Eggoz, an egg-focussed consumer durable brand has announced that the company has raised $3.5 million in Series-A funding led by Nabventures, a Venture Capital fund anchored by National Bank for Agriculture and Rural Development. The funding also saw participation from Avaana Capital, Rebright Partners, Bellerive Capital and angel investors Sanjiv Rangrass and Indresh Saluja, an official statement highlighted.
With this funding, the company is poised for explosive growth as it increases its brand footprint, launches egg-based value-added products, and enters new geographies.
Abhishek, Co-founder, Eggoz commented on this recent funding, and said, “Eggoz is a vertically integrated farm-to-consumer startup, building a brand in a $12B egg consumption market that is growing at 15% CAGR and 98% of total eggs are still consumed in unpackaged format. We, at Eggoz, are building the first nationwide farm to consumer brand that is centred around superior quality, high bioavailable nutrition and freshness. Over the past four years, we have developed our quality integration model and are now poised for rapid growth. I am thrilled to partner with NABVENTURES for the next phase of growth and our existing investors Avaana and Rebright for supporting us through thick and thin. I welcome all the investors to the Eggoz table as we scale the brand and platform to new heights and make Eggoz a household brand name.”
Anjali Bansal, Founder, Avaana Capital commented on this expansion, “We are seeing newer brands being created across consumer categories on the back of quality-linked premiumization and a large white space exists in the eggs category. Eggoz’ vertically integrated model enables them to offer superior quality produce to their consumers. We are excited to continue our journey with the team as they build the largest and most-loved eggs brand in the country.”
Eggoz founded by Abhishek Negi, Uttam Kumar, Aditya Singh who are alumni of IIT Kharagpur and Pankaj Pandey. The Gurgaon-based company procures and delivers fresh and chemical-free eggs from farm to retailers within 24 hours of laying.
Apart from its primary presence in Delhi-NCR, Eggoz is also present in major cities like Allahabad, Bhopal, Chandigarh, Indore, Patna and Ranchi.
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