Agri Tech Startup and Egg Producer Eggoz has raised Rs. 1.2 crore funding from a group of angel investors including Narendra Sankar, Sunil Mishra, Vishal Sharma, Anurag Jhanwar and Mohini Jhanwar.
The company has plans to use fresh funds in business expansion across states of Bihar and Madhya Pradesh. Eggoz is also planning to use the capital in setting up a company-owned farm in Nalanda, Bihar which will act as a model farm to attract clients, and for research and development.
Talking of the recent funding development, Mr Pankaj Pandey, Co-founder of Eggoz, said,
India has a “serious” hunger problem and ranks 100th out of 119 countries on the global hunger. The egg is a wholesome nutritious food which is available at affordable price. We saw huge gaps in the market with Southern states producing close to 70% of India’s total production. So, we started Eggoz to revolutionise egg industry and contribute to the eradication of malnutrition by bringing fresh & nutrition-rich eggs to everyone.
Eggoz is a full stack egg producer that uses cutting-edge technology to produce high quality and nutrition-rich eggs. It runs a network of multiple farms at various locations and has total bird capacity of 1,00,000 hen with 65,000 hen operational farms.