The Chennai-headquartered MangoPoint, a company that focuses on preserving and promoting high quality mangoes and mango-based products, has received funding of ₹1.82 crore from The Chennai Angels (TCA) and other investors. TCA has associated withNative Angel Networkand Keiretsu Chennai for this round of investment.
Founded in 2018 by Manjula Gandhi Rooban and Prasanna Venkatarathnam, MangoPoint intends to take Indian mangoes and value added products to the global markets. MangoPoint sells over 20 mango varieties which are procured from farmers from across India and has till date delivered more than five lakh mangoes to over 20,000 customers. Though the company was incorporated in 2018 the actual business began in 2020 as the founders were getting their infrastructure and other systems in place.
“The funds raised will be utilised for adopting latest technologies for pre and post-harvest management. We are looking at technologies which will help us do grading and quality checks faster,” says Ms. Rooban. Plans are on to expand to newer market within India and other global markets as well.
“Currently we export to Singapore and Middle East. In the coming months our focus will be on Europe, U.K. and the U.S. Within India we will foray into Hyderabad, Mumbai and Delhi markets,” she added.
Balakrishnan Ranganathan, lead investor from TCA and CMD, Excelencia iTech Consulting, said, “Started by GenX IT professionals from a traditional mango trader family, MangoPoint’s mission is to market naturally ripened mangoes without the calcium carbide chemical that is used for ripening.”
“What attracted me most to MangoPoint is how they leverage tech to build excellence into every aspect of their business,” said Rajan Srikanth, co-president, Keiretsu Chennai and Chairman and Managing Director of SmartKapital.
Founded in the year 2007, TCA, one of the active angel investing groups in Tamil Nadu, has invested in over 60 start-ups.