Superplum, an agritech startup that offers premium fresh fruits, has secured $15 million from investors to fuel its business expansion. The company announced the successful completion of its Series A funding round, raising a total of $15 million.
Erik Ragatz, the incoming chairman of the company and former Partner turned Senior Advisor at the renowned global private equity firm Hellman & Friedman, took the lead in steering the funding round.
He becomes part of a strong lineup of investors that includes Mark Siegel, Dan Rose, Steve Jurvetson, Rick Kimball, Binny Bansal, and Kabir Misra.
Established in 2019 by Shobhit Gupta, Superplum will utilize the raised capital to develop infrastructure and revolutionize the supply chains for produce in India.
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Superplum has established a direct-from-farm supply chain for produce, employing proprietary technology and cold-chain infrastructure to significantly enhance the process of cultivation and distribution to the market.
It offers a variety of fruits including mangoes, litchis, apples, grapes, cherries, and plums, with additional products continually being added to its expanding inventory.
Additionally, it offers traceability features, enabling consumers to access pesticide test reports for each batch and track the fruit’s journey from the farm to the table.
Utilizing its vertically integrated cold chain technology, the company extends shelf lives and enhances fruit quality, thereby increasing produce availability nationwide, minimizing food waste, and ultimately boosting farmer incomes.
The company collaborates with farmers across 22 states in India and operates modern sourcing and supply chains for 25 types of fruits throughout the year.
Erik Ragatz, the new Chairman of Superplum, remarked, “Superplum is a highly disruptive force in India’s current produce markets and holds the potential to establish an immensely valuable enterprise.”
Shobhit Gupta, Co-Founder and CEO of the company, commented, “The rapidly expanding Indian consumer market is becoming increasingly demanding. Despite significant advancements in various sectors, fresh produce in India still lags behind in terms of technology and investment.”
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Superplum’s products are conveniently accessible through online platforms like Amazon Fresh, Zepto, Swiggy, and Blinkit. Moreover, their premium fruits can be found at well-known retailers including Spar, Metro, Lulu, Modern Bazaar, More, and Trent, in addition to numerous neighborhood stores across NCR and Bengaluru.
They will soon be sold in Mumbai as well.
The company has recently expanded its marketing efforts to promote its branded traceable products on a global scale.
Superplum, boasting a top-tier supply chain, anticipates significant opportunities for premium Indian Mangoes, Lychees, and a variety of other tropical fruits.
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