SaaS player Wingify, has made an investment in VegFru, an online B2B marketplace that connects farmers and suppliers in fruit and vegetable (F&V) trading directly with retailers and large consumers.
Founded in 2009 by Paras Chopra in partnership with Sparsh Gupta, Wingyfy has offices in Delhi, New York and Pune and had recently acquired US based Navilytics, a visitor analytics solution platform for websites. Earlier in 2014, the company had also acquired Concept Feedback, a leading US based web design and user experience community startup.
Founded in June 2015 by Anil Chopra and based out of Delhi, VegFru connects farmers, suppliers, retailers and buyers on a single platform. It also serves as a third-party for suppliers and buyers to agree to an Escrow payment until supply is received. It has tied up with various transportation, packaging and export advisory firms for logistics.
Vendors, suppliers and sellers can register themselves on VegFru.com and list their products or services for free. Buyers from all over the world can connect with these sellers to enquire about prices and trade terms and trade with a suitable provider. VegFru assists in all trades and ensure quality and efficiency. The company boasts of 5000 registered vendors on VegFru.com that caters to over 100 different kinds of fruits and vegetables.
According to Anil Chopra, Founder and CEO, VegFru,
“VegFru.com has been conceptualized in a bid to modernize the F&V trade in India and bring in the much-needed transparency in the sector. It is surprising that the same Mangoes that are sold in Vijaywada for Rs 7000 per quintal are sold at Rs 10000 per quintal at New Delhi Azadpur mandi. Even after accounting for transportation and packaging costs, that is 20% increase in wholesale price from South India to North India! Another surprising fact is that farmers in developed nations get 50-60% of final consumer price of F&V produce while an Indian farmer just gets 20-30%. The reason for all these inefficiencies is that the F&V markets and marketing infrastructure in India are not linked with each other, besides an extremely large chain of intermediaries, excessive wastage because of repeated and rough handling of fragile produce. What sellers and buyers in one region know, is not known by farmers in other regions about prices, best practices and more. With VegFru.com, we want to make the entire trading process extremely easy, transparent, reliable and efficient for all the entities involved.”
With 15 employees, Vegfru.com is planning to on-board 50,000 vendors from all over India with expansion to all the major clusters and belts in India.