Total amount raised
$9.8 Millions
Latest funding date
05/01/2024
Location
Poshn has successfully raised $8 million in equity and $3.8 million in seed funding, positioning itself as a significant player in the digital agri-trading network. The platform offers comprehensive solutions for wholesale buyers and sellers of agricultural commodities, including demand aggregation, embedded finance, and innovative SaaS solutions.
Keep reading to explore the intricacies of Poshn's fundraising journey and the investors backing this transformative platform.
What Is Poshn?
Poshn, founded in 2020 by Bhuvnesh Gupta and Shashank Singh, is a digital agri-trading network based in New Delhi, India. The company provides a platform for wholesale buyers and sellers of agricultural commodities, offering services like demand aggregation, embedded finance, and innovative SaaS solutions.
With a team of 51-100 employees, Poshn aims to simplify the food ecosystem, particularly for MSMEs in the food sector. The platform assists in logistics, flexible payments, and cash flow management, making it easier for users to trade online.
Poshn's comprehensive solutions address key industry challenges such as unserved credit needs, poor capacity planning, and price discovery, positioning it as a significant player in the market.
How Much Funding Has Poshn Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: January 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the initial setup and development of Poshn's platform.
- Seed Round
- Amount Raised: $4 million
- Date: April 2022
- Lead Investors: Prime Venture Partners, Zephyr Peacock India
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the initial growth and development of Poshn's full-stack supply chain solutions.
- Seed Round
- Amount Raised: ₹288 million (approximately $3.8 million)
- Date: April 2022
- Lead Investors: Prime Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further build Poshn's stack of solutions and expand its market presence.
- Debt Financing
- Amount Raised: $2 million
- Date: May 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To streamline its supply chain and support growth.
- Seed Round
- Amount Raised: $4 million
- Date: May 2024
- Lead Investors: Prime Venture Partners, Zephyr Peacock India
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To build on existing solutions, address gaps in the food system, and expand to global markets.
Total Amount Raised: $13.8 million
Current Valuation: Not publicly disclosed
Key Investors
- Prime Venture Partners
- Details: Prime Venture Partners is a venture capital firm that invests in early-stage technology startups. They have been involved with Poshn since its seed round in 2022.
- Investment Focus Areas: Early-stage technology startups, SaaS, Fintech
- Notable Investments: MyGate, Quizizz, NiYO
- Zephyr Peacock India
- Details: Zephyr Peacock India is a private equity firm that focuses on investing in small and medium-sized enterprises in India. They have supported Poshn in multiple funding rounds.
- Investment Focus Areas: SMEs, Financial Services, Healthcare
- Notable Investments: Ujjivan Financial Services, Aye Finance, Metro Cash & Carry India
- Indigram Labs
- Details: Indigram Labs is an incubator that supports startups in the agri-tech and food-tech sectors. They have been a key investor in Poshn.
- Investment Focus Areas: Agri-tech, Food-tech, Clean Energy
- Notable Investments: Not publicly disclosed
- Alteria Capital
- Details: Alteria Capital is a venture debt fund that provides financing to high-growth startups. They have partnered with Poshn to fulfill its debt requirements.
- Investment Focus Areas: Technology, Consumer, Healthcare
- Notable Investments: Dunzo, Lendingkart, ZestMoney
What's Next for Poshn?
Poshn is poised to capitalize on the vast $800 billion food supply chain market by expanding its full-stack supply chain solutions and creating the largest distribution network. The company plans to enter global markets, particularly in Southeast Asia and the Middle East, leveraging its six-fold revenue growth from FY22 to FY24.
Future fundraising opportunities are likely as Poshn continues its aggressive expansion and integration efforts. The company may seek additional equity and debt funding to support its growth and technological advancements, ensuring it remains competitive in the fragmented market.
However, Poshn will face challenges such as navigating the complexities of international expansion, managing supply chain inefficiencies, and maintaining profitability. Addressing these issues will be crucial for sustaining its growth trajectory and achieving its ambitious goals.
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