Vegrow

Technology platform functions that let buyers source graded produce.

Farmer-side services meant to raise and stabilize farmer income.

Produce-supply side of the marketplace.

Buyer side of the marketplace.

Vegrow offers instant digital payment solutions to the farmers it sources from, shortening receivable cycles and improving their economic standing.

Beyond one-off produce purchases, Vegrow offers farmers advisory support aimed at improving yields, building a longer-term relationship on the supply side.

After matching supply to demand, Vegrow sells produce onward through multiple downstream channels — wholesale marketplaces (mandis), exports, wholesalers, semi-wholesalers, modern trade and retailers.

Vegrow's own platform takes a multi-channel approach to expand market access, connecting sourced produce with a diverse range of buyers including exporters, retailers and processors.

Vegrow aggregates orders from a diverse range of buyers first, to establish a clear read on market demand before sourcing.

Using its technology, Vegrow identifies the right farms so the produce's grade mix precisely matches the aggregated customer orders.

Automated systems handle grading and sorting to ensure quality standards, followed by efficient packing and dispatch to buyers.

Vegrow also provides ancillary services — loading, unloading, packing, storage and warehousing of agricultural produce — for both farmers and customers, serving domestic and international markets.

A strong network of farmers across India gives Vegrow consistent, year-round fruit supply, overcoming geographical/seasonal limitations — a core sourcing asset.

Vegrow's core resource is its technology platform, used for farm discovery, quality profiling and market intelligence, which underpins its sourcing and matchmaking operations.

Vegrow has raised total funding of $86.50 million across 4 funding rounds, giving it the financial resources to fund inventory purchases and expansion.

Institutional backers across seed through Series C rounds.

Vegrow generates revenue by facilitating B2B transactions in which buyers purchase assorted fruits through the platform, earning a commission — a percentage of each transaction's value.

Vegrow's topline comes from selling sourced produce onward to its buyer channels; gross revenue reached ₹361 crore in FY23, up 3.5x year-on-year from ₹100.8 crore in FY22.

Purchases of stock (produce procurement, net of inventory changes) were Vegrow's single largest cost line, at 62.6% of total costs in FY23.

Transportation was Vegrow's second major cost, jumping 3.3x year-on-year to ₹55 crore in FY23.

As Vegrow scaled headcount to support growth, employee benefit expenses spiked 3.5x year-on-year to ₹47.7 crore in FY23.

Total expenditure soared 3.6x to ₹481.6 crore in FY23 (from ₹132.6 crore in FY22); on a unit level Vegrow spent ₹1.33 to earn every rupee of revenue that year.