Thursday 25 February 2021

Clover Goes D2C with the Launch of New Brand ‘Deep Rooted.Co’

~Building an ecosystem that benefits farmers with up to 3x increase in yield and income and gives consumers consistent access to high quality and contamination-free produce

 Focuses on shortening the ‘harvest-to-home’ cycle to less than 24 hours in the highly perishable category by controlling the entire value-chain from consumer demand to produce supply; thereby also reducing supply chain wastage to less than 10%

 Offers 80 plus SKUs across 6 categories of fruits and vegetables in Bengaluru and Hyderabad, including an Easy Cook Range.

   In the next 12 – 18 months, aims at ‘cluster-based’ expansion strategy to enter Chennai,Pune and  Mumbai.

 Bengaluru, 25th February 2021: One of the fastest-growing agri-tech start-ups, Clover  launched it’s direct to consumer brand "Deep Rooted.Co" with a consumer app available as “Deep  Rooted" on the Android and iOS platform. Deep Rooted.Co is a demand-backed supply chain solution for fruits and vegetables focused on quality, consistency, traceability and a high degree of predictability.

 

Catering to a growing market opportunity, estimated close to $100Bn in the B2B and B2C segment for vegetables and fruits, starting with Bengaluru and Hyderabad, Clover will invest over $2mn in creating farmer-facing input-output technology, investing in supply chain and cold storage capacities and communication to grow the brand Deep Rooted.Co.

Deep Rooted.Co will focus on catering to an urban city’s need for fruits and vegetables via a “consumer demand-led cultivation” process. Deep Rooted.Co will follow an “omni-channel” strategy to cater to existing consumer shopping preferences in the category and presence across modern and general trade.

 

Speaking at the launch, Avinash B.R. one of the co-founders at Clover said “With Deep Rooted.Co, our goal is to be India’s largest virtual farmer, facilitated by our full-stack agronomy intervention on the supply side; and an omnichannel presence, along with a consumer-facing app on the demand side. Consumers will get consistent access to zero-contamination, high-quality fruits and vegetables while farmers can experience up to a 3x increase in yield and income improvements.”

 

Clover’s experience in B2B, where it was already a preferred supplier to over 90 customers in over 175 locations based in Bengaluru and Hyderabad allows it to get a head-start in launching a consumer-focussed B2C brand. The Covid-19 lockdown led the company to bring forward its B2C launch while gathering valuable first-hand experience in consumer tastes and preferences in the fruits and vegetable category.

 

Avinash shared, “Our research conducted over September-October last year found that consumer behaviour is not to plan the buying of fruits and vegetables but to shop for it when the shortage is noticed. We see that consumers are slowly reverting to the pre-Covid preference of having the option to shop at neighbourhood Kirana and modern trade stores. Deep Rooted.Co will invest in growing its distribution from the current 150 modern trade and neighbourhood stores across Bangalore and Hyderabad to 500 and brand build to aggregate demand over multiple channels, including online via our own consumer app and web e-commerce presence.”  

 

High-quality fruits and vegetables will be supplied primarily from its owned greenhouse and hydroponic farms and from a network of over 100 small-medium scale land hold farmers.

 

Deep Rooted.Co stands on the three important pillars of ‘Fresh’, ‘Clean’ and ‘Community’. It delivers most of its produce fresh and in under 24 hours from farms primarily less than 150 km away from urban cities.

 

All highly perishable vegetables are grown under the guidance of a team of 10 plus agronomists who guide the farmers from the “seed-to-harvest” stage. Mostly greenhouse and hydroponically grown produce is contamination-free.

 

Rooted in the local community, the brand is steadfast in its focus to strike an equitable balance between farmers and consumers. Farmers should benefit from technology inputs that increase farm productivity at scale and access to consumer demand that provides an opportunity to increase incomes and the consumer should benefit from consistent access to high quality produce.

 

Also launched at the event was the Deep Rooted.Co consumer app, available for both Android and Apple users. Gururaj Rao, co-founder at Clover, who also leads the product and technology function said, “The Deep Rooted.Co app is a natural progression for us. We are aiming for upwards of 90,000 app downloads by the end of the year. Aside from shopping and regular promotions, we will also over time integrate product nutrition and storage advice, information on key farming practices and also take requests for farm visit schedules to share more around traceability and transparency.”

 

About Deep Rooted.Co:


Launched in 2021, Deep Rooted.Co is the brand of Clover, a fast-growing greenhouse agri-tech start-up. Deep Rooted.Co aims to create an equitable balance between the farmers and the consumers by building transparency and trust among them. The company has an omnichannel presence and caters to a growing $100Bn F&V market by delivering fresh, clean and residue-free produce in less than 24 hours.

 

Clover was founded by Avinash BR, Arvind M, Gururaj S Rao, and Santhosh Narasipura in 2018. Based out of Bangalore, the company is funded by Accel, Omnivore, Mayfield and Alteria Capital. Deep Rooted.Co is building an organized supply chain for fresh produce. Their solutions is in a demand-backed supply chain for perishables that is focused on quality, consistency and traceability. The company manages a network of peri-urban farms that cultivate this fresh produce in high quality, high-yield manner. The company is currently managing over 100 acres of farms by working with small-medium landholding farmers. DeepRooted.co supplies its high-quality fresh produce to Bangalore and Hyderabad. 

