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Gurugram-based startup Eggoz has raised Series A funding of $3.5 million led by NABVENTURES (a VC fund anchored by National Bank for Agriculture and Rural Development: NABARD), with participation from Avaana Capital, Rebright Partners, Bellerive Capital and angel investors Sanjiv Rangrass and Indresh Saluja.
With this funding, Eggoz is poised for explosive growth as it increases its brand footprint, launches egg-based value-added products, and enters new geographies.
The egg production in India is concentrated in the Southern states. At the same time, there are hardly any scaled-up production facilities in the North, resulting in extended supply chains and multiple intermediaries, with eggs reaching consumers in the North after 4-7 days, lacking in freshness and quality. Eggoz said it plans to address this gap in the procurement and supply of eggs in North India.