The startup will use the funds to expand into newer markets, launch new products, grow its supply base, and strengthen its tech platform.
Founded in 2017 by Abhishek Negi, Uttam Kumar, Aditya Singh and Pankaj Pandey, Eggoz has sold over 25 million eggs, with over 100 thousand birds under management.
âIndia produces more than 100 billion eggs every year. However, the category has seen minimum innovation and product development, and lacks a consumer-focused brand, serving the countryâs growing need for fresh and nutritious food products. Eggoz wants to be the preferred brand for both consumers and farmers,â said Abhishek Negi, cofounder, Eggoz. Avaana Capital and Rebright Capital partnership will enable the startup to scale up their business.
Eggoz sources eggs directly from farmers through a deep integration model. The startup provides technology-backed support to egg farmers for boosting quality and productivity, enabling the company to build and maintain a supply of consistently high quality produce.
Farmers benefit from higher earnings, faster income generation, access to financing, and lower minimum capex outlay requirements, the company said in a statement. By organizing the farmer supply chain and improving yield quality, Eggoz helps to increase farmersâ incomes and bring quality fresh produce to consumers, it said.
âWe are bullish about the agriculture supply chain digital transformation. We believe that Eggoz is the right partner by building a sustainable integration model on the supply side and delivering quality products to the end consumers,â said Takeshi Ebihara, partner, Rebright Partners.
Eggoz had earlier received Rs 1.2 crore from a clutch of angel investors. Subsequently, it secured Rs 2.5 crore in seed funding in May 2020.