Agritech fruit marketplace VeGrow has raised a total of US$25 million through its series B funding round led by Prosus Ventures.
The round also saw participation of existing investors Matrix Partners India, Elevation Capital, Lightspeed Venture Partners and Ankur Capital.
Sahai & Co. represented VeGrow (Chifu Agritech Private Limited) through a team consisting of Savyasachi K. Sahai (Partner) and Kushagra Aman (Associate).
Gunderson Dettmer, Singapore represented Prosus Ventures with a team consisting of Jonathan Pentzien (Partner), Kinnari Sahita (Corporate Associate), Kamna Kumar (Corporate Associate), Cheryl Lau (Corporate Associate), and Andre Lum (Associate).
IndusLaw represented Naspers Ventures (“Prosus”), LightSpeed and Elevation Capital.
Lightspeed India Partners and Elevation Capital were advised by Manish Gupta (Partner) along with Deepti Varma (Senior Associate), and Shivam Gupta (Associate)
Prosus was advised by Nikita Goyal (Partner) along with Vivek Tiwari (Associate)
DMD Advocates represented Matrix Partners on the deal with a team led by Sumit Sinha (Partner) and Ashima Dewan (Principal Associate)
J Sagar Associates represented Ankur Capital through Aditya Rathi (Partner)
The company aims to use the influx of capital to expand their geographic presence and hiring, along with further increasing their technology stack. The company is expected to have annualized revenue run rate of $200 million by end of the current financial year.