Omnivore and Orios Venture Partners co-led the funding round in 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.
Suite42 plans to deploy the funding for talent acquisition, launching raw material financing, and experimenting cross-border trade (exports). In the next 18 months, the food brand aims to work with various B2B clients, including ecommerce, D2Cs, FMCG brands, and about 2,000 modern trade outlets across multiple cities.
Jinesh Shah, Managing Partner of Omnivore stated, “The sector is highly unorganised with deep inefficiencies. Less than 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.”