Agritech startup Eggoz raises $350k (around Rs 2.5 crore) funding from investors to fund its expansion plans.
Founded in December 2017, the startup is a full-stack egg producer of nutrition-rich eggs. It operates a network of poultry farms in Indian states like Bihar and Madhya Pradesh.
Eggoz has raised $350k as part of its seed funding. It had earlier secured $200k from a clutch of angel investors.
The seed funding round saw participation of investors like Tracxn Labs, Angellist, Tri-Deep Capital, founders of Letstransport, and angel investors along with existing investors Narendra Sankar, Sunil Mishra, and Vishal Sharma, the company said.
Eggoz has so far sold over 20 million eggs and has more than 100k birds under management. It has developed a new farming model for small-scale commercial egg farming.
With Eggoz’s technology and integration platform, farmers can rear flock sizes starting from 500 birds at affordable initial investment and less land requirement, said Uttam Kumar, founder of the company.
With these efforts, Eggoz poultry farming is one of the most profitable and stable businesses to generate allied income for many marginal farmers as well as to fulfill protein-enriched food requirement of the growing population, Kumar added.
Eggoz works with farmers at several locations in north India, using nutritional engineering and technology.