Latest news with #AbhishekNegi
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Business Standard
5 hours ago
- Business
- Business Standard
Eggoz raises $20 mn in series-C funding to scale India's branded egg biz
Indian egg supply chain startup Eggoz has secured $20 million in Series C funding, as the company looks to capitalise on growing consumer demand for branded, traceable food products in a traditionally unorganised market. The round was led by private equity firm Gaja Capital, with participation from existing investors including IvyCap Ventures, Rebright Partners, Avaana Capital, Nabventures, and Merisis Opportunities Fund. Individual investors such as Arvind Thakur, S. Ramadorai, Artek Chemicals, and Blue Dot Capital also joined the round. The company plans to use the funding to strengthen its presence in current markets, expand to new cities, and invest in technology and supply chain infrastructure. Founded in 2017 by IIT Kharagpur graduates Abhishek Negi, Aditya Singh, and Uttam Kumar, Eggoz operates a tech-enabled, asset-light model that sources eggs directly from farmers. The company claims to have achieved a 76 per cent year-on-year revenue growth, reaching Rs 130 crore in FY25, up from Rs 74 crore in FY24. In Q4FY25, Eggoz says it achieved earnings before interest, taxes, depreciation, and amortisation (Ebitda) breakeven and a peak brand annual recurring revenue of Rs 200 crore. The egg market in India remains largely unorganised, with industry estimates suggesting over 90 per cent of the country's egg production is sold through traditional, unbranded channels. This presents both an opportunity and challenge for startups like Eggoz. Eggoz emphasizes safety and traceability, subjecting its products to what it calls 11 hygiene checks and using herbal feed. The company has positioned itself as a supplier on India's quick commerce and ecommerce platforms, though it faces competition from both traditional distributors and other branded egg companies tapping the market. 'We are entering our next growth phase. At Eggoz, we're not just building a brand, we're redefining a category that reaches most Indian households,' said Abhishek Negi, co-founder and CEO. 'Over 95 per cent of eggs in India are sold loose, often lacking basic hygiene and quality.' The company has expanded beyond basic eggs to offer value-added products including egg momos and burger patties, targeting urban consumers seeking convenient protein options. Currently available in over 11 major cities, including Delhi NCR, Bengaluru, Mumbai, Hyderabad, Chennai, and Pune, Eggoz is competing for a share of what industry reports estimate as a $12 billion Indian egg market. 'Eggoz is solving a critical gap in India's protein ecosystem with a scalable, tech-first approach,' said Gopal Jain, CEO and managing director at Gaja Capital. Industry analysts note that while the branded egg segment shows promise, companies must navigate complex supply chain logistics, maintain quality standards, and achieve scale to remain competitive against low-cost traditional suppliers. 'With India producing over 140 billion eggs annually, the need for quality and traceability in this essential category is more important than ever,' said Vikram Gupta, founder and managing partner at IvyCap Ventures.
Time of India
7 hours ago
- Business
- Time of India
Eggoz raises $20 million funding to expand branded egg business
Representative Image (AI-generated) BENGALURU: Branded egg producer Eggoz has raised $20 million in a Series C round led by Gaja Capital, with participation from existing investors including IvyCap Ventures, Rebright Partners, Avaana Capital, Nabventures, Merisis Opportunities Fund, Arvind Thakur, S Ramadorai, Artek Chemicals and Blue Dot Capital. The company, founded in 2017 by IIT Kharagpur alumni Abhishek Negi, Aditya Singh and Uttam Kumar, said the funding will be used to strengthen its market presence, expand to new cities, and invest in supply chain and technology infrastructure. Eggoz operates a tech-enabled, asset-light model integrating directly with farmers to ensure traceability and food safety across its supply chain. The company reported a 76% year-on-year growth in revenue, with net cash revenue reaching Rs 130 crore in FY25, up from Rs 74 crore in FY24. It achieved peak brand annual recurring revenue of Rs 200 crore and broke even on Ebitda in Q4 FY25. The Gurugram-based company's branded eggs are currently available in 11 major Indian cities, including Delhi NCR, Bengaluru, Mumbai, Hyderabad and Chennai, and are sold via e-commerce and quick commerce platforms. According to the company, more than 95% of eggs sold in India remain unbranded and lack basic hygiene checks. Eggoz aims to address this gap by offering eggs that undergo over 11 safety checks and are produced using herbal hen feed. It has also introduced a line of egg-based snacks, including momos and burger patties, catering to urban demand for high-protein, ready-to-cook food. 'Over 140 billion eggs are produced annually in India, yet quality remains inconsistent,' said Abhishek Negi, co-founder and CEO. 'We're building a trusted, scalable brand in a largely unorganised market while improving farmer incomes and consumer access to clean protein.' Gopal Jain, managing director at Gaja Capital, said Eggoz is 'well-positioned to lead the next wave of growth in India's food and nutrition sector' through its vertically integrated model and category-first branding. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
14 hours ago
- Business
- Time of India
Eggoz raises $20 million funding led by Gaja Capital
