Total amount raised
$17.2 Millions
Latest funding date
10/1/2024
Location
Eggoz has successfully raised $2,618,924 in a Series B funding round, attracting investment from Artek and five other investors. The company specializes in offering fresh, chemical-free eggs sourced from fully integrated farmers.
Keep reading to explore the intricacies of Eggoz's fundraising journey and the investors backing this innovative platform.
What Is Eggoz?
Eggoz, founded in 2017, is based in Gurgaon, Haryana, India. The company specializes in producing and selling fresh, chemical-free eggs sourced from fully integrated farmers. Their product range includes white, brown, and Nutra Plus eggs, as well as pre-cooked and frozen egg-based products.
The company was founded by Abhishek Negi, Aditya Singh, Pankaj Pandey, and Uttam Kumar. Eggoz has developed a unique supply chain to ensure that eggs are delivered from lay to table within 36 hours, maintaining optimal freshness and quality.
With a team of 101-250 employees, Eggoz continues to innovate in the egg industry, offering enriched variants of eggs through proprietary nutritional engineering. Their commitment to quality and freshness has made them a notable player in the market.
How Much Funding Has Eggoz Raised?
- Angel Round
- Amount Raised: ₹12M
- Date: June 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and establish initial market presence.
- Seed Round
- Amount Raised: ₹22M
- Date: November 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale production and expand distribution channels.
- Seed Round
- Amount Raised: ₹25M
- Date: May 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance supply chain efficiency and increase market reach.
- Seed Round
- Amount Raised: ₹110M
- Date: November 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and improve product offerings.
- Debt Financing
- Amount Raised: Not publicly disclosed
- Date: July 2021
- Lead Investors: Caspian Debt
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support working capital needs and operational expenses.
- Series A
- Amount Raised: $3.5M
- Date: December 2021
- Lead Investors: Nabventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market presence and enhance product development.
- Series B
- Amount Raised: $8.8M
- Date: December 2022
- Lead Investors: IvyCap Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand business footprint and grow the team.
- Series B
- Amount Raised: $2.6M
- Date: October 2024
- Lead Investors: Artek
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and enhance market reach.
Total Amount Raised: $15.4M + ₹169M. Current Valuation: Not publicly disclosed.
Key Investors
- IvyCap Ventures
- Details: IvyCap Ventures is a Mumbai-based venture capital firm that focuses on investing in early to growth-stage companies. They leverage their extensive network of IIT alumni to support their portfolio companies.
- Investment Focus Areas: Technology, consumer products, healthcare.
- Notable Investments: Purplle, Bluestone, Bewakoof.
- NABVENTURES
- Details: NABVENTURES is a venture capital fund anchored by the National Bank for Agriculture and Rural Development (NABARD). They focus on supporting startups in the agriculture and rural development sectors.
- Investment Focus Areas: Agriculture, rural development, food processing.
- Notable Investments: Not publicly disclosed.
- Avaana Capital
- Details: Avaana Capital is a venture capital firm that invests in innovative and sustainable businesses. They aim to support companies that have a positive impact on society and the environment.
- Investment Focus Areas: Sustainability, technology, healthcare.
- Notable Investments: Not publicly disclosed.
- Rebright Partners
- Details: Rebright Partners is a venture capital firm that invests in early-stage technology companies. They have a strong presence in Asia and focus on supporting startups with high growth potential.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Not publicly disclosed.
- Caspian Debt
- Details: Caspian Debt provides debt financing to high-impact businesses in India. They focus on supporting companies that have a positive social and environmental impact.
- Investment Focus Areas: Agriculture, healthcare, financial inclusion.
- Notable Investments: Not publicly disclosed.
What's Next for Eggoz?
Eggoz is poised to capitalize on the growing demand for fresh, chemical-free eggs in India. With a market potential driven by a population of 1.4 billion, the company aims to expand its footprint and enhance its supply chain. The recent $8.8 million Series B funding will support these efforts, allowing Eggoz to scale operations and hire additional talent.
Future fundraising opportunities seem promising, with potential Series C rounds on the horizon to further bolster market reach. However, challenges such as maintaining quality control, managing operational costs, and navigating competition from other premium brands could pose hurdles. Despite these challenges, Eggoz's innovative approach and strong investor backing position it well for continued growth.
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