Lahore-headquartered business-to-business fresh produce marketplace Tazah has raised $2 million in a pre-seed round co-led by Global Founders Capital and Zayn Capital, it announced on Wednesday. Ratio Ventures, Walled City Co., i2i Ventures, Suya Ventures, Globibest, Afropreneur Syndicate, +92 Ventures, Sunu Capital, Musha Investments, Mezan Foods, and senior executives of Careem and Swvl also participated in the deal, noted the agritech startup in a statement, adding that the round was ‘massively oversubscribed’.
Founded a few months ago by former Careem executives Abrar Bajwa and Mohsin Zaka, Tazah is looking to solve inefficiencies in the agricultural supply chain of Pakistan by connecting farmers with businesses (and eventually consumers) and help them sell fresh produce to them through its tech-enabled platform. The startup has started with ginger, garlic, tomatoes, and onions, and plans to add more vegetables and also introduce fruits over the next few months.
Tazah is doing this by using a managed marketplace model where it guarantees the quality of the produce by screening it. It is already serving about 300 businesses and individual sellers of different sizes in Lahore, helping them procure their inventory of produce it sells. In a statement, the startup claimed to have a high customer retention rate, without sharing further details.
Abrar Bajwa, the co-founder of Tazah, who previously worked in leadership roles for Careem and Swvl in Pakistan, said, “We are...
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