GIC in talks to lead $40M Series C for Vegrow

GIC, a Singapore fund, is said to be in talks with Indian startup Vegrow, a B2B marketplace focused on fruits.

• Funding Rumors: GIC is speculated to lead a $40M Series C funding round in Vegrow. However, these talks are still in their preliminary stage and nothing has been confirmed yet.

• Valuation: Informal sources suggest that Vegrow could be valued at a pre-money valuation of around $250M.

• Rapid Growth: Launched last year with a successful Series B funding round led by Prosus Ventures, Vegrow has shown significant growth, garnering a $170M valuation.

• Mission and Coverage: Vegrow aims to address the imbalance between demand and supply in the fruit market. Their platform operates across 100+ cities, connecting wholesalers, semi-wholesalers, and both modern and traditional trade players.

• Impact: As of last year, Vegrow was assisting over 20,000 farmers in scaling their businesses.

Vegrow has attracted a diverse group of investors, including Lightspeed, Elevation, Better Capital, and Ankur.