Anant Goel, Nitin Gupta, and Sahil Madan, all former employees of Milkbasket, have teamed up to launch Sorted, a startup that operates a franchisee network of digital mom-and-pop stores that offer high-quality fruits and vegetables sourced directly from farms. The startup aims to make it easier and simpler for customers to stock and sell F&V products compared to procuring and selling the products of reputed FMCG brands.
Goel’s previous experience as the CEO of Milkbasket, a leading online grocery firm in India, has given him valuable insights into the F&V space, which will come in handy as Sorted seeks to carve out a niche in this highly competitive segment. Milkbasket offered a range of grocery products, including F&V, dairy, and bakery items, and catered to the household needs of customers in India. The company had raised $38.5 million across 11 funding rounds before being acquired by Reliance Retail Ventures Ltd for $40 million in 2021.
Goel said, “Sorted is not attempting to change the way India buys F&V, it’s plugging the inefficiencies that plague the existing supply chains. We have undertaken multiple POCs over the last nine months to solve the known industry issues, especially wastage while answering for growth and profitability. Working closely with mom & pop stores, Sorted is here to capture a significant pie of this $160 Bn, high-frequency and high-margin category.”
The F&V delivery market has seen a rapid increase in adoption in recent years, driven by factors such as rising digital penetration and pandemic-driven demand. Several startups in the segment, such as Akshayakalpa, Harvesting, and Deep Rooted, raised funds last year to expand their operations and meet the growing demand for fresh produce. According to a report by Bain & Company, agritech investments in India are expected to reach $35 billion by 2025, up from $329 million in 2020, underscoring the potential of this rapidly growing segment.
With Sorted, Goel, Gupta, and Madan aim to capitalize on the growing demand for high-quality fruits and vegetables in India by providing customers with a convenient, reliable, and efficient way to procure and sell these products. By leveraging their expertise in the F&V space, they hope to create a successful business that not only benefits customers but also helps to transform the agricultural supply chain in India.