New Delhi, May 6 (KNN) Poshn, a full-stack foodtech supply chain startup, has secured USD 6 million in a pre-Series A funding round. The financing comprised USD 4 million in equity and USD 2 million in debt, led by existing investors Prime Venture Partners and Zephyr Peacock India.

This latest capital raise brings Poshn's total equity funding to around USD 8 million since its inception in 2020. The company had previously raised USD 4 million in a seed round from the same investors in 2022.

Poshn's full-stack supply chain solution is geared towards facilitating growth for micro, small and medium enterprises (MSMEs) and institutional players in the food industry.

The company's comprehensive offerings encompass demand consolidation across multiple trade channels, integrated financial services to provide working capital, partnerships with vendors for logistics and warehousing requirements, as well as software-as-a-service (SaaS) solutions.

The start-up plans to utilise the funds to expand its suite of solutions and create the largest distribution network in the food sector.

Additionally, Poshn will deploy the capital to foray into global markets through imports and exports of profitable food categories to Southeast Asian and Middle Eastern countries.

Shashank Singh, Co-founder of Poshn, stated, "With the trust of our investing partners and this fresh equity, we will aggressively integrate forward and backward in the supply chain and open foreign/export markets over the next 12 months while growing profitably."

Prime Venture Partners commended Poshn's supply-first approach, stating, "The company has meaningfully solved for the B2B food value chain and has always been bottom-line focused with a remarkable ROCE."

With this pre-Series A funding, Poshn is well-positioned to expand its footprint in the global food supply chain market while maintaining profitability.

(KNN Bureau)