Vegrow, an agritech company headquartered in Bengaluru and focused on a business-to-business (B2B) fruits marketplace, has recently completed its Series C funding round. The funding amounted to $46 million and was primarily spearheaded by GIC, Singapore's sovereign wealth fund. Noteworthy is the continued involvement of current investors like Prosus, Matrix Partners India, Elevation Capital and Lightspeed in this funding round.

The raised capital is designated for the expansion of Vegrow's operations in India and enhancing its global presence. This effort aligns with Vegrow's goal to bring together fruit traders and buyers from both supply and demand sides onto a unified platform. Avendus, acting as Vegrow's financial advisor, played a crucial role in facilitating the deal.

This Series C funding round signifies a significant milestone for GIC, marking its first investment in India's agritech and B2B sectors. Established in 2020 by IIT alumni Praneeth Kumar, Mrudhukar Batchu, Kiran Naik, and Shobhit Jain, Vegrow has steadily emerged as a key player, fostering connections among various stakeholders in the fruit supply chain. Overall, this funding not only strengthens Vegrow's financial position but also represents GIC's strategic entrance into India's thriving agritech industry, positioning Vegrow as a pivotal entity in the B2B fruit marketplace.