Latest news with #Eggoz
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Business Standard
2 days 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
2 days 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
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Business Standard
2 days ago
- 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.
Entrepreneur
2 days ago
- Business
- Entrepreneur
Eggoz Raises USD 20 Mn Led by Gaja Capital to Fuel Market Expansion
Existing investors including IvyCap Ventures, Rebright Partners, Avaana Capital, Merisis Opportunities Fund, Nabventures, Blue Dot Capital, and Artek Chemicals also participated in the round. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Egg brand Eggoz has secured USD 20 million (approximately INR 167 crore) in a Series C funding round led by mid-market private equity firm Gaja Capital. The round also saw continued support from existing investors including IvyCap Ventures, Rebright Partners, Avaana Capital, Merisis Opportunities Fund, NABVENTURES, Artek Chemicals, Blue Dot Capital, and notable angels such as Arvind Thakur and S. Ramadorai. The fresh capital will be deployed to deepen Eggoz's footprint in its existing markets—Delhi NCR, Bengaluru, Hyderabad, Chennai, Mumbai, and Pune—while also expanding into East India. A portion of the funds will also go toward enhancing technology and supply chain infrastructure, ensuring hygienic and traceable egg distribution at scale. Abhishek Negi, Co-founder and CEO of Eggoz, said, "We're excited to welcome Gaja Capital to the Eggoz family as we enter our next growth phase. At Eggoz, we're not just building a brand—we're redefining a category that reaches most Indian households. This capital will help us strengthen our presence, expand to new cities, and invest in technology and supply chain infrastructure." Founded in 2017 by IIT Kharagpur alumni Abhishek Negi, Aditya Singh, and Uttam Kumar, Eggoz has built a strong consumer brand by focusing on clean, protein-rich, and hygienically produced eggs. The company offers its products online, especially through quick commerce platforms, and offline via organised retail chains. It currently operates in 11 major Indian cities and has rapidly scaled due to rising demand for safe, traceable protein sources. Eggoz reported a 76% year-on-year revenue growth, hitting INR 130 crore in FY25, up from INR 74 crore the previous year. The company also achieved a peak annual recurring revenue (ARR) of INR 200 crore and EBITDA breakeven in Q4 FY25. "Eggoz is solving a critical gap in India's protein ecosystem with a scalable, tech-first approach," said Gopal Jain, Managing Director at Gaja Capital. "Their vertically integrated model and brand strength uniquely position them for long-term leadership in food and nutrition." Vikram Gupta, Founder of IvyCap Ventures, added, "With over 140 billion eggs produced in India annually, quality and traceability are critical. Eggoz is turning a fragmented category into a trusted consumer brand." This latest funding round brings Eggoz's total capital raised to over USD 29 million. In 2022, it secured USD 8.8 million in Series B funding, led by IvyCap Ventures.
Economic Times
2 days ago
- Business
- Economic Times
Q-comm firms add fees to cart; Curefoods joins IPO queue
Happy Monday! Quick commerce players are introducing new charges to offset rising losses. This and more in today's ETtech Morning Dispatch. Also in the letter: ■ Mid-market GCC jobs outlook ■ Fresh yolk for Eggoz■ IndiaAI's LLM focus Quick commerce apps stack up extra fees to curb losses India's quick commerce players — Blinkit, Instamart, and Zepto among them — are quietly layering on new charges, such as handling, small-cart, rain, and surge fees, to shore up their fragile unit economics, executives and analysts tracking the sector told us. Driving the news: These add-on fees, charged over and above standard delivery rates, typically range from Rs 6 to Rs 30 per order, depending on city and demand. Crucially, they allow platforms to increase their take rates without adjusting base delivery fees, which remain subsidised to keep users engaged. Apps have also raised the minimum cart value, nudging users towards bigger baskets. However, this fee stacking has triggered a wave of user complaints about hidden charges. The government, too, has taken note — it recently flagged these as 'dark patterns' and asked these platforms to conduct self-audits. Also Read: Quick commerce industry's hygiene headache explained Why it