Agri Business

Agritech startup Eggoz raises ₹2.5 crore to fund expansion

PTI New Delhi | Updated on May 18, 2020 Published on May 18, 2020

Agritech startup Eggoz, which is into the business of egg production, has raised ₹2.5 crore from investors to fund its expansion plans.

Founded in December 2017, the startup is a full-stack egg producer of nutrition-rich eggs. It operates a network of poultry farms in Bihar and Madhya Pradesh.

Eggoz has raised ₹2.5 crore as part of its seed funding. It had earlier secured ₹1.2 crore from a clutch of angel investors.

The seed funding round saw the participation of investors like Tracxn Labs, Angellist, Tri-Deep Capital, founders of Letstransport, and angel investors along with existing investors - Narendra Sankar, Sunil Mishra, and Vishal Sharma, the company said.

Eggoz has so far sold over two crore eggs and has more than 1,00,000 birds under management. It has developed a new farming model for small-scale commercial egg farming.

With Eggoz’s technology and integration platform, farmers can rear flock sizes starting from 500 birds at the affordable initial investment and less land requirement, said Uttam Kumar, founder of the company.

With these efforts, Eggoz poultry farming is one of the most profitable and stable businesses to generate allied income for many marginal farmers as well as to fulfil protein-enriched food requirement of the growing population, Kumar added.

Eggoz works with farmers at several locations in north India, using nutritional engineering and technology.

Abhishek Goyal, Founder of Tracxn Labs, said: India’s egg supply chain is largely unorganised. There is an opportunity for a player to implement best practices in production and create a trustworthy consumer brand. We were quite impressed by the founding team passion for solving this market.

Published on May 18, 2020

A letter from the Editor

Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!

Support Quality Journalism
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.