May 6, 2024: Fresh fruits startup Superplum on Monday said it has raised $15 million from investors to expand its business. Furthermore, the purupose of this new round of funding is to build infrastructure and transform produce supply chains in India.
The firm stated it has established a direct-from-farm produce supply chain, deploying proprietary technology and cold-chain infrastructure to enrich how produce is grown and brought to market.
Superplum, founded in 2019, was established to sell fruits like mangoes, litchis, apples, grapes, cherries, and plums amongst a growing list of products. It also provides traceability, allowing consumers to view pesticide test reports for each batch and see the fruit’s journey from farm to table.
According the company its vertically integrated cold chain technology expands shelf lives and enhances fruit quality, widening produce availability across the country, reducing food waste and ultimately improving farmer incomes. The fresh fruits firm works with farmers across 22 states in India and runs modern sourcing and supply chains for 25 fruits across the year.
Superplum to expand into new cities
Erik Ragatz, new Chairman of Superplum said, “Superplum is a hugely disruptive player in existing produce markets in India and has the opportunity to create an incredibly valuable enterprise.” Co-founder and CEO Shobhit Gupta said, “The fast-growing Indian consumer market is getting more and more demanding. While India has made huge strides in different domains, fresh produce remains lacking in technology and investments.”
Superplum fresh fruits are accessible online as well in several neighborhood stores in NCR and Bengaluru, the firm will soon serve customers in Mumbai city.
The lates round of funding was led by the company’s incoming Chairman, Erik Ragatz, former Partner and current Senior Advisor of the global private equity firm Hellman & Friedman. He joins a strong group of current investors including Mark Siegel, Dan Rose, Steve Jurvetson, Rick Kimball, Binny Bansal, and Kabir Misra.
