Latest news with #Eggoz
Mint
29-07-2025
- General
- Mint
Investors want to make an omelette. These companies are providing the eggs
Bengaluru: Tiptur, a small Karnataka town roughly 150km from Bengaluru, is known more for its copra, or dried coconut, than anything else. While coconuts are the mainstay, Tiptur's Kaveri has slowly been building a reputation, of late. Not the river, but a hen. Jet black, soft beige and every warm-toned shade in between, Kaveri is the dominant breed at organic food company Akshayakalpa's Tiptur farm. Around 400 Kaveris roam free on 5- and 10-acre poultry zones in the Tiptur campus. Their cousins, the Sonali, Kadaknath and Gramapriya breeds, rule other Akshayakalpa farms. The Kaveris are a pampered lot. Their bedding is soft, with coconut husk spread across the ground. They lay their eggs in private nooks, dust-bathe or roll around in loose, dry soil to clean their feathers, sunbathe lazily, and play freely. 'It's the most natural life for a bird," says Manjappa Honnappanavar, research and development (R&D) head at the Bengaluru-based startup. 'That's why she's healthy. And that's why the eggs are better." This is in stark contrast to conventional cage systems—concentration camps, really—in which birds lead a tortured existence all their lives before being placed in even smaller cages at butcheries as they await slaughter. The Kaveri eggs, some with the soft beige hue of sand dunes, others the warm brown of milky tea, aren't just pretty; they're antibiotic-free, cage-free, cruelty-free. And so, they sell for a hefty premium. But will that premium pricing prove to be their undoing? The branded egg business has for long been hard to crack and still remains a small play. Over the years, several companies have entered the segment with varied positioning, but few have stayed the course. Yet, a few egg-focused startups, such as Akshayakalpa, Eggoz, Farm Made and Henfruit, are trying to rewrite the story. Armed with tech platforms and guarding feed formulas for hens like family heirlooms, they are promising consumers 'better, nutritious eggs'. Each of these premium egg startups has carved out its own version of the 'better egg." Eggoz pitches bright orange yolks, Henfruit claims its eggs pack a protein punch of nearly 7gm per egg. Farm Made, like Akshayakalpa, emphasizes its cage-free philosophy. Others, such as Abhi Eggs and SKM, offer nutrient-enriched options, with Omega-3 or Vitamin D3 eggs. Nearly all of them assert that their eggs are antibiotic-free. Last month, Eggoz, secured $20 million in funding from Gaja Capital and IvyCap Ventures, among others. The company is the only one in this space to raise serious institutional capital. As branded eggs capture the attention of both investors and consumers, they also throw up important questions: Are these eggs truly better? And can these companies scale up to become a national brand? Too basic to brand? Walk into any local store, and you'll see crates of eggs: loose, unbranded and selling for ₹6-8 apiece. Despite being a ₹95,000 crore category, with Indians consuming an estimated 300-400 million eggs daily, the vast majority of sales still happen offline, unlabelled and unpackaged. So, why has a product with such scale stayed so anonymous? A former farmer from eastern Uttar Pradesh, who didn't want to be identified, has a theory: 'You can't do too much with an egg. Its quality depends on what the chicken eats. That's about it." Unlike milk, where pasteurization, fat content and adulteration have made consumers seek out branded options, eggs are still seen as a uniform product, more functional than finessed. That sentiment is echoed by Akshat Gupta, practice member, food & agriculture, at Praxis Global Alliance, a research firm. 'Indian consumers still perceive eggs as a commodity with very little differentiation in terms of quality," he says. This perception, or the lack of it, might explain why India has no national egg brand to speak of, like an Amul for milk and butter. The category is fragile: eggs spoil quickly, break easily and are tricky to standardize or transport in bulk without a robust cold chain. Even for companies that have entered the fray, eggs are a side act. For Akshayakalpa Organic, for instance, the segment makes up just 2.5% of total sales. 'Sourcing consistently premium eggs is one of the hardest things to do in this business," says Shashi Kumar, co-founder and chief executive officer (CEO) of Akshayakalpa Organic. Licious, another company with a presence in this category, declined to share details of its egg business. Turmeric, petals, red pepper… Back in 2017, three IIT Kharagpur engineers—Abhishek Negi, Aditya Singh and Uttam Kumar—decided to take a crack at the egg market. What they saw was a largely unregulated supply chain selling eggs laced with growth promoters, hormones and antibiotics. So, they decided to build a business selling cleaner, more nutritious alternatives. The trio set up a farm in Bihar, and spent the next three years understanding the intricacies of poultry farming before launching Eggoz as a brand in 2020. Investors at that time, recalls Negi, had concerns: How could anyone possibly innovate an egg? But the founders went ahead with a capital-intensive, fully owned farm model, before eventually pivoting to an asset-light, farmer-led contract farming setup. Eggoz appears to be making some headway with an unusual pitch for its branded eggs: bright orange yolks. The company attributes the vivid colour to a feed mix that includes turmeric, flower petals, and red pepper, a detail highlighted on its website. 