matters: The top platforms control more than 80% of the market and are battling swelling losses. Blinkit posted a Rs 178 crore loss in Q4 FY25, while Instamart's losses touched Rs 840 crore in the same period. With aggressive discounting and high delivery subsidies weighing on margins, these charges aim to plug widening gaps in the business model. Zoom out: India's quick commerce market is projected to touch $31 billion by FY28. For now, though, growth is coming at the cost of profitability, even as regulators and customers push back against the tactics being used to fund it. Also Read: Quick commerce firms face delivery partner crunch amid rising demand Curefoods files for public listing amid IPO market resurgence Ankit Nagori, founder, Curefoods Cloud kitchen operator Curefoods filed its draft red herring prospectus (DRHP) for an initial public offering (IPO), joining a wave of Indian tech firms tapping into renewed interest in the IPO market. Key details: The offer will include a fresh issue worth Rs 800 crore, alongside an offer for sale (OFS) of 48.5 million shares. Early backers Accel, Chiratae Ventures and Iron Pillar PCC would offload part of their stake in the OFS. JM Financial, IIFL Capital and Nuvama are advising on the IPO. Use of proceeds: Curefoods will use Rs 152 crore from the IPO to expand cloud kitchens, restaurants and kiosks, mainly for Krispy Kreme. Another Rs 127 crore will go towards debt repayment, with some funds allocated to boost stakes in subsidiaries. India-Ratings downgrades IPO-bound on debt repayment worries Aaditya Sharda and Souvik Sengupta, cofounders, India Ratings, part of the Fitch Group, has downgraded long-term debt rating to 'BBB+ with Negative Outlook' from 'A- with Negative Outlook', citing worries around debt refinancing, weak liquidity and negative cash flows from operations in FY25. On the flipside: In response, told investors and lenders in a note last month that the downgrade fails to reflect its improving financials, recent equity infusion, and upcoming liquidity events, including its planned IPO. Meesho gets shareholder nod to go public Vidit Aatrey, CEO, Meesho Ecommerce platform Meesho has secured shareholders' approval to go public, the last step before filing its DRHP with Sebi. What's on offer: The company recently redomiciled to India in preparation for the listing. The IPO will feature a fresh issue of Rs 4,250 crore, along with an offer for sale. Zoom out: Meesho could become the first digital-only one-stop shop to list in India. Its larger rival, Flipkart, owned by Walmart, is also exploring a public listing. Also Read: IPO watch: Which Indian startups are next to hit the stock market? Mid-market GCCs likely to add 40,000 jobs by 2026 end Mid-market global capability centres (GCCs) are poised to add 40,000 jobs in India by the end of 2026, pushing their total workforce past 260,000, according to data from ANSR Global, which helps set up these captive units. Tell me more: Over 120 new mid-sized GCCs are expected to come up by the end of next year. Most of them will support functions across software, banking, finance, accounting, insurance, and retail. Hiring will remain concentrated in key tech hubs, including Bengaluru, Hyderabad, Chennai, Pune, and Gurugram. The hottest skills on the radar include AI/ML engineering, data analytics, cloud engineering, cybersecurity, full-stack development, product management, and solution architecture. Bird's eye view: Mid-market GCCs are punching above their weight when it comes to deep tech. They account for around 1.5 times more talent in areas such as AI/ML, cybersecurity, cloud, and data science, according to a Nasscom-Zinnov report. While leaner by design, these centres are doubling down on niche and high-value skills rather than chasing scale. Other Top Stories By Our Reporters Eggoz eyes to bolster presence with fresh funds: Agritech startup Eggoz secured $20 million in new funding, with mid-market private equity firm Gaja Capital leading the round, to expand its presence in existing markets. IndiaAI Mission emphasises building LLMs: Out of the 506 proposals received by the IndiaAI Mission for developing foundational AI models, 43 are specifically dedicated to creating large language models (LLMs). Global Picks We Are Reading ■ Inside the British lab growing a biological computer (FT) ■ Why tech billionaires want bots to be your BFF (WSJ) ■ Facebook is starting to feed its AI with private, unpublished photos (The Verge) Updated On Jun 30, 2025, 07:50 AM IST
