Matrix-backed agritech firm Vegrow raises $25 million in Series B funding led by Prosus

Matrix Partners-backed business-to-business (B2B) agritech company Vegrow has raised $25 million as part of its Series B funding round led by Prosus Ventures, the company said in a statement on July 11.Existing investors Matrix Partners India, Elevation Capital, Lightspeed India, Ankur Capital and angel investor Sanjiv Rangrass also participated in the funding round, the company said.Vegrow will use the funds for installing more demand centers and will expand into more cities. Jain also said that the company raised the funds at a post-money valuation of $170-$180 million.Founded in 2020, Vegrow offers a B2B tech platform for fruits and connects wholesalers and traders with farmers. On the famers side, we ensure a better realization through right matchmaking, fair and transparent business practices, and value chain innovations.Praneeth Kumar, co-founder Vegrow.Vegrow said that it digitally connects farmers across 400 production pockets in India and helps them align with market expectations and get better yield for their produce. "The fruits industries being historically unorganised, fragmented and inefficient, is poised for similar tech-led disruption. Vegrow has catapulted to pole position by serving pan-India demand through its focus on scale and technology," Sharma added.