'The goal," Negi tells Mint, 'is to become the Amul of eggs." Today, Eggoz is clocking steady, double-digit growth. The egg-selling startup's numbers are striking. It claims to have recorded 76% year-on-year revenue growth, at ₹130 crore, in 2024-25, and earnings before interest, taxes, depreciation and amortization (Ebitda) breakeven in the final quarter of the year. All this, while operating in one of India's most fragmented, low-margin and largely unbranded categories. It isn't alone. Farm Made, another premium egg startup, posted a 43% jump in revenue in its last available filings, for 2021-22. Delhi-based Henfruit, meanwhile, claims to have crossed ₹150 crore in revenue last fiscal year. Mint couldn't independently verify this, as the company operates as a sole proprietorship, without public financial disclosures. Akshayakalpa, which is better known for other organic products such as milk, curd and paneer, entered the category about three years ago. Currently, it sells 22,000-25,000 eggs per day. Hefty price tag But these speciality eggs do not come cheap. They command a steep premium anywhere between 100% to 300% over loose eggs. At ₹25 apiece, Akshayakalpa's Kaveri eggs cost nearly 250% more than the eggs at your local kirana shop. Honnappanavar insists the premium is a necessity, not a luxury. It ensures that the farmer is fairly paid for growing organic and has an incentive to do so, that the company sustains itself, and that the consumer gets clean, nutritious food. There are two main reasons for the premium pricing, says Eggoz' Negi. First, the feed. 'We use 100% herbal feed: grains like maize, soya, rice, wheat, along with turmeric, marigold extract and paprika," he says. 'It boosts the birds' natural immunity and directly impacts the quality of the eggs." That special diet, while central to the company's pitch of healthier eggs, also pushes up production costs significantly. Traditional poultry farmers look at the cheapest and most efficient feed for their birds. Second, the supply chain. Eggoz sources eggs from farms located near consumption hubs, helping reduce transit time. 'The eggs come to our processing centres, where we run 11 quality checks for shell strength, hairline cracks, yolk defects, and get them to market within 24 to 48 hours," says Negi. Henfruit founder Tarun Gupta also claims to have a rigorous process at his company. Eggs are brought to a processing facility where they are washed, sanitized, and inspected for any defects. 'It's a camera-based system. So, it will check each egg, weigh each egg, take out all the defective ones and pack only the good ones," he says. Egg tech While the secret feed recipes are the crown jewels of these egg startups, it is the use of technology that helps them manage their fragile and complex supply chain. At Henfruit, the entire process, from the moment the feed enters the farm, is fully automated, claims founder Gupta. In two months, the company plans to introduce a new traceability feature: a stamped QR code on each egg. Scanning it will enable the consumer to access the egg's backstory—details such as which flock laid it, what feed it was given, when its last health check-up was, and even when it reached the retailer. Gopal Jain, CEO and managing director of Gaja Capital, an investor in Eggoz, says the startup has built tech integrations across the supply chain. 'They've got supply chain dashboards to manage feed and inventory, app integrations for farmers, and automation at their fulfilment centres," says Jain. 'In a category where traceability has never really been a priority, Eggoz has made it a core strength. That's what's helping them scale where others couldn't." But… investing in eggs? It's intriguing that Eggoz has already raised $37.8 million and is valued at around $55-58 million. The size of the market is proving hard for investors to ignore. There is no single national egg brand, so there is huge potential as an increasing number of consumers are asking about the nutrition aspect of the eggs, says Vikram Gupta, managing partner at IvyCap Ventures, which has also backed Eggoz. There is an opportunity to scale profitably if you create a niche in the premium egg category, says Gupta. 'If one can position oneself in the ₹15-30 category and is able to give the nutrition value the customer is looking for, consumers there are less price-sensitive but more sensitive about the quality of the eggs," he says. But is this niche set of customers big enough for a company to scale up meaningfully? Gaja Capital's Jain explained that the size of India's branded eggs market is estimated by some to be 7% of the overall egg market, at ₹4,000 crore, and growing at more than 30% year-on-year. 