[Delayed Funding Alert]
Agritech startup Eggoz has raised $3.5 million as part of their series A round from NABVENTURES (VC fund of NABARD), Avaana Capital, Rebright Partners, Bellerive Capital and angel investors Sanjiv Rangrass and Indresh Saluja.
The venture was founded by Abhishek Negi, Uttam Kumar, Aditya Singh and Pankaj Pandey. Since their inception in December 2017, they have sold over 2 crore eggs. Eggoz claims to be the most profitable and stable poultry business in India. It is primarily present in the Delhi-NCR area along with Allahabad, Bhopal, Chandigarh, Patna, Indore and Ranchi.
They produce chemical-free and nutrition-rich eggs and has a network of poultry farms in two states of India - Madhya Pradesh and Bihar. They also claim to deliver eggs within 24 hours of laying. All eggs undergo 11 safety tests to verify their quality.
It plans to utilise the current funds to expand in North India and integrate more with farmers. They had previously raised Rs 1.2 crore and later Rs 2.3 crore by Tracxn Labs, Angelist, Tri-Deep Capital, Letstransport and other angel investors like, Narendra Sankar, Sunil Mishra and Vishal Sharma.
The egg consumption market in India is worth $12 billion. Eggoz is trying to be India’s first nationwide brand for eggs.