He received $2.6 million in Produze , which focuses on agricultural technologies . The investment in the India-based startup was led by Accel. Other contributors included All In Capital, Ninjacart, Sammunati, Drip Capital, Ranjith Mukundan, Stellapps.
It was launched in 2022 by Ben Mathew, Gaurav Agrawal, Rakesh Sasidharan and Emil Soman. Produze mediates its farmers to sell their products directly to international retailers. It also helps international retailers obtain higher quality products. The company plans to open offices in Europe and the USA in the next two months.
Ben Mathew, one of its founders, explains the company’s mission by saying, “We help agricultural producers reliably access international markets where they can earn more profit for their products.”
Harvesting and packaging an agricultural product after it is produced is a very long and laborious process. In order for the food to come from the soil to the plate, it must first be transported from the production area to the consumption area, presented to the market and offered for sale in markets, greengrocers or markets. This complex process causes almost 25 percent to 30 percent depreciation. Produze comes into play at this point, providing cost advantage to manufacturers and retailers.
Accel invested in France-based Swan, which appeared as a startup offering financial technology solutions in September of 2021 . It received an investment of $ 18.7 million in the Series A investment round. The $18.7 million Series A investment round was led by Accel. Apart from Accel, Creandum and Bpifrance, former investors of the company, also participated in the investment tour. Working with SaaS companies, marketplaces and other financial technology startups, Swan offers BaaS (banking-as-a-service) solutions to its customers. Offering a service that allows companies to add various banking services to their platforms, Swan offers these services through APIs.