Funding Announcement for Foodtech Startup Fambo
The foodtech startup Fambo has successfully secured Rs 21 crore ($2.5 million) in a pre-Series A funding round. This round was led by EV2 Ventures, with additional contributions from Rajesh Sawhney and several Ultra High Net Worth Individuals (UHNIs).
According to a press release, the funds will be used to:
- Expand operations throughout India
- Establish an export division
- Invest in technology advancements
- Enhance the network of partner farms
About Fambo
Established in 2022 by Akshay Tripathi and Sudarshan Satle, Fambo is committed to revolutionising food systems through innovative technology. The company leverages its AI-enabled platform to ensure traceability of fresh produce from farms to restaurants, while adhering to stringent food safety standards including GAP, FSSAI, ISO, and NSF.
Fambo’s diverse product range includes:
- Fresh produce
- Sauces
- Gravies
- Frozen items
- Fried products
Connecting Farmers with Food Service Providers
The Noida-based startup directly connects farmers to restaurants, hotels, and cloud kitchens via its AI-enabled platform, guaranteeing fresh produce, reducing waste, and maintaining high-quality standards. Fambo operates a modern micro-processing centre that provides semi-processed food items, aiding food service businesses in:
- Reducing costs
- Ensuring consistency
- Simplifying operations
AI-Powered Supply Chain Management
Fambo asserts that its AI-driven platform enables restaurants to:
- Manage inventory
- Purchase ingredients
- Maintain a reliable supply chain with traceability
The platform also facilitates strategic sourcing and offers temperature-controlled logistics for timely deliveries from farms directly to restaurants.
Clientele and Future Plans
Fambo currently services over 500 restaurants and cloud kitchens, including well-known brands such as Burger King, McDonald’s, California Burrito, Burger Singh, Farzi Café, and Barbeque Nation. The company reported a revenue of Rs 18 crore for the calendar year 2024 and achieved profitability in Q3 FY 2024-25. Fambo is also focusing on research and development in partnerships with Indian and international universities to innovate new food categories and reach a broader customer base.