Omnivore and Orios Venture Partners co-led the funding round for food processing startup Suite42. Venture Capital (VC) firms Titan Capital, All in Capital, Pointone Capital, and Udaan’s Sujeet Kumar also participated in the round.
“Suite42 is building a platform to digitise the backend of a food brand, from procurement to packaging. The team is targeting a massive TAM and managing the entire supply chain for the brand,” said Vinit Bhansali, Senior Vice President of Orios Venture Partners.
Based in Bengaluru, Suite42 was founded in 2022 by Rahul Ratan, Ramakrishna Cheruku, Chethan S, and Shriram S. It Intends to use the funds to recruit new employees, launch raw material financing, and test cross-border trade (exports). In the next 18 months, the startup hopes to work with a variety of B2B clients, including ecommerce, direct-to-consumer brands, FMCG (fast moving consumer goods) brands, and 2,000 modern trade outlets in multiple cities.
Jinesh Shah, Managing Partner of Omnivore, stated, “The sector is highly unorganised with deep inefficiencies. Approximately 5 per cent of India’s agricultural output is processed, preventing the realisation of profits across the value chains. We are excited to see Suite42 revitalise the food processing space in India.”
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