Behind the Scenes: How Madras Mandi Secured Rs 3Cr Investment from Klub

Newly funded fresh produce venture, Madras Mandi, secured Rs 3 crore from Klub, a revenue-based financing platform. This capital infusion is earmarked to bolster its direct-to-consumer (D2C) operations.

Madras Mandi intends to leverage these funds to bolster its delivery network in Chennai and inaugurate 20 additional stores by 2024’s close, further solidifying its market presence.

What Does Madras Mandi Offer?

Madras Mandi specializes in curating distinctive farm experiences and organizing inclusive events like “Kootanchoru.” The startup prides itself on sourcing wholesale fruits and vegetables meticulously chosen from premier farms across South India, catering to discerning consumers who prioritize quality.

Acting as a crucial intermediary between local farmers and consumers, Madras Mandi operates within both the B2B and D2C sectors. With a claimed presence in supplying produce to 9 out of 10 restaurants in Chennai and serving a substantial online user base exceeding 1 lakh individuals, the startup significantly impacts the lives of over 5,000 farmers.

According to Prashanth Vasan, the co-founder and CEO of Madras Mandi, “Klub has been pivotal in facilitating Madras Mandi’s growth journey. Their exceptional service and prompt timelines have been instrumental, providing invaluable insights into fundraising through our partnership.”

Lowering Carbon Footprint

Madras Mandi embraces eco-conscious packaging for its deliveries, effectively reducing its carbon footprint. Furthermore, the startup’s technology-driven supply chain management system boasts an impressively minimal wastage rate of under 5%, surpassing the industry norm of 35%.

The company is proactively pursuing its goal of establishing 20 new stores by the conclusion of 2024.

What Klub Says About Madras Mandi?

According to Sudharshan Venkatakrishnan, Senior Vice President at Klub, “India’s dynamic landscape is undergoing a transformative change in the fresh produce sector, with consumers increasingly prioritizing quality. In this rapidly expanding market projected to grow at approximately 8% annually from 2024 to 2028, Madras Mandi stands out as the leading force in Chennai. We are excited to support their vision as they spearhead growth in this thriving market.”