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Agritech Firm Superplum Secures $15 Million in Series A Funding Led by Former Hellman & Friedman Partner

Superplum

Noida-based agritech startup Superplum has successfully raised $15 million in its Series A financing round, spearheaded by Erik Ragatz, a previous partner turned senior advisor at private equity firm Hellman & Friedman. This latest funding round also sees continued support from existing investors, including Mark Siegel, Dan Rose, Steve Jurvetson, Rick Kimball, Binny Bansal, and Kabir Misra.

Superplum’s journey of financial backing began with a pre-Series A round amounting to $3.8 million in June 2021, culminating in a total accumulation of nearly $22 million to date. With this influx of capital, Superplum aims to fortify its infrastructure and expedite its mission to revolutionize produce supply chains within India, as stated in the company’s recent press release.

Established in 2019 by Shobhit Gupta, Superplum has engineered a direct-from-farm produce supply chain, leveraging proprietary technology and cold-chain infrastructure to optimize cultivation and distribution processes. By elongating shelf lives and enhancing fruit quality, the company actively combats food waste while bolstering farmer incomes.

Distinguishing itself as India’s premier fruit brand, Superplum prides itself on delivering superior quality and healthier produce, spanning an array of fruits including mangoes, litchis, apples, grapes, cherries, and plums. Collaborating with farmers across 22 states in India, such as Bihar, Kashmir, and Karnataka, the company operates contemporary sourcing and supply chains for 25 fruits throughout the year.

Superplum’s products are retailed through various platforms, including Amazon Fresh, Zepto, Swiggy, and Blinkit, while also being available at prominent outlets such as Spar, Metro, Lulu, Modern Bazaar, More, Trent, as well as local grocery stores in NCR and Bengaluru.

Despite a noticeable decline in agritech startup investments, dropping from $773 million in 2022 to $182 million in 2023, according to startup data intelligence platform TheKredible, Superplum’s recent Series A funding exemplifies ongoing investor confidence in the sector’s potential.