 




Tuesday 2 February 2021

MediBuddy closes $40 Million in Series B - the biggest round of funding in the Digital Healthcare space



Establishing MediBuddy as India’s No. 1 Digital Healthcare Platform

MediBuddy, India’s leading digital healthcare platform announced the closure of its $40 Million Series B Round. This follows the recent infusion of $20 million led by India Life Sciences Fund III, LLC, with participation from other investors. The digital healthcare platform had earlier announced an initial funding of $20 million (INR 150 crores) in June 2020 under this round. MediBuddy is led by co-founders Mr. Satish Kannan & Mr. Enbasekar, as the CEO and the CTO, respectively.Establishing MediBuddy as India’s No. 1 Digital Healthcare Platform



Bengaluru, 2nd February 2021:  MediBuddy, India’s leading digital healthcare platform announced the closure of its $40 Million Series B Round. This follows the recent infusion of $20 million led by India Life Sciences Fund III, LLC, with participation from other investors. The digital healthcare platform had earlier announced an initial funding of $20 million (INR 150 crores) in June 2020 under this round. MediBuddy is led by co-founders Mr. Satish Kannan & Mr. Enbasekar, as the CEO and the CTO, respectively.

 

COVID-19 has created an unprecedented acceleration in digital healthcare adoption and MediBuddy has been at the forefront of this transformation. To-date, over 3 crore Indians have used the mobile and web platforms to access specialist doctors 24x7 on video, order medicines and book home collection of lab samples. In addition, several Fortune 500 companies in India have trusted MediBuddy as their preferred digital healthcare partner to help their employees access various healthcare benefits.

In June 2020, to create market leadership in the digital healthcare industry, DocsApp (India’s leading online doctor consultation platform) merged with MediBuddy. Going forward, both MediBuddy and DocsApp will operate under a single brand name - MediBuddy.

 

Addressing the press conference, Mr. Satish Kannan, Co-Founder & CEO, MediBuddy, said, “At MediBuddy, we strive towards making high-quality healthcare accessible to Indians across the length & breadth of the country. On any given day, we provide consultations to more patients than any leading offline hospital chain. Moreover, we are proud of the fact that over 50% of these users are from non-urban areas.”

 Mr. Kannan also added that the potential of the MediBuddy platform has generated significant investor interest in the Series B round despite the uncertainty prevalent worldwide, helping it secure the highest funding in the digital healthcare space since the start of the pandemic. He also said that the Series B round attracted new investments from India Life Sciences Fund III, LLC, TEAMFund LP, JAFCO Asia Fund, FinSight Ventures, ALES Global Japan and Beyond Next Ventures. Existing investors including Bessemer Venture Partners, Milliways Ventures and Rebright Partners also participated in this round.

 

Mr. Vishal Gupta, Managing Director, Bessemer Venture Partners India, said, “We are fortunate to have been a part of Satish’s and Enba’s journey from the very early days. We continue to be strong supporters as they execute towards their aim of enabling more Indians to have access to high-quality healthcareMr. Vikul Goyal, Venture Partner, FinSight Ventures, said, “Telemedicine in India is growing at a monumental pace and the pandemic has only further amplified the importance of going digital. MediBuddy is by far the leader in the digital healthcare space in terms of scale, size & customers served; and we are excited to partner with MediBuddy in this growth journey to make high-quality healthcare accessible to a billion Indians.”

 

Mr. Devarajan TP, Managing Director, representative of India Life Sciences Fund III, LLC, on the Board, said, “The Fund is excited about partnering with MediBuddy and its dynamic leadership team with Satish and Enba at the helm. MediBuddy’s e-health platform enables customers access the entire gamut of healthcare services, be it tele-consultation services, lab tests or medicines, across devices. The Fund is particularly heartened by MediBuddy’s efforts at enabling such access in vernacular languages, which will be the key to meeting its mission of serving customers across the length and breadth of the country. Its marquee customer base, consisting of the India operations of several Fortune 500 companies, and many leading insurance companies, is testimony to the quality of services provided. The Fund’s representatives look forward to working with MediBuddy and supporting it in its endeavour to emerge as India’s preferred digital healthcare platform.”

 Ms. Supriya Singh, Director, JAFCO Asia Fund, said, “The telemedicine market in India is a very large growing opportunity and MediBuddy is in a very strong position in this market. They have the most comprehensive platform to address the market needs. JAFCO Asia has been one of the key investors in Teladoc in the US which is right now at USD 38bn in market cap. JAFCO Asia is very proud to be a partner to Satish and Enba in the growth journey for MediBuddy.”

 

Mr. Yousuf Mazhar, Managing Partner, TEAMFund, said, “TEAMFund is very excited to partner with the team at MediBuddy, and is looking forward to helping build out their chronic disease management capabilities for remote patients. MediBuddy has built a first class, frictionless platform that integrates telehealth with essential lab and pharmaceutical services that we believe is amongst the best in the world. This is extremely valuable for patients across the country, and especially for those in rural and low resource areas who benefit from increased efficiency, lower cost, and increased access to specialized services.”

 The digital healthcare platform will utilize the funding in further strengthening its doctor and hospital base, patient reach, product, technology and brand to move a step closer to its mission of providing high-quality healthcare to a billion people. Additionally, the platform has onboarded leading industry professionals over the last few months to drive critical areas, bolstering an already-strong leadership team.


With a network of over 90,000 doctors, 7,000 hospitals, 3,000 diagnostic centres and 2,500 pharmacies, covering over 95% of all pin codes in India, MediBuddy is well-positioned to strengthen its leadership position by providing 24x7 access to a range of healthcare services across India. MediBuddy is truly living up to its name of being a ‘buddy’ who can be trusted to meet all your healthcare needs.




 



 


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