Tazah Technologies has managed to raise another $4.5 million in its pre-seed round. The B2B fresh produce marketplace, Tazah Technologies initially raised $2 million in October. The round was co-led by Pakistan’s Fatima Gobi Ventures (FGV) and US-based Vibe Capital and also joined by Shorooq Partners, Nuwa Capital, Ru-net, Alter Global, Julian Capital, Kinnow Capital, Early Grey Capital, and K3 Fund. There were several pther investors present as well from the Silicon Valley including Sahil Bloom, Siqi Chen, Matt Brezina, and many others.
Read more here: Tazah Technologies – Revolutionizing the Tech-Agriculture Sector
According to Profit Pakistan it is confirmed that $4.5 raised in the fresh round. Tazah Technologies was founded in August 2021 by two ex-Careem executives Abrar Bajwa and Mohsin Zaka. The aim of Tazah Technologies is to connect farmers directly with fruit and vegetable retailers. This will eventually eliminate the traditional middlemen and wholesalers. In turn, the prices at which retailers are able to buy from farmers are better.
The company also has a storage and delivery service which helps it deliver directly to retailers and they dont have to go buy it early in the monrng, which eventually makes the quality of products better.
According Abrar Bajwa, co-founder of Tazah,
“It is a hard space and there are challenges of execution on every scale. It is going to get difficult to execute at scale and we believe that we have the best team to scale quickly”
Futhermore, Abrar stated,
“With the technology and talent pedigree that we are building, we believe that expanding into regional markets with similar dynamics is a logical move.”
Mohsin Zaka, Co-Founder of Tazah, said:
“Our experience of leading large national teams and growing complex marketplaces has helped us tremendously in quickly scaling our business and building the capability to manage multi-city operations. We have also built a very strong founding team by acquiring the best talent from different industries.”
Ankur Nagpal, Founder of Vibe Capital said,
“The company is growing really fast and on track to hit eight figures in annualized GMV in the next couple of months and that still represents a very small percentage of the overall market. What we are most excited about is the ability to build additional products (particularly financial products) for this market. For instance, Tazah is in a great position to start extending lines of credit to their business buyers that they pay off after reselling the inventory.”
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