Foodtech startups often generate revenue through delivery fees, subscription models, or commissions from partnering restaurants.
Poshn, is a full-stack foodtech supply chain startup, raised $4 million in equity and $2 million in debt in its pre-series A funding round led by existing investors Prime Venture Partners and Zephyr Peacock India.
Poshn was founded in 2020 by Bhuvensh Gupta and Shashank Singh. In 2022, the startup had raised $4 million in equity in a seed round from Prime Venture Partners and Zephyr Peacock.
Business Model
Foodtech Poshn leverages proprietary AI models to provide a single platform for wholesale buying and selling of commodities in a highly fragmented processed commodity trade market.
The company does not have direct competitors in food tech space, but competes in specific segments such as Zetwerk (manufacturing), Infra.Market (construction) and Fashinza (apparels).
Fund usage:
The fresh proceeds Poshn received, will be used to build further its stack of solutions that address the gaps in the system.
Poshn will use the funds to expand the business to global markets with imports and exports in Southeast Asian and Middle Eastern countries.
The firm’s revenue claims to have grown six-fold from FY22 to FY24. Since its inception, the startup has marked a presence in more than 16 states in India.
For Start Ups like Poshn acquiring new customers while retaining existing ones is crucial. High customer acquisition costs can impact profitability, so startups need a balance.
(Image courtesy: snackfax)
