Food and Vegetable Retailing Startup Freshworld Raises Funding
Food and vegetable retailing startup, Freshworld has raised an undisclosed amount in funding from IAN investor Nagaraja Prakasam and Infosys co-founder Kris Gopalakrishnan. As a part of the deal, Prakasam joined the board of Freshworld.
As per a VCCircle report, the investment will be used to expand its business, increase the reach and scale of Freshworld’s retail network, strengthen its technology and also plan to foray into an organized retail store format for the fresh category only.
Founded by Rajiv Rao, Freshworld ventured in to a ‘farm-to-home’ concept by organizing fruits and vegetables retailing through a street vendor by using battery operated carts. Each cart uses a tablet, printer and communication technologies to provide track inventory, receipt and analyze data.
In July 2013, the firm had secured an undisclosed amount in angel funding. Earlier this month, Kris Gopalakrishnan and S D Shibulal, along with the Infosys’s former board member Srinath Batni had invested USD 1 million in Bengaluru-based e-commerce platform SellerworX Online Services and USD 2 million in Mysuru-based clean energy company Vigyanlabs.