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VegFru secures undisclosed funding from Wingify


Software firm, Wingify, has made an undisclosed amount of investment in VegFru, an online B2B marketplace that connects small and large farmers with suppliers in fruit and vegetable (F&V) trading. The Delhi-based company will use the fresh capital to make its website available in Hindi and other regional languages, and to develop an Android app.

Any farmer can register with VegFru to list their produce online; it claims to connect them with retailers, large consumers including restaurants/hotel chains, exporters/importers, and institutions besides mainstream wholesalers.

The company also claims to deliver farm produce to buyers from India and abroad by connecting them with local farmers, directly through its online platform. VegFru said that it has tied up with various transportation, packaging and export advisory firms to arrange logistics for the supply to be delivered.

Other than trading, VegFru also offers consultancy services in crop production, and other technical agricultural advisory services; supply of necessary equipment and machinery used in farming; quality control assistance; and dedicated cold storage spaces for fruits and vegetables.

Ninjacart B2B marketplace: A similar B2B service provider in the Fruits and Vegetable market is Ninjacart, which secured $3 million last month from a clutch of VC firms including Accel Partners and Qualcomm Ventures, among others. The Bangalore-based startup connects farmers and brands to independent retailers.

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Currently the company helps supermarkets, kirana stores and standalone shops to buy fresh fruits/vegetables, staples and FMCG from farmers and independent brands. All services are offered through their online portal, and through an Android app

Other developments from B2B buying & selling:

India allowed 100% FDI in B2B investments in 2012 along with some restrictions. Following the policy changes, several startups appeared in India within the B2B buying/selling space, which also saw active investments from both individual investors and venture capitalists.

-Last month, Noida-based B2B marketplace Indiamart raised an undisclosed amount in Series C funding led by Amadeus Capital. At that time, the company said the fresh funds will be used in in expanding Tolexo—its new online marketplace for businesses; as well as in financing SMEs, and in the payments space.

– In February, Gurgaon-based OfBusiness, an online marketplace for business-to-business commerce, raised $5 million (~Rs 34 crore) in a Series-A funding round led by Matrix Partners India. Entrepreneurs and angels investors including Apoorva Patni, Bhavish Aggarwal, and Prashant Malik also participated in the round.

-In the same month, E-commerce startup Moglix specializing in B2B procurement of industrial products, recently secured an undisclosed amount of angel investment from Ratan Tata, in February. The company specializes in B2B procurement of industrial products including MRO, Fasteners and Industrial Electricals.

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Power2SME, is another online buying club for small and medium enterprises that raised a fresh round of funding led by Infosys co-founder Nandan Nilekani in January, and from existing investors Accel Partners, Kalaari Capital and Inventus Capital.

– In January, Industrybuying, an online marketplace for industrial supplies and goods, raised Rs 12 crore in a round of funding from Trifecta Capital. It also raised an undisclosed amount of funding from TVS Group and Murugappa Group in December last year.

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