Agri & Agritech
VedaCorp advises staples Agri-Tech start-up SuperZop on its fund raise from European fund Incofin
About
SuperZop
SuperZop has one of the most comprehensive offerings in staples and allied categories and offers a seamless digital buying experience. Thanks to the platform, thousands of small retailers and restaurants can buy staples directly from farmers and food processors, leading to a more efficient agri-food value chain. SuperZop has also launched its B2C farm-tech brand SuperChoice, which has been well received.
Incofin
Incofin promotes financial inclusion for rural entrepreneurs and aspires synergies across the agri-food value chain and has recently concluded its first close of a USD 100 million India Equity fund – IPF. Incofin’s current investments in India include Sohan Lal Commodity Management (Agri-to-finance integrated group), SAVE Solutions (one of the largest business correspondent networks), Faircent (largest peer to peer lending platform), Light Microfinance (leading microfinance company focused on rural women borrowers) and Namdev Finvest (rural focussed MSME lender).
Background
We are pleased to announce that SuperZop, one of India’s leading staples Kirana-Tech commerce platforms, has raised equity capital from Incofin’s India Progress Fund. Incofin Investment Management is an international impact investment firm with an AUM of USD 1.2 billion. SuperZop has also raised structured finance from Samunnati.
SuperZop, founded by Raghu Allada, Prithwi Singh and Darshan Krishnamurthy, has developed one of the largest staples agri-commerce platform for B2B customers. The company enables 20k+ retailers, in Mumbai & Pune, to directly source staples from farmers, multiple FPOs and processors from 13 states across India. SuperZop’s proprietary technology includes the ordering app, a logistics optimization engine and an application to evaluate the quality of commodities through image processing, machine learning and deep learning algorithms.
Veda Corporate Advisors (“VedaCorp”) was the exclusive financial advisor to the Company. This marks VedaCorp’s 14th transaction overall in the Agri ecosystem and reaffirms our credentials as a leading investment banker in the segment. This also demonstrates VedaCorp’s ability to engage with global investors & facilitate capital raise transactions for technology driven new-age businesses across sectors.