatly increasing rural farmers’ income.
In order to create a suitable atmosphere that would be essential in supplying farm-fresh eggs packed with nutrients, the firm intends to fuse technology with quality, cleanliness, and transport.
“Eggs being a major source of protein and a dietary staple for a huge section of India’s 1.4 billion population, the market potential is tremendous. Eggoz, with its unique model, has the potential to capture this market and become the leader in this segment,” said Vikram Gupta, Founder and Managing Partner IvyCap Ventures Advisors Pvt Ltd.