Eggoz, a brand of fresh and chemical-free eggs has announced that the company has raised $3.5 million in Series-A funding led by Nabventure, a venture growth equity fund that invests in agriculture, food, rural businesses, and Agri/rural financial service.
The funding also saw participation from Avaana Capital, Rebright Partners, Bellerive Capital, and angel investors Sanjiv Rangrass and Indresh Saluja.
With this funding, the company plans to use the funds for increasing its brand footprints, egg-based products and entering new geographics
Abhishek, Co-founder, Eggoz commented on this recent funding, and said, “Eggoz is a vertically integrated farm-to-consumer startup, building a brand in a $12B egg consumption market that is growing at 15% CAGR and 98% of total eggs are still consumed in unpackaged format. We, at Eggoz, are building the first nationwide farm-to-consumer brand that is centered around superior quality, high bioavailable nutrition, and freshness. Over the past four years, we have developed our quality integration model and are now poised for rapid growth. I am thrilled to partner with NABVENTURES for the next phase of growth and our existing investors Avaana and Rebright for supporting us through thick and thin. I welcome all the investors to the Eggoz table as we scale the brand and platform to new heights and make Eggoz a household brand name.”
“We in NABVENTURES believe that this initiative of Eggoz will bring egg production closer to the consumption centres in North India while augmenting farmers’ income. We shall be working closely with Eggoz to deepen their penetration in the rural areas amongst farmers and other community groups.” – Gills John, Vice President, NABVENTURES
Eggoz, Founded by Abhishek Negi, Uttam Kumar, Aditya Singh who are alumni of IIT Kharagpur and Pankaj Pandey, Gurgaon-based Eggoz today is India’s only focused consumer brand play in eggs, which procures and delivers fresh and chemical-free eggs from farm to retailers within 24 hours of laying.
Besides its primary presence in Delhi-NCR, Eggoz is also present in major cities like Allahabad, Bhopal, Chandigarh, Indore, Patna and Ranchi.
The brand claims to work closely with farmers with an integrated model, ensuring 100% natural feed to birds and deploying IoT (Internet of things) and farmer app tech platforms.
