POSHN, a Delhi based Food-tech startup has raised $6 million in a Pre-Series A round. Additionally, the startup secured $4 million in equity & $2 million in debt directed by Prime Venture Partners & Zephyr Peacock India.
POSHN will utilize this fresh funding from the investors to generate its solution stack. Concentrating on export & import categories in Southeast Asian and Middle Eastern nations, the startup plans to strengthen its presence in the global market.
In the year 2022, the POSHN raised $4 million in equity in a seed funding round directed by Prime Venture Partners & Zephyr Peacock. Addition to that, the startup has collaborated with several banks & NFBCs, ICICI Bank, Alteria Capital, UCIC, Northern Arc, Blacksoil, & Capsave to accomplish its debt requirements.
Established in 2020 by Bhuvnesh Gupta & Shashank Singh, Poshn functions as an extensive processed commodity & funding platform to improve the trading efficiency in the agricultural wholesale sector.
Commenting to this exclusive funding acquirement, the Co-Founder of Poshn, Shashank Singh says, “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 funds & equity, we aggressively integrate forward and backward in the chain and open foreign/export markets over the next 12 months while growing profitably”.
Similarly, Bhuvnesh Gupta, the Co-founder says, “Poshn boasts of best operational and capital efficiency in not just food tech but across B2B segments. With renewed capital and trust, we will continue to scale newer horizons with the same efficiency.”
Likewise, “Poshn is using technology to simplify and organize the fragmented food value chain in India. Both buyers and suppliers are adopting Poshn’s platform for convenient access to quality products at competitive prices. We are excited to partner with Shashank and Bhuvnesh,” said Mukul Gulati, Managing Partner, Zephyr Peacock India.
