MangoPoint, a Chennai-based mango exporter, has raised $1 million in a pre-Series A funding round led by Inflection Point Ventures, an angel investing platform.
The round also saw participation from The Chennai Angels, Native Angel Network, Keiretsu Forum India, Fondation Botnar, IIM-CAN, Metis Family Office and JITO Incubation and Innovation Foundation (JIIF).
The funds raised will be used to expand farmgate infrastructures, develop a waste-to-value category with mango ingredients for food, pharma and cosmetic industries, enhance scalability, reach additional markets, strengthen the backend and increase the product portfolio.
Founded in 2018 by Manjula Gandhi Rooban and Prasanna Venkatarathnam, Mangopoint is a premium exporter of chemical-free and carbide-free mangoes. Mangopoint exports single-origin Indian mangoes as well as processed mango goods, primarily serving China, North America and Europe.
The business is already handling more than 2,000 MT of mangoes a year, and it plans to expand to 20,000 MT in the upcoming years.
Manjula Gandhi Rooban, Founder & MD, MangoPoint, said, “We are excited with our journey and partnership with IPV and other investors in this funding round. This investment will significantly enhance our network, broaden our market reach, and drive scalability. We are optimistic about the exciting opportunities this opens beyond our core Fresh Mangoes business, enabling us to innovate and build a robust mango value chain with processed products and mango-based ingredients, positioning us as a unique leader in the industry.”
Mitesh Shah, Co-Founder, IPV said, “Despite Indian mangoes being among the finest in the world, they lag behind in terms of making their international presence felt, due to poor post-harvest handling, disorganized supply chain, inadequate storage, and transportation infrastructure affecting quality and international competitiveness. MangoPoint is resolving this by streamlining the supply chain, introducing international grade quality control and establishing post-harvest infrastructure, thus bringing the Indian king of fruits on the global market’s palate.”
