B2B foodtech startup Urban Harvest is set to raise nearly $35.9 million (Rs 341.4 crore) in a Series D funding round led by Info Edge, with participation from a mix of institutional and individual investors, according to a report in Entrackr.
The company’s board is expected to approve the issuance of 42,013 Series D compulsorily convertible preference shares (CCPS) at an issue price of Rs 81,260 per share to facilitate the fundraise.
Info Edge will lead the round with an investment of Rs 30 crore. Other key participants include Sandeep Kapadia (Rs 27 crore) and J & A Partners (Rs 25 crore). Renu Sehgal Trust and LC Nueva Advisors are set to invest Rs 20.01 crore each, the report said.
Additional investors in the round include Saburi Projects LLP (Rs 15 crore), Madhuri Madhusudan Kela (Rs 13.09 crore), Viral Amal Parikh (Rs 11.56 crore), and the Gauri Khan Family Trust (Rs 5.01 crore). The remaining capital will be contributed by several other investors, taking the total number of participants in the round to 58.
Urban Harvest plans to deploy the fresh capital towards business expansion and growth initiatives, along with meeting its working capital requirements, supporting marketing efforts, and other general corporate purposes, said the Entrackr report.
Founded in 2019, the company operates a B2B foodtech platform supplying fresh produce, food ingredients, and automated coffee machines to restaurants, and cloud kitchens.
