Eggoz Secures Rs 125 Crore in Series C Funding Round

Eggoz, a prominent consumer brand for eggs, is successfully raising Rs 125 crore, approximately $14.7 million, in its Series C funding round. This round is led by Gaja Capital, with existing investors IvyCap Ventures and Redbright Partners also taking part.

The board at Eggoz has approved a special resolution to issue 1 equity share and 15,334 Series C preference shares at a price of Rs 81,511 each, aimed at raising Rs 125 crore or $14.7 million, as per the regulatory filing obtained from the Registrar of Companies (RoC).

In this funding round, Gaja Capital will lead with an investment of Rs 100 crore, while IvyCap Ventures and Redbright Partners will contribute Rs 20.95 crore and Rs 4.05 crore, respectively.

According to estimates by Startup Superb, the valuation of the company post-money will be around Rs 480-500 crore or $55-58 million. This represents a significant 60% increase in valuation compared to the previous funding round.

About Eggoz

Founded in 2017 in Bihar by Abhishek Negi, Aditya Singh, and Uttam Kumar, Eggoz operates using an asset-light, farmer-led model that guarantees fresh eggs reach retailers within 24 hours. The brand has expanded its presence across various cities including Delhi-NCR, Bengaluru, Kolkata, Jaipur, Lucknow, and numerous non-metro areas. To diversify, Eggoz has also ventured into ready-to-cook products, offering items such as momos, burger patties, and nuggets.

Funding Overview

To date, Eggoz has raised over $27 million in total funding. This includes an $8.8 million Series B funding round led by IvyCap Ventures. Prior rounds encompassed a $3.5 million investment in the Series A round and Rs 3.7 crore during its seed stage.

Financial Performance

The company has yet to disclose its FY25 financial results. However, Eggoz reported a 33.6% increase in revenue year-on-year, amounting to Rs 73.1 crore in FY24, while the firm managed to reduce its losses by 24% to Rs 25 crore during the same period.