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Saturday, March 25, 2023

Farm-to-consumer startup Deep Rooted raises $12.5 million in funding let by IvyCap

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Farm-to-consumer startup Deep Rooted said on Thursday that it has raised $12.5 million in funding led by IvyCap Ventures, with participation from existing investors, including Accel, Omnivore, and Mayfield.
Currently operating in Bengaluru, Hyderabad, and Chennai, the Bengaluru-based startup plans to expand its operations to cover major cities in South India, strengthen its technology stack, and proactively hire across marketing, technology, and business functions in the next 12 months.

Deep Rooted was cofounded in 2020 by Avinash B R, Gururaj Rao, Arvind Murali, and Santhosh Narasipura.

“We are thrilled to partner with IvyCap as we expand across South India, working directly with farmers and delivering the freshest fruits and vegetables to urban consumers,” said Avinash BR, Cofounder of Deep Rooted.
Ashish Wadhwani, partner at IvyCap Ventures, commented, “Fruits & Vegetables (F&V) as a category is ripe for disruption. Deep Rooted, with its focus on F&V, has already showcased a sustainable and profitable view of the opportunity while delivering value to both the farmers and end consumers.”

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