Poshn, a food-tech startup, has announced that it secured $4 million in equity and $2 million in debt during a recent pre-Series A funding round. The funding was led by Prime Venture Partners and Zephyr Peacock India and is intended to support Poshn in establishing the largest distribution network in the food ecosystem.
Founded by Shashank Singh and Bhuvnesh Gupta in 2020, Poshn has now raised approximately $8 million in equity since its inception. Poshn operates as a full-stack food-tech supply chain company, adopting an integrated approach to improving effectiveness and efficiency across the entire food value chain. This includes food processing units, wholesale buyers, institutions, general trade, and retailers.
Poshn intends to utilize the new funds to further develop its innovative suite of solutions that address existing gaps in the system. Additionally, the company plans to expand its business into global markets, focusing on profitable categories for imports and exports to Southeast Asian and Middle Eastern countries.
Commenting on the recent funding round, Shashank Singh, co-founder of Poshn, stated, “Poshn has firmly established itself within the wholesale segment over the past three years. With the support of our investment partners and the infusion of new equity, we aim to aggressively expand both forward and backward integration within the chain, as well as enter foreign export markets over the next 12 months, all while maintaining profitable growth.”
