Company Intelligence Profile
Chifu Agritech Private Limited
Chifu Agritech Private Limited operates as "Vegrow," described on its own site as "India's leading B2B fruits marketplace," established 2020 by IIT-alumni founders.
Last updated 6 September 2026
AI-generated summary from public filings and may contain errors. Verify against the detailed sections below.
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Company Identity
Confirmed| Registered name | Chifu Agritech Private Limited |
|---|---|
| CIN | U52202TG2020PTC139550 |
| PAN | AAICC6655N |
| Status | Active |
| Listing |
|
| Incorporated | 26 February 2020 |
| ROC | RoC-Hyderabad / Telangana |
| Sector (NIC) | Descriptive activity only, exact NIC code not obtained: Falconebiz lists "Retail sale of fresh fruits and vegetables" |
| Registered address |
|
| Authorized capital | ₹22.5 lakh / ₹22,64,000 — minor rounding variance between sources, same order of magnitude. |
| Paid-up capital | ₹19,96,845 (~₹19.97-20.0 lakh) — consistent across Tofler and Falconebiz. |
Business Overview
Confirmed- Chifu Agritech Private Limited operates as "Vegrow," described on its own site as "India's leading B2B fruits marketplace," established 2020 by IIT-alumni founders
- It runs a tech-enabled supply chain connecting farmers to buyers (exporters, retailers, processors) — order aggregation, farm/produce matchmaking, and technology-driven grading/quality assurance/logistics — for fruits including apple, banana, pomegranate, grapes, and imported fruit
- Stated aims: maximize farmer income via accurate grading and demand-matching, reduce wastage, and provide digital payments/credit history-building for farmers
- Source: vegrow.in (official site), corroborated by Inc42/YourStory funding coverage
Directors
Partial / conflictingPer Tofler and Falconebiz (2-source agreement) — all also named as co-founders in Inc42/YourStory funding coverage:
| Name | DIN | Role | Appointed |
|---|---|---|---|
| Shobhit Jain | 08711493 | - | 26-Feb-2020 |
| Praneeth Kumar Boganadhula | 08711494 | - | 26-Feb-2020 |
| Mrudhukar Batchu | 07504220 | - | 7-Mar-2022 |
| Kiran Naik Bhukya | 11580666 | - | 25-Mar-2026 |
GST Registrations
Partial / conflicting| GSTIN | State | PAN | Status |
|---|---|---|---|
| 36AAICC6655N1Z1 | Telangana | AAICC6655N (Tofler, Falconebiz, corroborated by GST records under same PAN) | Active |
| 07AAICC6655N1Z2 | Delhi | AAICC6655N (Tofler, Falconebiz, corroborated by GST records under same PAN) | Active |
| 37AAICC6655N1ZZ | Andhra Pradesh | AAICC6655N (Tofler, Falconebiz, corroborated by GST records under same PAN) | Active |
| 29AAICC6655N1ZW | Karnataka | AAICC6655N (Tofler, Falconebiz, corroborated by GST records under same PAN) | - |
| 27AAICC6655N1Z0 | Maharashtra | AAICC6655N (Tofler, Falconebiz, corroborated by GST records under same PAN) | - |
| 08AAICC6655N1Z0 | Rajasthan | AAICC6655N (Tofler, Falconebiz, corroborated by GST records under same PAN) | - |
| 02AAICC6655N1ZC | Himachal Pradesh | AAICC6655N (Tofler, Falconebiz, corroborated by GST records under same PAN) | - |
Company holds GST registrations in multiple states under PAN AAICC6655N (confirmed via Google-indexed KnowYourGST/Masters India/FnShift Solutions pages, cross-checked against the same PAN): - Home state (registered office) Telangana: GSTIN 36AAICC6655N1Z1 — status reported Active. - Delhi: GSTIN 07AAICC6655N1Z2 — Active, effective 1-Apr-2022, Regular taxpayer, principal place F-14, Street No. 29, Mall Road Extension, New Delhi 110033; activities: Bonded Warehouse / Warehouse-Depot / Recipient of Goods or Services (source: Masters India, full detail fetched directly). - Andhra Pradesh: GSTIN 37AAICC6655N1ZZ — Active, effective 28-Jun-2023, principal place Ananthapuramu (source: FnShift Solutions). - Karnataka: GSTIN 29AAICC6655N1ZW (source: FnShift/KnowYourGST snippets). - Maharashtra: GSTIN 27AAICC6655N1Z0 — address City Vista Tower B, Pune (source: KnowYourGST snippet). - Rajasthan: GSTIN 08AAICC6655N1Z0 (source: FnShift snippet). - Himachal Pradesh: GSTIN 02AAICC6655N1ZC — address Shivin Village, Seema P.O., Rohru (source: KnowYourGST snippet). At least 7 state-wise GST registrations identified; actual total may be higher (multi-state warehouse network is consistent with the B2B fruit-trading model). Individual full-page confirmation obtained directly for Delhi and Andhra Pradesh; others rest on search-result snippets from 2 aggregator sites (KnowYourGST, FnShift) so are rated partial pending direct page confirmation.
