Key Points
- Poshn, a foodtech startup, secures $4 million in pre-Series A funding round led by Prime Venture Partners and Zephyr Peacock India.
- The funding includes $2 million in debt and follows a previous $4 million seed round in 2022.
- Poshn has partnered with prominent Banks & NBFCs like ICICI Bank, Alteria Capital, and Northern Arc for its debt requirements.
- The fresh capital will be utilized to enhance Poshn’s solutions, address market gaps, and expand globally into Southeast Asian and Middle Eastern markets.
- Founded in 2020 by Bhuvensh Gupta and Shashank Singh, Poshn leverages AI models for wholesale buying and selling of commodities.
Poshn, a promising player in the foodtech industry, has successfully secured $4 million in its pre-Series A funding round, a testament to its growing influence and potential in the market. The funding, which includes $2 million in debt, was led by Prime Venture Partners and Zephyr Peacock India.
This recent injection of capital follows Poshn’s earlier seed round in 2022, where it raised $4 million from the same investors, Prime Venture Partners and Zephyr Peacock. Notably, the startup has also forged partnerships with leading Banks & NBFCs, including ICICI Bank, Alteria Capital, UCIC, Northern Arc, Blacksoil, and Capsave, to fulfill its debt requirements.
The funds from this latest round will be pivotal in further enhancing Poshn’s suite of solutions, addressing critical gaps within the system. Additionally, the company plans to leverage the capital to expand its footprint in global markets, with a strategic focus on Southeast Asian and Middle Eastern countries, facilitating imports and exports.
Established in 2020 by Bhuvensh Gupta and Shashank Singh, Poshn distinguishes itself by leveraging proprietary AI models to streamline wholesale buying and selling of commodities within the highly fragmented processed commodity trade market. While Poshn stands out in its niche, it faces competition in specific segments from industry players like Zetwerk (manufacturing), Infra.Market (construction), and Fashinza (apparels).
Poshn’s exponential revenue growth, claiming a six-fold increase from FY22 to FY24, underscores its trajectory towards success. Since its inception, the startup has made significant strides, establishing a presence in over 16 states across India.
With this latest infusion of capital, Poshn is poised to further disrupt the foodtech landscape, driving innovation and efficiency in the industry while solidifying its position as a formidable contender in the market. As the company continues to expand its reach and offerings, its journey towards transformative impact in the foodtech sector is one to watch closely.