Egg brand Eggoz has raised $20 million (about Rs 167 crore) in fresh capital, with mid-market private-equity firm Gaja Capital anchoring the round. Key existing backers IvyCap Ventures, Rebright Partners, Avaana Capital, Merisis Opportunities Fund, Nabventures, Blue Dot Capital and Artek Chemicals, have also participated in the round, people familiar with the deal told company will be using the funds to penetrate deeper into the current markets in which it is already present, which includes major cities in North India, Bangalore, Hyderabad and Chennai in South India and Mumbai and Pune in the it will expand its business to East India in the coming months. 'The fund utilisation will be primarily to invest in growth which is to expand market footprint,' a source quoted above latest round brings the total fund raised by the Gurugram-based company to over $29 million. In 2022, Eggoz had raised $8.8 million in Series B funding, which was a mix of primary investment and secondary share sale, led by Mumbai-based IvyCap the financial year 2024-25, Eggoz reported a net revenue of Rs 130 crore which grew 76% year-on-year from Rs 74 crore reported in FY24. In the March quarter of FY25, the company achieved an Ebitda breakeven. This net revenue refers to the total revenue generated for the year after considering distribution margin, discounts given to customers, commissions to quick commerce platforms, was founded in 2017 by IIT Kharagpur alumni Abhishek Negi, Aditya Singh, and Uttam Kumar, the company has a presence in 11 cities. The brand sells premium eggs online , especially quick commerce, and offline through organised trade channels. In the last two years, the company has been growing fast on quick commerce platforms, according to the source quoted earlier."Eggoz has built mutual quality check guidelines with the quick commerce platforms to ensure the hygiene is maintained and the quality of the eggs are not compromised," the person cited above added, when asked about the ongoing hygiene issues in quick commerce dark stores in various this segment, other key players include Temasek-backed Licious, Coimbatore-based Suguna Chicken and Temasek and Venturi Partners-backed Country Delight's private label eggs. Bengaluru-based Licious, which also sells meat and seafood, is seeking to become profitable as it prepares to list in 2026. The firm is targeting a valuation of more than $2 billion in the listing.
Economic Times
14 hours ago
- Business
- Economic Times
Eggoz raises $20 million funding led by Gaja Capital
iStock Egg brand Eggoz has raised $20 million (about Rs 167 crore) in fresh capital, with mid-market private-equity firm Gaja Capital anchoring the round. Key existing backers IvyCap Ventures, Rebright Partners, Avaana Capital, Merisis Opportunities Fund, Nabventures, Blue Dot Capital and Artek Chemicals, have also participated in the round, people familiar with the deal told company will be using the funds to penetrate deeper into the current markets in which it is already present, which includes major cities in North India, Bangalore, Hyderabad and Chennai in South India and Mumbai and Pune in the West. Further, it will expand its business to East India in the coming months. 'The fund utilisation will be primarily to invest in growth which is to expand market footprint,' a source quoted above said. The latest round brings the total fund raised by the Gurugram-based company to over $29 million. In 2022, Eggoz had raised $8.8 million in Series B funding, which was a mix of primary investment and secondary share sale, led by Mumbai-based IvyCap the financial year 2024-25, Eggoz reported a net revenue of Rs 130 crore which grew 76% year-on-year from Rs 74 crore reported in FY24. In the March quarter of FY25, the company achieved an Ebitda breakeven. This net revenue refers to the total revenue generated for the year after considering distribution margin, discounts given to customers, commissions to quick commerce platforms, etc. Eggoz was founded in 2017 by IIT Kharagpur alumni Abhishek Negi, Aditya Singh, and Uttam Kumar, the company has a presence in 11 cities. The brand sells premium eggs online, especially quick commerce, and offline through organised trade channels. In the last two years, the company has been growing fast on quick commerce platforms, according to the source quoted earlier. "Eggoz has built mutual quality check guidelines with the quick commerce platforms to ensure the hygiene is maintained and the quality of the eggs are not compromised," the person cited above added, when asked about the ongoing hygiene issues in quick commerce dark stores in various this segment, other key players include Temasek-backed Licious, Coimbatore-based Suguna Chicken and Temasek and Venturi Partners-backed Country Delight's private label eggs. Bengaluru-based Licious, which also sells meat and seafood, is seeking to become profitable as it prepares to list in 2026. The firm is targeting a valuation of more than $2 billion in the listing. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Someone has to cut the cheque for Zepto to grow. Who's that? Drones have become a winning strategy in war; can they be in investing? Punit Goenka reloads Zee with Bullet and OTT focus. Can he beat mighty rivals? Profits plenty, prices attractive, still PSU stocks languish. Why? Stock Radar: Indus Tower stock breaks out from Symmetrical Triangle pattern; could hit fresh 52-week high – check target & stop loss Mid-cap pharma space: Risk & opportunity are two sides of the same coin. 7 pharma stocks with upside potential of up to 41% History on their side: As bulls return, 50 non-Nifty stocks with a higher probability of trading income & creating wealth Beyond the one-number mirage: 7 stocks from different sectors with an upside potential of up to 24%
