Lawrencedale Agro, the Leaf operator, a prominent supplier of branded vegetables and fruits, has raised a huge amount of around $8 million from various investors. George Soros-backed Aspada Investments is the primary investor along with Anders Holch Povlsen, the owner of Vero Moda fashion chain and Unitus Impact, the US-based social impact investment fund.
The series B funding will be used by the company on its supplies to leading online, and offline grocery chains like Godrej owned Nature’s Basket, Reliance Fresh in South India, Spencer’s and various BigBasket’s warehouses. Mom-and-Pop stores are also supplied by the company in Kerala, Tamil Nadu, and Karnataka.
According to a report in Economic Times, Lawrencedale Agro has total sales of around Rs. 17 crores in the last financial year. Fresh round of funding has been confirmed by the Leaf’s founder Vijayaraghavan Palat.