ENA Sectors 2024-05-06 13:53:18 <p><span style="font-size:14px"><strong>New Delhi, May 6 (KNN)</strong> Poshn, a full-stack foodtech supply chain startup, has secured USD 6 million in a pre-Series A funding round. The financing comprised USD 4 million in equity and USD 2 million in debt, led by existing investors Prime Venture Partners and Zephyr Peacock India.</span></p> <p><span style="font-size:14px">This latest capital raise brings Poshn's total equity funding to around USD 8 million since its inception in 2020. The company had previously raised USD 4 million in a seed round from the same investors in 2022.</span></p> <p><span style="font-size:14px">Poshn's full-stack supply chain solution is geared towards facilitating growth for micro, small and medium enterprises (MSMEs) and institutional players in the food industry.</span></p> <p><span style="font-size:14px">The company's comprehensive offerings encompass demand consolidation across multiple trade channels, integrated financial services to provide working capital, partnerships with vendors for logistics and warehousing requirements, as well as software-as-a-service (SaaS) solutions.</span></p> <p><span style="font-size:14px">The start-up plans to utilise the funds to expand its suite of solutions and create the largest distribution network in the food sector.</span></p> <p><span style="font-size:14px">Additionally, Poshn will deploy the capital to foray into global markets through imports and exports of profitable food categories to Southeast Asian and Middle Eastern countries.</span></p> <p><span style="font-size:14px">Shashank Singh, Co-founder of Poshn, stated, With the trust of our investing partners and this fresh equity, we will aggressively integrate forward and backward in the supply chain and open foreign/export markets over the next 12 months while growing profitably. </span></p> <p><span style="font-size:14px">Prime Venture Partners commended Poshn's supply-first approach, stating, The company has meaningfully solved for the B2B food value chain and has always been bottom-line focused with a remarkable ROCE. </span></p> <p><span style="font-size:14px">With this pre-Series A funding, Poshn is well-positioned to expand its footprint in the global food supply chain market while maintaining profitability.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 37681 https://knnindia.co.in/news/newsdetails/sectors/foodtech-start-up-poshn-raises-usd-6-mn-for-global-expansion 2024-05-06 13:53:18 knnindia.co.in