Key Points:
- Madras Mandi, a fresh produce startup, secures Rs 3 crore funding from Klub, a revenue-based financing platform, to expand its direct-to-consumer (D2C) services within Chennai.
- The funding will be used to enhance delivery services and establish 20 new stores by the end of 2024.
- Madras Mandi specializes in curating unique farm experiences and sourcing high-quality fruits and vegetables from top farms in South India.
- The startup serves both business-to-business (B2B) and D2C sectors, impacting the lives of over 5,000 farmers and supplying produce to restaurants.
- Prashanth Vasan, Madras Mandi’s CEO, expresses gratitude towards Klub for their support and emphasizes the importance of their partnership.
Madras Mandi, a burgeoning fresh produce startup, has recently secured Rs 3 crore in funding from Klub, a revenue-based financing platform. With this capital injection, the company aims to bolster its direct-to-consumer (D2C) segment, enhancing its reach and services within Chennai.
The funding will be strategically allocated towards expanding Madras Mandi’s delivery services and establishing 20 new stores by the end of 2024, further solidifying its presence in the market.
So, what exactly does Madras Mandi do? The startup curates unique farm experiences and hosts inclusive events such as “Kootanchoru.” It prides itself on sourcing high-quality fruits and vegetables from top farms in South India, catering to discerning consumers both in the business-to-business (B2B) and D2C sectors.
Prashanth Vasan, co-founder and CEO of Madras Mandi, expressed gratitude towards Klub for their instrumental role in the company’s growth journey. Vasan emphasized Klub’s exceptional service and timely support, stating, “Their exceptional service and prompt timelines have been instrumental, and I’ve gained invaluable insights into fundraising through our partnership.”
In addition to its commitment to quality produce, Madras Mandi is dedicated to sustainability initiatives, employing eco-friendly packaging for deliveries to reduce its carbon footprint. The startup’s tech-driven supply chain management system has also proven highly efficient, boasting a remarkably low wastage rate of less than 5%, far surpassing industry standards.
Looking ahead, Madras Mandi is poised for further expansion, aiming to establish 20 new stores by the end of 2024. Sudharshan Venkatakrishnan, Senior Vice President at Klub, commended Madras Mandi’s leadership in the burgeoning fresh produce market. He remarked, “Madras Mandi reigns as the undisputed leader in Chennai, and we are thrilled to endorse their vision as they continue to lead the charge in this flourishing market.”
In a dynamic landscape where consumers prioritize quality and sustainability, Madras Mandi’s commitment to excellence and innovation positions it as a frontrunner in the fresh produce industry, with Klub’s support propelling it towards even greater success.
