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Fambo raises Rs 21 crore in Pre-Series Funding
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Saturday, 25 January, 2025, 12 : 00 PM [IST]
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Our Bureau, Mumbai
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Foodtech startup Fambo has successfully closed its Rs 21 crore Pre-Series funding round, led by EV2 Ventures, with participation from Rajesh Sawhney and several Ultra High Net Worth Individuals (UHNIs). This funding marks a significant milestone in its journey, highlighting its innovative approach to reducing food waste, increasing farmers' incomes, and providing cutting-edge food solutions.
Founded in March 2022, it connects farmers directly with restaurants, hotels, and cloud kitchens through its AI-enabled platform, ensuring fresh produce, minimising waste, and maintaining quality. The company operates a state-of-the-art Micro-Processing Centre, offering semi-processed food items to help food service businesses reduce costs, ensure consistency, and streamline operations.
It plans to use the funds to scale its operations across India, establish an export vertical, invest in technology, and grow its network of partner farms. The company serves over 500 restaurants and cloud kitchens, including major brands like Burger King, McDonald's, California Burrito, Burger Singh, Farzi Café, and Barbeque Nation.
Karan Mittal, general partner at EV2 Ventures, said, “Fambo’s digital-first approach to delivering traceable and customised assortments through omnichannel distribution, instead of multiple layers of middlemen, benefits not only QSRs and the HoReCa industry but also ensures improved earnings for farmers, unlocking benefits on both ends of the supply chain.”
The company’s growth strategy revolves around its proprietary PDP (Platform-Delivery-Product) framework, which integrates technology, efficiency, and innovation for sustainable growth. Fambo’s AI-powered platform helps restaurants manage provisions, purchase ingredients, and ensure a reliable supply chain with traceability. It enables strategic sourcing and delivers temperature-controlled logistics for on-time deliveries directly from farms to restaurants. Additionally, its state-of-the-art micro-processing centre in Noida enhances operations by providing innovative value-added products such as pre-cut vegetables, sauces, gravies, frozen goods, and fried items. These products enable restaurants to introduce new menu items, save on costs by shortening preparation time, reduce manpower in kitchens, maintain consistency and quality across outlets, and minimise waste.
Fambo generated a revenue of Rs 18 crore in the Calendar Year 2024, having turned profitable in Q3 FY 2024-25. It is also planning R&D in collaboration with Indian and international universities to develop new food categories and cater to more customers.
Akshay Tripathi, co-founder & CEO of Fambo, said, “We approached the foodservice industry from the lens of the supply chain, eliminating waste at every step and transforming inefficiencies into value for customers and farmers. Our micro-processing centre combines minimal space and high throughput to deliver innovative products that save time, reduce costs, and ensure quality.”
The company works with 75 acres of GAP-certified farms and collaborates with Farmer Producer Organisations (FPOs) to reduce waste and boost farmers' incomes. Sudarshan Satle, co-founder & COO, said, “Our AI-powered platform helps customers plan demand and match it with strategic sourcing. We’ve achieved less than 1% waste by effectively matching demand and supply and implementing tech-enabled agricultural practices, helping partner farms increase yield and reduce waste, thereby boosting their income.”
Fambo’s customer-first approach has earned praise from its partners. Bert Mueller, founder of California Burrito, said, “Fambo provides top-quality fresh vegetables with hassle-free delivery and excellent customer service.”
Swikar Gadpayle, AVP – Supply Chain, Burger King India, said, “Fambo’s understanding of agricultural supply chains and customer-centric approach has been invaluable. They’ve provided Burger King India with top-quality ingredients and complete traceability.”
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