Egg focussed consumer startup Eggoz raises USD 3.5 Million in Series A led by NABVENTURES
In a Series A round led by NABVENTURES, the Indian ‘egg-focussed’ consumer company Eggoz has raised $3.5 Mn.
Rebright Partners Bellerive Capital, Avaana Capital and angel investors Indresh Saluja and Sanjiv Rangrass also participated in the round.
Eggoz procures fresh, chemical-free eggs from farmers and supposedly within 24 hours of laying delivers them to retailers. By deploying IoT infrastructure and other technologies, the startup works closely with farmers. Including pH tests, quality grading, cleaning and UV sanitisation, Eggoz puts eggs through 11 safety checks.
The startup will use the funds towards launching new egg-based value-added products, increasing its brand footprint and entering new geographies.
“We, at Eggoz, are building the first nationwide farm-to-consumer brand that is centred around superior quality, high bioavailable nutrition and freshness. Over the past four years, we have developed our quality integration model and are now poised for rapid growth,” said Abhishek Negi, cofounder of Eggoz.
Growing at a CAGR of 16.5 per cent between 2018 and 2023, the Indian poultry market was worth INR 149,400 Cr in 2017 and was projected to reach INR 377,500 Cr by 2023.
India’s per capital egg consumption increased from 75 eggs in a year in 2019 to 81 eggs in a year in 2020 during the pandemic.
“We at NABVENTURES believe that this initiative of Eggoz will bring egg production closer to the consumption centres in North India while augmenting farmer’s incomes. We shall be working closely with Eggoz to deepen their penetration in the rural areas amongst farmers and the community groups,” said Gills John, vice president of NABVENTURES.
Rebright Partners Bellerive Capital, Avaana Capital and angel investors Indresh Saluja and Sanjiv Rangrass also participated in the round.
Eggoz procures fresh, chemical-free eggs from farmers and supposedly within 24 hours of laying delivers them to retailers. By deploying IoT infrastructure and other technologies, the startup works closely with farmers. Including pH tests, quality grading, cleaning and UV sanitisation, Eggoz puts eggs through 11 safety checks.
The startup will use the funds towards launching new egg-based value-added products, increasing its brand footprint and entering new geographies.
“We, at Eggoz, are building the first nationwide farm-to-consumer brand that is centred around superior quality, high bioavailable nutrition and freshness. Over the past four years, we have developed our quality integration model and are now poised for rapid growth,” said Abhishek Negi, cofounder of Eggoz.
Growing at a CAGR of 16.5 per cent between 2018 and 2023, the Indian poultry market was worth INR 149,400 Cr in 2017 and was projected to reach INR 377,500 Cr by 2023.
India’s per capital egg consumption increased from 75 eggs in a year in 2019 to 81 eggs in a year in 2020 during the pandemic.
“We at NABVENTURES believe that this initiative of Eggoz will bring egg production closer to the consumption centres in North India while augmenting farmer’s incomes. We shall be working closely with Eggoz to deepen their penetration in the rural areas amongst farmers and the community groups,” said Gills John, vice president of NABVENTURES.
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