Deep Rooted raises $12.5 Mn in series A round from IvyCap & Accel
The startup plans to expand its operations to cover major cities in South India over the next 12 months.
Deep Rooted, India’s leading farm-to-consumer (F2C) brand for fruits and vegetables, has announced that it has raised $12.5 million in Series A funding. The round was led by IvyCap Ventures with participation from existing investors including Accel, Omnivore, and Mayfield.
Deep Rooted provides urban consumers access to quality fruits and vegetables sourced directly from farmers and includes the largest network of greenhouses in India. Currently operating in Bengaluru, Hyderabad, and Chennai, Deep Rooted has become a one-stop shop for fresh produce, offering over 200 varieties of fruits and vegetables. Through its greenhouse network, Deep Rooted can deliver a year-round supply of residue-free produce, using a fraction of the water and land compared to conventional farms. Over the next 12 months, the startup plans to expand its operations to cover major cities in South India, strengthen its technology stack, and proactively hire across marketing, technology, and business functions.
Based in Bengaluru, Deep Rooted was co-founded in 2020 by Avinash B R, Gururaj Rao, Arvind Murali, and Santhosh Narasipura. “We are thrilled to partner with IvyCap as we expand across South India, working directly with farmers and delivering the freshest fruits and vegetables to urban consumers,” said Avinash BR on receiving the seed funding.
Ashish Wadhwani, Partner at IvyCap Ventures, commented, “Fruits & Vegetables (F&V) as a category is ripe for disruption. Deep Rooted, with its razor-sharp focus on F&V, has already showcased a sustainable and profitable view of the opportunity while delivering value to both the farmers and end consumers.” Prashanth Prakash, Partner at Accel, observed, “Consistent high quality and sustained availability are the two key factors in this category to win consumer trust and Deep Rooted delivers both with its end-to-end management of the supply chain. They have already built a substantial base of happy consumers and I look forward to seeing them scale this in South India & beyond.”
The startup plans to expand its operations