Poshn Raises USD 6 Million in Funding for Foodtech Expansion
May 06, 2024 14:15
Foodtech startup Poshn secures USD 6 million in pre-series A funding to expand its innovative solutions and enter global markets. The company aims to simplify the food supply chain and achieve significant growth.
New Delhi, May 6 (PTI) Foodtech startup Poshn on Monday it has raised USD 4 million in equity and USD 2 million in debt in pre-series A funding round led by Prime venture partners and Zephyr Peacock India.
"Poshn plans to use the fresh funds to build further its innovative stack of solutions that address the gaps in the system. Besides, it will use the funds to expand the business to global markets with imports/ exports in profitable categories to Southeast Asian and Middle Eastern countries," the company said in a statement.
Poshn's full-stack approach to simplify the food supply chain will help the startup grow 5x in revenue in the next two years and become PAT-positive in the next 12 months, the statement said.
Earlier in 2022, the startup raised USD 4 million in equity in a seed round with Prime Venture Partner and Zephyr Peacock.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.