MangoPoint raises Rs 1.82 crore from The Chennai Angels and others

CHENNAI:

The Chennai Angels

(

TCA

) has led a funding round of Rs 1.82 crore in

MangoPoint

, a company focused on preserving and promoting high quality mangoes and

mango

products from India.


TCA associated with Native Angel Network and Keiretsu Chennai for their first round of investment in MangoPoint.

MangoPoint was founded in 2018 by Manjula Gandhi Rooban and Prasanna Venkatarathnam with the vision of taking India’s national fruit mango on the world stage through fresh mangoes and value-added products. The company provides a sustainable integrated value chain for mangoes with single-origin, carbide-free, chemical-free high-quality fresh mangoes, and processed mango products through sustainable farming, planet-friendly processing and eco-friendly packaging.

Their farm infrastructure coupled with an integration platform provides ethical products delivered to doorsteps with complete transparency and traceability. MangoPoint sells over 20 mango varieties and has thus far delivered more than 500,000 mangoes to over 20,000 happy customers.

"The mentorship, support, network and visibility that these networks and individual investors bring to us is as important as their investment. As the world turns towards a healthier lifestyle - safe and natural products, our range of hand-picked naturally ripened mangoes and value-added products has struck a true chord with our customers. The funds raised will be utilized for adopting latest technologies for pre and post-harvest management through early detection, action and in picking the best Fresh Mangoes and products made thereof for our customers; and for expanding our presence in India and key global markets," Manjula Gandhi Rooban, co-founder, MangoPoint, said.

“Started by GenX IT professionals from a traditional mango trader family, MangoPoint, promotes and markets Indian mangoes and consumables across the world. Their mission is to market naturally ripened mangoes without the calcium carbide chemical that is used for ripening," Balakrishnan Ranganathan, lead investor from The Chennai Angels (CMD, Excelencia iTech Consulting) said.

“We have not seen any organized business that is catering to the passion of mango. Not just as an investor, but also as a customer who orders regularly from Mangopoint, I have first-hand knowledge of the quality of products and services offered by MangoPoint...What attracted me most to MangoPoint is how they leverage tech to build excellence into every aspect of their business, from sourcing to customer delight," Rajan Srikanth, co-president, Keiretsu Chennai (Chairman & MD of SmartKapital) said.

"Manjula and Prasanna have exhibited great insight, planning ability and execution track record in their journey so far. The participation by three diverse investment networks in the company is indeed the validation of the sector and the business model and also an endorsement of the confidence in the promoter team," Madhu Vasudevan, Karur-based textile entrepreneur, agriculture enthusiast, and lead investor from Native Angel Network said.