Wingify In­vests in Vegfru

A roundup of top startup fund­ing deals of the day

The Economic Times - - Disruption: - Shash­wati.Shankar @times­group.com

Bengaluru: En­ter­prise soft­ware mak­ers Wingify made an undis­closed in­vest­ment in Vegfru, an on­line B2B mar­ket­place for fruit and vegetable trade.

The startup con­nects buy­ers, specif­i­cally re­tail­ers and restau­rant own­ers to sell­ers or sup­pli­ers, for in­stance the farm­ers.

Presently, the startup has over 5,000 sup­pli­ers and buy­ers on the por­tal and fo­cuses on tak­ing care of the lo­gis­tics and pack­ag­ing ser­vices.

Ac­cord­ing to Paras Cho­pra, founder of Wingify, the start up sees over 60 or­ders a week and func­tions on a sub­scrip­tion-based model, charg­ing a ser­vice fee rang­ing 4-5% per trans­ac­tion. “There is a lot of po­ten­tial for growth in this space, the size of this cat­e­gory could run into a few mil­lion dol­lars,” added Cho­pra.

The startup is fo­cus­ing on cre­at­ing a pan In­dia pres­ence and is con­sid­er­ing forg­ing part­ner­ships with star­tups like Gro­fers and other firms.

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