Madras Mandi, raised Rs 3 crore through Klub, Asia’s leading Revenue Based Financing Platform.
The company plans to utilise these funds to expand its direct-to-consumer vertical. With a keen focus on enhancing delivery services in Chennai, it is set to establish 20 new stores by the end of 2024.
Madras Mandi, known for its commitment to quality and sustainability, is making significant strides in the fresh produce sector. With a focus on top-notch produce sourced from South India's top farms, Madras Mandi serves quality-conscious consumers in both the B2B and D2C sectors. The company's extensive reach includes supplying produce to 9 out of 10 restaurants in Chennai and serving a vast online user base of over 1 lakh individuals, impacting the lives of over 5000 farmers.
CEO Prashanth Vasan credits Klub for playing a pivotal role in Madras Mandi's growth journey, highlighting Klub's exceptional service and invaluable fundraising insights.
Madras Mandi's commitment to sustainability is evident through its eco-friendly packaging, reducing carbon footprint. With a tech-driven supply chain management system, the company has achieved remarkably low wastage, less than five per cent, surpassing the industry standard of over 35 per cent.
Sudharshan Venkatakrishnan, Senior Vice President at Klub, commended Madras Mandi's vision and leadership in the flourishing fresh produce market. As India's fresh produce sector is expected to grow ~8 per cent annually from 2024 to 2028, Madras Mandi is positioned as the undisputed leader in Chennai.
Through this partnership, Klub strengthens its position as a leader in Revenue-Based Financing, providing fast and flexible capital to digital businesses in India. Since its inception, Klub has funded over 650 brands through more than 1700 investment rounds.
