Agritech startup Ecozen, which makes products that help enhance life and value of perishables has raised a total of $6 million funding to fuel its growth phase.
The investors include Sathguru Catalyer’s Innovation in Food & Agriculture Fund (IFA), Caspian and the Hivos-Triodos Fund, Omnivore.
Based in Pune, Ecozen was founded in 2010 by three IIT Kharagpur alumni, Devendra Gupta, Prateek Singhal and Vivek Pandey. Approximately 25,000 farmers in India use Ecozen products.
Ecozen has three main products that help farmers who grow perishables to increase their yields, store their produce longer, and realise higher prices. They are:
1. Ecofrost - solar powered, portable cold room based on thermal energy storage that enables on-farm cooling and storage of perishable produce immediately after harvest
2. Ecotron - smart controller for irrigation pumps
3. Eco-Connect - platform that connects farmers growing perishables with organized buyers. Through its “Lease-a-Cold-Room” model, it is looking at providing cold chain access to farmers across the country.
Devendra Gupta, CO-founder & CEO said, the partnership with IFA and funds raised will help in expanding the produc range and enter new geographies, extend leasing and scale up eco connect. A Krishna Kumar, ex-MD of State Bank of India, will be joining the board.
In 2015, the company raised $3million from Omnivore.
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