Supply chain tech platform Aker Foods secures funds from Mumbai Angels Network

Supply chain tech platform Aker Foods secures funds from Mumbai Angels Network
Photo Credit: Pixabay
28 Apr, 2020

Aker Foods Agrotech, which owns and operates an eponymous supply chain technology platform has raised an undisclosed amount in funding from angel investor group Mumbai Angels Network (MAN).

The Pune headquartered firm will deploy the funds to provide services to more customers across selected cities and accelerate onboard new clients and supply networks, according to the statement.

The company did not disclose the value of the transaction.

"We are focused on building India’s largest supply chain technology platform for restaurants and delivery kitchens.  Besides helping us raise funds in such precarious and unprecedented times, Mumbai Angels has bestowed their faith in us and also got us connected to its vast network of investors across cities in India,” Suraj Saste, co-founder, Aker Foods, said in a statement.

Founded last year in February by Saste, Nihal Surve, Manoj Jadhav, and Adarsh Kedari, Aker Foods is a platform to procure the best quality food ingredients for any business.

The company claims it is building artificial intelligence (AI)-machine learning (ML)-driven supply chain platform for hotels and commercials kitchens with end to end traceability to solve problems of quality, reliability, tracking analytics with technology.

Its products include fresh fruits and vegetables, meat and poultry, dairy products, pantry staples, and bakery, among others. Customers can download the app from the Google play store to order these products.

“Aker foods use end-to-end technology-driven platform for the food value chain to ensure that high quality ingredients reach the kitchens. We are happy to onboard Aker Foods in our diversified portfolio and look forward to being part of their growth story and this sector.” Nandini Mansinghka, co-promoter and CEO, Mumbai Angels Network, said.

Swiggy, Zomato, Subway and Farzi Cafe, among others, are some of Aker Food’s clients currently, the statement added.

Started in 2006, Mumbai Angels consists of over 400 members spread across eight chapters of Mumbai, Delhi, Bangalore, Kolkata, Hyderabad, Goa, Pune, and Jaipur. It has over 135 investments to its name and 30 exits. The angel network has spent some Rs 150 crores in total so far.

Read: Mumbai Angels Network launches programme to help startups deal with Covid-19 crisis

Earlier this week, Bengaluru headquartered AsknBid Innovation Factory India, which owns a fintech platform that provides algorithmic trading solutions, bagged an undisclosed amount of capital from Mumbai Angels Network and other angel investors. The network recently also backed Panji headquartered Arcis Tours, which owns eco-friendly travel tourism platform BLive.