ImpactAlpha, February 9 — Chennai-based TenderCuts aims to provide high quality meat and fish to customers in India.
The company has raised $15 million in an investment round led by Paragon Ventures and NABVENTURES, an agri-tech venture fund backed by the government-owned National Bank for Agriculture and Rural Development.
The investment will help TenderCuts source meat, poultry and fish directly from local fishermen and farmers, NABVENTURES’ Rajesh Ranjan told ImpactAlpha. “This will improve producers’ income, eliminate the margins of intermediaries and lower the price for customers,” said Ranjan.
India’s agtech investing scene has seen an explosion of deals in recent weeks (see, “Digitization of smallholder farming draws investors to Indian agtech startups“). Last week AgNext Technologies raised $2 million to help Indian farming businesses improve data, performance and transparency in the agriculture value chain.