Mumbai based Startup Truce, which runs a fresh farm vegetables and fruits supply chain venture has raised 2.5 Crores ($370,000) angel funding from the founders of Inmobi and Snapdeal. Truce co-founder Saurabh Jain confirmed that the firm has raised funding but did not talk on about the details.
The founders who invested are Kunal Bahl and Rohit Bansal (Snapdeal, co-founders), Anupam Mittal (Shaadi.com, founder), Amit Gupta (InMobi, co-founder), Utsav Somani and Neeraj Goenka of Mumbai Angels besides Farooq Adam Mukadam of Shopsense Retail Technologies were among the group of investors.
Truce was launched last year by Kedar Gokhale and Jain. Gokhale, an alumnus of IIT Bombay. Truce procures fruits and vegetables from farmers across Maharashtra and sells them to mid-large sized restaurant and hotel chains in Mumbai.
Startups like Truce aim to cut off the myriad middleman and supply fresh produce to the customer (in this case hospitality firms or B2B clients) faster with lesser mark-up on what farmers sell it for.