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New Deal


Announced

Completed

GIC led a $46m Series C funding round in Vegrow.

Financials

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Transaction Value£36m
Consideration TypeCash
Capital Owned-
Capital Bid For-
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Acquisition

Private

Completed

Friendly

Single Bidder

India

agri-tech

Production Technology Equipment

Venture Capital

Minority

Private Equity

Cross Border

Synopsis

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GIC, a sovereign wealth fund established by the Government of Singapore, led a $46m Series C funding round in Vegrow, an agri-tech company focussed on fresh fruit trade, both domestic and exports, with participation from, Prosus Ventures, Matrix Partners India, Elevation Capital, and Lightspeed. "Vegrow is committed to making a positive impact for both farmers and the planet. Our ambition is to establish ourselves as the undisputed leader in every fruit category, ensuring transparency and higher income for farmers, while also reducing carbon consumption through supply chain optimization. We are excited to work with GIC, whose long-term vision and reputed global network can contribute to building a company that will last generations. We are also grateful for the continued support from our existing investors. As we focus on long-term institutional development and enhancing value for all stakeholders, we are excited for what the future holds," Shobhit Jain, Vegrow Co-founder.

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