Suite42 plans to use the funding for talent acquisition, developing the ‘Suite42 Standard’ in the food processing ecosystem, launching raw material financing, and piloting cross-border trade (exports).
Bengaluru-based Suite42 was founded in 2022 by Rahul Ratan, Ramakrishna Cheruku, Chethan S, Shriram S Rahul, and Ramakrishna.
“Our mission is to food manufacturers in India by leveraging technology and building efficient and standardised processes. Consequently, brands and consumers will have access to premium products and ingredients at affordable prices,” said Ratan, cofounder and chief executive officer (CEO) of Suite42.
In the next 18 months, the startup aims to work with various B2B clients, including ecommerce, D2Cs, FMCG brands, and 2,000 modern trade outlets across multiple cities.
“The sector is highly unorganised with deep inefficiencies. Less than 5% of India’s agricultural output is processed, preventing the realisation of profits across the value chains. We are excited to see Suite42 revitalise the food processing space in India,” said Jinesh Shah, managing partner of Omnivore.
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Suite42 provides contract manufacturing solutions for food processing, serving diverse B2B clients across the FMCG, agribusiness, and grocery industries. For the food processors, Suite42 claims to be aggregating demand, driving better capacity utilisation and facilitating low-cost access to working capital.
“Suite42 is building a platform to digitise the backend of a food brand from procurement to packaging. The team is targeting a massive TAM and managing the entire supply chain for the brand,” said Vinit Bhansali, senior vice president of Orios Venture Partners.
