Poshn secures $6 million in pre-Series A round to expand its business

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Foodtech startup Poshn announced that it has raised $4 million in equity and $2 million in debt in a pre-Series A funding round. This takes its total funds raised to $8 million in equity. The company plans to use the fresh funds to expand the business to Southeast Asian and Middle Eastern Countries. It also aims to build an innovative stack of solutions that will address the gaps in the system.

Co-founder of the company, Shashank Singh said, "Now Southeast Asia, and specifically India, has been the food basket to the world, there is a lot of exports in agro commodities that happen from India, and that requires a specific set of solutions to be built in. We are looking to go very aggressively on the import and export market which would mean that we need to build in those capacities ourselves from the tech stack perspective. So a lot of guys we are adding to build that tech stack specifically for import and exports. And other than that we will require specific talent also to come in will, which will help us expand that footprint."

Meanwhile, home improvement platform Arrivae has raised ₹21 crore from CaratLane founder, Mithun Sacheti. Sacheti will also join the board of the company. Founded in 2018, Arrivae provides end-to-end, design-to-manufacturing services for home interiors and improvements. The company claims to have a catalogue of over a million elements. Startup Street spoke to Yash Kela, Founder of Arrivae on how Arrivae is bundling furniture and furnishings with financing.