Poshn, a burgeoning food-tech startup, has successfully raised $4 million in its pre-Series A funding round. Prime Venture Partners and Zephyr Peacock India led the investment, which includes $2 million in debt.
This round follows Poshn’s seed funding of $4 million in 2022, backed by Prime Venture Partners and Zephyr Peacock. The startup has strategically partnered with Banks & NBFCs for its debt requirements, with notable names such as ICICI Bank, Alteria Capital, UCIC, Northern Arc, Blacksoil, and Capsave.
The newly acquired funds are earmarked for further development of its solutions to address gaps in the food industry. Additionally, Poshn plans to utilize the capital to expand its business globally, focusing on Southeast Asian and Middle Eastern markets, involving imports and exports.
Established in 2020 by Bhuvensh Gupta and Shashank Singh, Poshn utilizes proprietary AI models to offer a unified platform for the wholesale buying and selling commodities in the highly fragmented processed commodity trade market.
While Poshn does not have direct competitors, it competes within specific segments such as Zetwerk (manufacturing), Infra.Market (construction), and Fashinza (apparel).
The company boasts a remarkable revenue growth, claiming a six-fold increase from FY22 to FY24. Since its inception, Poshn has expanded its presence to over 16 states in India.
This funding round validates Poshn’s innovative approach and underscores investor confidence in its potential to revolutionize the food-tech industry. With its focus on leveraging technology to streamline commodity trading processes, Poshn is well-positioned to make significant strides in the global market.
