Poshn, an innovative food-tech startup on a mission to simplify the unorganized food supply chain, has announced that it has raised USD 4 million in equity and USD 2 million in debt in a pre-series A funding round held recently.
The funding led by Prime venture partners and Zephyr Peacock India will help Poshn create the largest distribution network in the food ecosystem.
With that, the company founded by Shashank Singh and Bhuvnesh Gupta has raised around $8 million in equity since its inception in 2020.
“Poshn has already cemented its position in the wholesale segment over the last three years. With the trust of investing partners and infusion of fresh equity, we aggressively integrate forward and backward in the chain and open foreign/export markets over the next 12 months while growing profitably,” shared Singh.
Poshn is a full-stack food-tech supply chain company taking an integrated approach to solving effectiveness and efficiency in the entire food value chain in phases that include food processing units, wholesale buyers, institutions, general trade, and retailers.
Poshn plans to use the fresh funds to build further its innovative stack of solutions that address the gaps in the system. Besides, it will use the funds to expand the business to global markets with imports/ exports in profitable categories to Southeast Asian and Middle Eastern countries.
Over the past three years, Poshn has experienced remarkable growth while maintaining profitability. The company's revenue has skyrocketed six-fold from FY22 to FY24. Poshn is one of the few startups that have been EBITDA profitable while supporting the growth trajectory. Since its inception, the startup has marked a presence in more than 16 states in India. In 2022, the startup raised USD 4 million in equity in a seed round with Prime Venture Partner and Zephyr Peacock. Additionally, it has partnered with Banks & NBFCs for its debt requirements. Some notable names include ICICI Bank, Alteria Capital, UCIC, Northern Arc, Blacksoil, and Capsave.
“Poshn has led by being a supply-first company and has meaningfully solved for the B2B food value chain. The company has always been bottom-line focused with a remarkable ROCE and wants to continue expanding that further by going deeper into the supply chain while also pursuing some full-stack vertical integrations. We believe Poshn will be a category-defining company in the coming years, and we are excited to be their partners from day zero,” added a spokesperson from Prime Ventures.
The food supply chain market is over USD 800 billion and is highly fragmented on the supply side. The chain experiences inefficiencies due to a slew of intermediaries or middlemen, poor capacity planning, a lack of predictable demand, and a lack of technology. Poshn is working on bridging these gaps with technology.
“Poshn is using technology to simplify and organize the fragmented food value chain in India. Both buyers and suppliers are adopting Poshn's platform for convenient access to quality products at competitive prices. We are excited to partner with Shashank and Bhuvnesh,” said Mukul Gulati, Managing Partner, Zephyr Peacock India.
Evocus, one of the innovative brand renowned for redefining beverage experiences, is set to disrupt the industry with the launch of its latest creation—Black Soda.
As World’s first-ever black soda, this premium product is specifically designed for the HoReCa industry, offering a luxurious and unique alternative to traditional soft drinks while enhancing mixology like never before.
Evocus Black Soda redefines the beverage experience with its striking black hue, exceptional smoothness, and superior carbonation. Crafted from premium natural ingredients, it offers a rich and refreshing taste that sets it apart. More than just a drink, Black Soda embodies luxury, sustainability, and innovation, making it the ultimate choice for the HoReCa sector. Perfect for upscale restaurants, elite gatherings, and premium bars, it delivers a unique and sophisticated indulgence like no other.
Black Soda redefines indulgence with its exceptional quality and unique appeal, making every occasion extraordinary.
With this ground-breaking launch, Evocus continues to lead in innovation by collaborating with renowned cafes and hotels such as Bawri India, Perch Wine & Coffee Bar, and more. This premium beverage delivers bold flavor, superior refreshment, and unmatched sophistication, catering to the tastes of discerning consumers.
Diageo India, one of the country’s leading alcohol beverage company, has announced their launch of Godawan Estuary Premium Water, in collaboration with Estuary Water.
The water will be available across all major outlets of Indian markets later this year.
In line with Diageo India’s vision of crafting elevated experiences, Godawan Estuary Premium Water represents a new chapter in the brand’s journey toward offering high-quality lifestyle choices. The launch, in partnership with the Indian start-up Estuary, introduces water thoughtfully developed and designed to meet the exacting standards of discerning consumers.
This collaboration embodies a shared commitment to sophistication and precision, offering an exceptional accompaniment to every experience without altering their integrity.
Vikram Damodaran, Chief Innovation Officer of Diageo India, said “It is our belief that even the simplest pleasures can be elevated through craftsmanship and care. This collaboration with Estuary Water represents a meeting of shared values; one that reflects the artistry and passion behind everything we do.”
Adding to this, Devasish Kamdar, Founder of Estuary Blending Water, said “Godawan Estuary Premium Water specially formulated in Scotland is a new category created for epicureans around the globe to enhance their moments. We look forward to this becoming the go to for all luxurious occasions and as we say - elevate your experiences with Estuary.”
Godawan Estuary Premium Water will be available across leading e-commerce platforms and retail outlets in India starting in December 2024. The brand will also host a luxury craft experience at Nahargarh Palace in Ranthambore at the end of the year. This exclusive three-day getaway will offer guests the opportunity to immerse themselves in modern luxury, with a focus on purposeful engagement and curated experiences.
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