F2C brand Deep Rooted raises $12.5mn in Series A round from IvyCap and others
The round was led by IvyCap Ventures with participation from existing investors including Accel, Omnivore, and Mayfield. The start-up plans to expand its operations to cover major cities in South India, strengthen its technology stack, and proactively hire across marketing, technology and business functions.
Deep Rooted, India's leading farm-to-consumer (F2C) brand for fruits and vegetables (F&V), has announced that it has raised $12.5mn in Series A funding. The round was led by IvyCap Ventures with participation from existing investors including Accel, Omnivore, and Mayfield.
The F2C brand provides urban consumers access to quality fruits and vegetables sourced directly from farmers and includes the largest network of greenhouses in India. Currently operating in Bengaluru, Hyderabad, and Chennai, Deep Rooted has become a one-stop shop for fresh produce, offering over 200 varieties of fruits and vegetables.
Through its greenhouse network, it can deliver a year-round supply of fresh, flavourful, residue-free produce, using a fraction of the water and land compared to conventional farms. With health and wellness at the core of one’s living, consumers today are increasingly conscious of the choices they are making even in a category like F&V.
By exclusively focusing on fresh produce, Deep Rooted has successfully made inroads into being the No. 1 choice for consumers for all of their fresh produce needs. Over the next 12 months, the start-up plans to expand its operations to cover major cities in South India, strengthen its technology stack, and proactively hire across marketing, technology and business functions.
Based in Bengaluru, Deep Rooted was co-founded in 2020 by Avinash BR, Gururaj Rao, Arvind Murali and Santhosh Narasipura.
Avinash BR, Co-Founder of Deep Rooted, said, “We are thrilled to partner with IvyCap as we expand across South India, working directly with farmers and delivering the freshest fruits and vegetables to urban consumers.”
Ashish Wadhwani, Partner at IvyCap Ventures, commented, “F&V as a category is ripe for disruption. Deep Rooted, with its razor-sharp focus on F&V, has already showcased a sustainable and profitable view of the opportunity while delivering value to both the farmers and end consumers. We're excited to be a part of their growth journey.”
Prashanth Prakash, Partner at Accel, observed, “Consistent high quality and sustained availability are the two key factors in this category to win consumer trust and Deep Rooted delivers both with its end-to-end management of the supply chain. They have already built a substantial base of happy consumers and I look forward to seeing them scale this in South India and beyond.”
Founded in 2011, IvyCap Ventures is one of India's leading homegrown venture capital (VC) funds powering the Indian start-up ecosystem. Accel is a leading VC firm that invests in people and their companies from the earliest days through all phases of private company growth.