AgriTech startup Poshn has raised $4 million in equity and $2 million in debt in its pre-series A funding round from Prime Venture Partners and Zephyr Peacock India. The latest capital infusion brings total equity funding to around $8 million since the company’s inception in 2020.
In 2022, the startup had raised $4 million in equity in a seed round from Prime Venture Partners and Zephyr Peacock.
The company aims to support growth for food MSMEs and institutions through its full-stack supply chain solution including demand aggregation from various channels of trade, embedded finance for working capital, vendor partnerships for logistics, warehousing and more, and SaaS solutions.
Poshn will use the funds to further build its stack of solutions that address the gaps in the food system, aiming to create the largest distribution network. It will also deploy the funds to expand the business to global markets with imports/exports in profitable categories to Southeast Asian and Middle Eastern countries.
Speaking on the fundraise, Shashank Singh, Co-founder, Poshn, said, “Poshn has already cemented its position in the wholesale segment over the last three years. With the trust of investing partners and infusion of fresh equity, we integrate forward and backward in the chain and open foreign/export markets over the next 12 months while growing profitably.”