Suite42 plans to use the funding for talent acquisition, the development of the “Suite42 Standard” in the food processing ecosystem, the launch of commodity financing and the piloting of cross-border trade (exports).
Suite42, based in Bengaluru, was founded in 2022 by Rahul Ratan, Ramakrishna Cheruku, Chethan S, Shriram S Rahul and Ramakrishna.
“Our mission is to help food manufacturers in India by leveraging technology and creating efficient and standardized processes. As a result, brands and consumers will have access to premium products and ingredients at affordable prices,” said Ratan, co-founder and CEO of Suite42.
Over the next 18 months, the startup aims to work with various B2B clients, including e-commerce, D2C, FMCG brands, and 2,000 modern outlets across multiple cities.
“The sector is very disorganized with deep inefficiencies. Less than 5% of India’s agricultural production is processed, preventing the realization of profits across value chains. We are thrilled to see Suite42 revitalizing 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 a variety of B2B customers in the consumer packaged goods, food and grocery industries. For food processors, Suite42 claims to aggregate demand, promote better capacity utilization and facilitate low-cost access to working capital.
“Suite42 is building a platform to digitize a food brand’s backend, from sourcing to packaging. The team is targeting massive TAM and managing the entire brand supply chain,” said Vinit Bhansali, Senior Vice President of Orios Venture Partners.