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Wingreens Farms Private Limited has raised Rs 125 crore in Series B funding led by Zurich-based private equity fund, responsAbility Investments AG.
The company’s existing investor, Sequoia India, also participated in the round, the company said in a statement.
Wingreens, which currently employs over 300 women across their production facilities and stores. It plans to use the investment to expand the back-end farming and food processing model as well as to further employ and empower a larger section of under-privileged women.
responsAbility Investments is one of the leading impact-oriented private investors managing assets worth $3 billion spread across 90 countries with investments across sectors such as food & agriculture, finance and energy across emerging markets.
Akshay Dua, responsAbility – Head of Private Equity, Asia Pacific - Food & Agri, who is joining the board of Wingreens said, “We like the FMCG sector given the strong drivers of an expanding middle class with an increasing disposable income. The founders’ experience in creating marquee brands in the past, coupled with Anju Srivastava, the Founder and Managing Director’s passion in making a difference in the agriculture sector results in a strong, sustainable business model.”
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