Deep Rooted, an agritech startup based in Bangalore, has informed its customers through a Whatsapp communication, that it will be suspending operations w.e.f. 7 June 2023 in Chennai. The company, however will continue to operate in Hyderabad and Bangalore.
The company has raised Rs. 148 Cr (USD 18 Mn) over 2 rounds from marquee Investors such as Ivy Capital, Mayfield, Accel and Omnivore. Deep Rooted works with 1,000+ farmers, cultivates fresh produce over 1,500 acres and offers 300+ varieties from farm to fork. It claims to have serviced over 1.25 lakh customers over the last three years.
Set up in 2020 by Avinash B R, Gururaj Rao, Arvind Murali, and Santhosh Narasipura, Deep Rooted sources fresh produce from farmers, as well as greenhouses, and provides it to customers residing in urban cities. It claims to offer 200+ types of fruits and vegetables and also has a presence in Bengaluru, Hyderabad, and Chennai.
At the time of its most recent fund raise in Sep. 2022, Ashish Wadhwani, Partner at IvyCap Ventures, had said, “Fruits and vegetables as a category is ripe for disruption. Deep Rooted, with its razor-sharp focus on F&V, has already showcased a sustainable and profitable view of the opportunity while delivering value to both the farmers and end consumers. We’re excited to be a part of their growth journey.”
Though Deep Rooted competes with hyperlocal delivery companies such as Dunzo, Blinkit, BB Next, etc., to deliver fresh fruits and vegetables, the company had a strong USP that its products had ZERO pesticide usage and were sourced directly from farmers.
Editor’s Note: Over the past 30 years since the advent of organised grocery retail, led by RPG Group’s Foodworld (now RP-SG Group company Spencer’s), retailing of fruits and vegetables through an organised channel has been quite a challenge. Even though several online players have attempted this opportunity, none have been able to match the competitiveness, efficiency and freshness offered by the neighbourhood push cart vendors.