Financials
Partial / conflictingLatest figures are range-level, not exact (small private company does not publish granular filings on free sources):
- Operating revenue FY2023-24: ₹100 Cr - ₹500 Cr range. A separate estimate put FY ending 31-Mar-2025 revenue at ₹500 Cr-₹1,000 Cr — the two ranges are not fully consistent/overlapping (FY2023-24 vs FY2024-25) and neither should be treated as a confirmed number.
- Margins: Gross margin -4.9%, Operating margin -2.62%, Net profit margin -3.56% (loss-making on these metrics for the reported period) — this contrasts with YourStory/Inc42's Dec-2023 statement that Vegrow had "achieved operational profitability" with a 5x YoY revenue jump; the two claims refer to different periods/metrics and are flagged as a conflict, not reconciled here.
- Net worth grew 121.73% YoY; total assets grew 94.82% YoY; borrowings grew 19.66% YoY.
Standalone vs consolidated basis not specified by source. EBITDA/PAT absolute figures, employee count and net worth in absolute rupee terms: not obtained.
Funding
ConfirmedOperates as "Vegrow." Funding rounds:
- Seed — 15-May-2020 / Jul-2020: ~$2.5M from Matrix Partners India and Ankur Capital (YourStory).
- Series B — Jul-2022: $25M, led by Prosus Ventures, with Z47 (Sequoia India rebrand)/Elevation Capital and others.
- Series C — 1-Dec-2023: $46M (~₹383 Cr, primary + secondary), led by GIC (its first India agritech investment), with Prosus Ventures, Elevation Capital, Lightspeed Venture Partners; secondary exits for Ankur Capital, Titan Capital, Better Capital.
- Series C follow-on — 23-Oct-2025.
- Venture debt — Oct-2025: from VentureSoul — consistent with the ₹20 Cr NCD (ISIN INE0P1H07011) allotted 8-Nov-2024 found on Wint Wealth, though the two debt instruments may not be identical.
Total funding reported ~$86.6M across 7 rounds
In the News
ConfirmedChifu Agritech Number of Employees 2026 | Employee Count & Headcount Data
Revelio Labs · a month ago
Headlines about Chifu Agritech Private Limited reported by third-party publications. Recur Club does not author or endorse this coverage. Last checked 14 days ago.
Source: Google News aggregated headlines
Charges / Loans
Partial / conflictingTofler reports registered charges totaling ~₹102 Cr across multiple lenders: Standard Chartered Bank ₹40 Cr, HSBC ₹26 Cr, ORBIS Trusteeship Services ₹21 Cr (consistent with a debenture trustee role, likely tied to the NCD issuance), ICICI Bank ₹15 Cr. Separately, Wint Wealth lists one privately placed NCD: ISIN INE0P1H07011, issue size ₹20 Cr, coupon 14.5%, allotted 8-Nov-2024, maturing 1-Apr-2026, unrated, status "inactive." Lender-level amounts are single-source — rated partial.
Competitors
Partial / conflictingB2B fresh-produce/agri-marketplace peers (India), with rough scale tags based on general market knowledge (not independently re-verified this session):
- Ninjacart — larger-scale B2B fresh produce supply chain, well-funded unicorn-adjacent player.
- DeHaat — larger, broader full-stack agritech platform (agri-inputs + output market linkage), unicorn-status funding.
- WayCool Foods & Products — larger, multi-category agri-commerce/FMCG player.
- Crofarm / Otipy (Crofarm's B2C arm) — smaller-to-mid scale B2B/B2C fresh produce play.
- Bijak — mid-scale B2B agri-commodity trading marketplace (fintech-enabled).
- Kamatan Farm Tech — smaller-scale B2B fruit/vegetable trading marketplace, closer peer in scale to Vegrow.
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