Poshn Introduces Innovative Platform for Food and Agriculture Sector

Poshn, a prominent player in the food and agriculture value chain, has recently launched a groundbreaking platform designed to match buyers' procurement demands with the most suitable fulfillment partners.

Within the next 12 months, the company aims to onboard over three lakhs wholesale SME sellers onto this innovative platform, with more than 300 sellers already participating in the successful pilot stage. These suppliers are primarily involved in processing food and agro commodities, while the buyers consist of wholesale purchasers seeking these products.

Shashank Singh, Co-founder of Poshn, emphasized the importance of simplifying the distribution process in response to the increasingly complex value chain. He expressed confidence in the transformative potential of this technology, envisioning its ability to streamline the $800 billion food and agro trading industry.

The newly launched platform, named Poshn Nucleus, enables the company to gain complete control over the value chain without relying on an inventory-heavy model. This operational flexibility will facilitate seamless expansion across geographies and commodities.

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Poshn, which originated in 2020 as a part-time project by Singh, an IIM graduate, and Bhuvnesh Gupta, an XLRI alumnus, has evolved into an agri-trading platform specializing in wholesale processed commodity distribution and financing. Officially launched in June 2021, the company has successfully secured approximately $4.5 million in seed funding from Prime Ventures and Zephyr Peacock.

The proprietary technology of Poshn Nucleus empowers users with a range of functionalities, including reverse auctioning, order processing, logistics optimization, and payment processing. By harnessing the power of machine learning, data, and analytics, the platform simplifies the complex process of distributing commodities.

Through its advanced algorithms and machine learning models, the platform efficiently matches buyer demand requests with fulfillment partners, generating specific recommendations that provide buyers with the best-priced products and the shortest possible delivery times.

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Ashirvad Singh, the head of technology at Poshn and the mastermind behind Poshn Nucleus, expressed pride in developing a highly modular, open, and scalable digital ecosystem for food and agro commodities distribution. Additionally, the company is actively exploring the application of blockchain technology for specific use cases to ensure accountability and traceability throughout the value chain, effectively mitigating slippage and losses.

Poshn Nucleus additionally supports a range of operations such as generating orders, monitoring their progress, overseeing deliveries and refunds, as well as managing cash flow. The company foresees its annual recurring revenue exceeding $1 billion during the ongoing fiscal year.

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