Why We Invested in FreshHaat
A D2C startup delivering fresh groceries in 30 mins at your door step
What is Fresh Haat?
Fresh Haat is an omni-channel retail platform founded by Ujjawal and Narendra, with a vision to become the go-to brand for fresh produce. The company launched its operations in November 2021 and has been selling a wide range of fruits and vegetables along with self-branded non-F&V products. The founders have prior experience of building and scaling a company in the same domain to a ₹50 Cr+ ARR, which showcases their expertise in the industry.
What does Fresh Haat do?
Fresh Haat aims to build a solid B2C retail platform where consumers can shop for fresh produce based on trust about quality and price. The company's method of procuring produce directly from farmers, cutting out traditional middlemen, ensures that the produce is cheap, of higher quality, and pays the farmer a greater fee for their work. Fresh Haat has also reduced wastage from 35-40% to 8-10%, benefiting both farmers and consumers.
The founders of Fresh Haat bring in a diverse skill set and expertise, making them perfect to run the business. Ujjawal's experience in agricultural supply chain and retail operations, Himanshu's experience in online operations, inventory management, and last-mile delivery, and Narendra's experience in retail supply chain and operations, branding, and marketing, make them a formidable team.
Why this industry?
The agriculture industry in India is a key driver of the economy. The current trend in the industry is to cut out intermediaries and source directly from farmers. The Indian market for fruits and vegetables is expected to reach ₹7.5 trillion by 2024, showcasing the potential for growth. Fresh Haat's approach of providing fresh produce at a lower cost while benefitting both farmers and consumers sets it apart from competitors in the market.
The TAM for Fresh Haat's products is significant, given the demand for fresh produce in India. The market for fruits and vegetables is expected to grow at a CAGR of 10.1% from 2019 to 2024, reaching a value of ₹7.5 trillion.
Why we invested?
We have invested in Fresh Haat because of its strong founding team and unique business model. Fresh Haat's approach of procuring produce directly from farmers and cutting out intermediaries, reducing wastage, and providing fresh produce at a lower cost makes it a disruptive player in the market