Agritech Start-up Eggoz raises 25 million in Round 2 Seed Funding

Eggoz is an Agritech startup who works with egg producers. They have raised seed funding of Rs 2.5 crore or 25 million from its angel investors. This is the amount raised in Round 2. Earlier, the company raised Rs 1.2 crore or 12 million in the first round. They will use this amount to grow and expand the scope of their operations.

What is Eggoz?

Eggoz was founded by Abhishek Negi, Uttam Kumar, Aditya Singh and Pankaj Pandey, in December 2017. This startup is a full-stack egg producer of nutrition-rich eggs. They operate a network of poultry farms in Bihar and Madhya Pradesh. They use cutting-edge nutritional engineering and technology to produce eggs. Using their technology, farmers can rear flock sizes starting from 500 birds. The initial investment and land requirements are less. With these novel efforts, the startup claims that it is working in line with the government's intention to double farmers’ income to make villages self-reliant for nutrition and livelihood.

Eggoz works with farmers at several locations in north India, using nutritional engineering and technology. Kumar said:

Eggoz poultry farming is one of the most profitable and stable businesses to generate allied income for many marginal farmers as well as to fulfil protein-enriched food requirement of the growing population.

Currently, Eggoz has sold over two crore eggs and has more than 1,00,000 birds under its management.

Who are the Investors in Eggoz?

Investors who participated in Round 2:

• Tracxn Labs
• Angellist
• Tri-Deep Capital, founders of Letstransport, and angel investors.

Existing investors include:

• Narendra Sankar
• Sunil Mishra
• Vishal Sharma

They also participated in this round. Further, on investing in the correct economic situation, Abhishek Goyal, Founder of Tracxn Labs, said:

India's egg supply chain is largely unorganised. There is an opportunity for a player to implement best practices in production and create a trustworthy consumer brand. We were quite impressed by the founding team passion to solve this market.

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