'In developed countries, the number is 70%. With rising income levels and changing food habits, branded eggs in India could realistically grow to 30-40% of the total market over time," he adds. Despite the challenges, eggs have the scalability and margin profile to be as profitable as other high‑frequency staples, when backed by a fully integrated, digitally enabled supply chain, according to Shruti Srivastava, investment director at Avaana Capital, another investor in the company Eggoz. 'India's per capita egg consumption, at approximately 103 eggs per person, per year, remains far below the global median of 188… As we move closer to global median consumption levels for eggs and branded penetration begins to mirror adjacent categories like dairy or atta (which are at about 30-40% penetration today) the headroom for growth is significant," she adds. Outside the shell While 27-year-old Bengaluru-based software engineer Sumukh S. has tried Eggoz eggs, he remains unconvinced. The packaging feels no different from the loose eggs he orders online. Other branded options, he says, are simply too expensive. More importantly, he isn't sure what he's paying for. 'I care about egg quality, so I've tried different brands. But how can I be sure they're actually better or antibiotic-free? A brighter yolk is nice, but it doesn't justify paying twice the price of regular eggs," he says. 'Most times, some of these eggs arrive broken. If they're premium, the packaging should reflect that. Consumers shouldn't have to deal with cracked eggs." The real test for branded egg startups may be winning over everyday consumers like Sumukh and getting them to pay a premium. Unlike in global markets such as the US, the UAE and much of Europe, there is no formal certification system in India. Verification depends entirely on brand credibility and transparency. Consumer trust is a big issue, but it's not the only one. Prateek Rastogi, founder of Better Nutrition, a company that sells biofortified foods, says the real challenge lies in the consistency of nutritional claims. 'Unlike processed foods, the nutritional value of eggs and dairy is highly dependent on the feed quality, which varies from farm to farm and batch to batch. This means nutrient levels such as omega-3, vitamin D, or iron can fluctuate significantly, even within the same brand," he notes. Even as chemical-free eggs make for a compelling business pitch, whether they are truly healthier and to what extent remains an open question. 'According to multiple studies, branded/fortified eggs can contain up to 6-8x more Omega-3s, 2-3x more Vitamin D, especially if hens get sunlight, and just slightly higher levels of Vitamin E, selenium and lutein, which are important for eye and brain health," says Isha Lall, an independent nutritionist and wellness coach. However, she notes, 'If you're on vitamin D supplements or take regular sunshine, eat a diet already rich in nuts, seeds and greens, regular eggs are still incredibly nourishing. But if you're vegetarian, don't eat fatty fish, or have low Omega-3/Vitamin D levels, these branded eggs can be beneficial." Henfruit's Gupta points out that the amount of Vitamin D3 brands tout is so minimal that even daily consumption over a year wouldn't make a noticeable difference. The complexities only deepen when you are trying to build a national brand. As IvyCap Ventures' Gupta says, it's easy to operate in one region, but scaling across India's diverse cultures, languages and food habits is a different ball game. 'One has to understand the diverse needs of customers on one side and the supply chain nuances on the other side." Clearly, an egg company raising big capital is impressive. As for building a national brand, many eggs will have to be broken to make that omelette.
Entrepreneur
05-07-2025
- Business
- Entrepreneur
Top Venture Capital Deals of the Week (June 28–July 04)
Stay updated on this week's most impressive startup fundings, the key investors involved, and the sectors that are drawing the most venture capital interest. Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. India's startup ecosystem remained vibrant this week with a mix of B2B marketplaces, climate-tech innovations, agritech solutions, and consumer-focused ventures that successfully secured funding. From revolutionising local kirana stores to creating eco-friendly alternatives to plastic, let's dive into the standout startup funding highlights of the week: Jumbotail Inception: 2015 2015 Founders: S Karthik Venkateswaran and Ashish Jhina S Karthik Venkateswaran and Ashish Jhina Based-out: Bengaluru Jumbotail is a B2B online marketplace aimed at revolutionising food and grocery retail for India's ubiquitous kirana stores. It provide a comprehensive platform that covers everything from digital ordering and warehousing to logistics and fintech solutions, plus a modern retail network called J24. With their GoldenEye Retail Operating System, Jumbotail is helping small retailers go digital and modernize, giving them a fighting chance against larger retail chains. Funding Amount: USD 120 Million