Veegrow’s Gross Merchandise Value (GMV) has soared over 8 times and crossed Rs 100 crore in FY22

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It is great to hear that Vegrow’s Gross Merchandise Value (GMV) has soared over 8 times and crossed Rs 100 crore in FY22. Vegrow is an Indian agri-tech startup that provides a platform for farmers to sell their produce directly to businesses such as restaurants, supermarkets, and hotels. GMV refers to the total value of goods sold on a platform or marketplace, including all discounts and refunds, before any deductions such as platform fees or commissions. The increase in Vegrow’s GMV indicates that the company has seen significant growth in the volume of produce sold on its platform. This growth is likely due to several factors, such as an increased demand for locally sourced produce, the convenience of buying directly from farmers, and the efficiency of Vegrow’s platform. The COVID-19 pandemic has also highlighted the importance of a resilient and sustainable food supply chain, which has increased interest in agri-tech solutions like Vegrow. Overall, Vegrow’s success in increasing its GMV is a positive sign for the company and the agri-tech industry as a whole. It is important to note that GMV alone does not indicate profitability or sustainability, and further information about Vegrow’s financial performance would be needed to assess the company’s overall success.

Vegrow is a Bengaluru-based agri-tech startup that was founded in 2019. The company’s platform connects farmers directly with businesses, eliminating the need for intermediaries and reducing food waste. Vegrow offers a range of services to farmers, including crop planning, financing, and logistics support. India’s agri-tech industry has been growing rapidly in recent years, driven by factors such as rising demand for fresh produce, increasing smartphone penetration, and government initiatives to support agriculture and entrepreneurship. The COVID-19 pandemic has also highlighted the importance of digital solutions for the agriculture sector, leading to increased interest and investment in agri-tech startups. According to a report by Nasscom, the Indian agri-tech market is expected to grow to $24.1 billion by 2025, up from $4.9 billion in 2020. This growth is being driven by a variety of factors, including increased adoption of digital technologies by farmers, the expansion of e-commerce platforms in rural areas, and the development of new agri-tech solutions.

Vegrow’s success in increasing its GMV is a positive sign for the company and the agri-tech industry in India as a whole. The company’s innovative platform has the potential to transform the way that farmers sell their produce and connect with businesses, and could help to create a more efficient and sustainable food supply chain in India.