Prosus Ventures Leads $25M Series B Financing of Vegrow
Gunderson Dettmer represented client Prosus Ventures, a venture capital firm investing in internet and technology companies, as it led the $25 million Series B financing of Vegrow, India’s leading B2B marketplace for fruits. Matrix Partners India, Elevation Capital, Lightspeed, Ankur Capital and prominent angel and agri veteran Sanjiv Rangrass also participated in the round.
In the announcement of the transaction, co-founder at Vegrow Mrudhukar Batchu said, “Building systems and capabilities which can scale is the core tech vision at Vegrow. Today, we have a dynamic understanding of customer quality expectations across 100+ markets and a real-time view of $500 MM worth of produce across farmlands. Our tech helps in matchmaking by the codification of customer quality, building future farm inventory, deskill supply chain and crowdsourcing market intelligence (price, quality and volume). Our system predicts real-time demand and pricing across markets for 15+ fruits. Our Fresh OS Velynk ties all of this together to ensure an agile and reliable supply chain.”
The Gunderson deal team was led by Jonathan Pentzien, and included Kinnari Sahita, Cheryl Lau, Kamna Kumar and Andre Lum.