Investors: SC Ventures, Artal Asia Eggoz Inception: 2017 2017 Founders: Abhishek Negi, Aditya Singh, and Uttam Kumar Abhishek Negi, Aditya Singh, and Uttam Kumar Based-out: Gurugram Eggoz is a tech-enabled egg farming company that focuses on producing and selling high-quality, nutritious eggs. It offers brown, white, and Nutra eggs, and also sell egg-based products like burgers and nuggets. Eggoz operates a farm-to-consumer model, ensuring freshness and hygienic practices, and is expanding its presence both online and offline. Funding Amount: USD 20 Million Investors: Gaja Capital, IvyCap Ventures, Rebright Partners, Avaana Capital, NABVENTURES, and others AppsForBharat Inception: 2020 2020 Founder: Prashant Sachan Prashant Sachan Based-out: Bengaluru AppsForBharat is a leading faith-tech company focused on spiritual engagement through digital tools. Its flagship app, Sri Mandir, allows users to engage in virtual pujas, send chadhava (offerings), receive prasad, and stream devotional content, bridging traditional faith practices with digital convenience. Funding Amount: USD 20 Million Investors: Susquehanna Asia Venture Capital, Fundamentum, Elevation Capital, Peak XV Partners Aukera Inception: 2023 2023 Founders: Lisa Mukhedkar and Kumar Saurabh Lisa Mukhedkar and Kumar Saurabh Based-out: Bengaluru Aukera is a premium lab-grown diamond jewelry brand offering IGI-certified diamonds through an omnichannel retail model. With 13 company-owned stores in metro cities, Aukera caters to modern consumers seeking sustainable and ethical luxury. The brand offers a range of rings, earrings, pendants, and more, blending traditional and contemporary designs. Funding Amount: USD 15 Million Investors: Peak XV Partners, Fireside Ventures, Sparrow Capital, Prath Ventures, Alteria Capital Bambrew Inception: 2019 2019 Founder: Vaibhav Anant Vaibhav Anant Based-out: Bengaluru Bambrew is a sustainability-focused startup replacing single-use plastic with compostable packaging made from bamboo fiber, agro-waste, and recycled paper. It serves multiple industries, helping businesses meet their sustainability goals while reducing plastic dependency. Funding Amount: USD 10.3 Million Investors: Ashok Goel, ENRISSION INDIA CAPITAL Eeki Inception: 2018 2018 Founders: Abhay Singh and Amit Kumar Abhay Singh and Amit Kumar Based-out: Kota Eeki is transforming agriculture with IoT-enabled, climate-controlled aeroponic farms. These farms grow pesticide-free vegetables at scale, making sustainable farming both viable and cost-efficient. The company partners with landowners to convert non-arable land into productive farmland. Funding Amount: USD 7 Million Investors: Sixth Sense Ventures Zango AI Inception: 2024 2024 Founders: Ritesh Singhania and Shashank Agarwal Ritesh Singhania and Shashank Agarwal Based-out: Bengaluru and San Francisco Zango AI offers a regulatory compliance platform that combines AI-powered agents with human expertise to automate critical compliance functions like horizon scanning, gap analysis, and controls testing. It aims to streamline compliance for financial services and other complex sectors. Nexus Venture Partners, South Park Commons, and notable angels including Richard Davies and Alan Morgan
&w=3840&q=100)
Business Standard
30-06-2025
- 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
30-06-2025
- 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
&w=3840&q=100)
Business Standard
30-06-2025
- Business
- Business Standard
Eggoz raises $20 million in Series C to scale branded eggs in Indian market
Indian egg supply chain startup Eggoz has raised $20 million in Series C funding, as it 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. Focus on traceable, tech-enabled food products The company claims to have achieved 76 per cent year-on-year revenue growth, reaching Rs 130 crore in FY25, up from Rs 74 crore in FY24. In Q4 FY25, Eggoz said it achieved EBITDA breakeven and a peak brand annual recurring revenue of Rs 200 crore. The Indian egg market 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 a challenge for startups like Eggoz. Expanding product range and market reach Eggoz emphasises safety and traceability, subjecting its products to what it describes as 11 hygiene checks and using herbal feed. The company is positioned as a supplier on India's quick commerce and e-commerce platforms, though it faces competition from traditional distributors and other branded players entering the segment. '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 also expanded into value-added products, including egg momos and burger patties, targeting urban consumers seeking convenient protein options. Currently available in more than 11 major cities—including Delhi NCR, Bengaluru, Mumbai, Hyderabad, Chennai and Pune—Eggoz is competing for a share of what industry reports estimate to be a $12 billion Indian egg market. Investor confidence in scalable protein solutions '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 holds promise, companies must navigate complex supply chain logistics, maintain consistent quality, 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.
