S4S Technologies announces $1.75 Million pre-series A from Acumen, Factor[e] Ventures, and Centre for the Spread of Affordable Wellness (C-SAW)
Agriculture supply chain venture receives funding to empower more rural women with solar dehydration technology and reduce food waste across India
13 Nov, 2020, 16:24 ET
MUMBAI, India, Nov. 13, 2020 /PRNewswire/ -- S4S Technologies is a Mumbai-based company using innovative technology to restore and add value to India's inefficient agricultural supply chain. The company closed a $1.75 Million pre-series A round on October 16, 2020 led by Acumen Fund and joined by return investor Factor[e] Ventures and (C-SAW) to expand into new markets and improve their technology and consumable product offerings.
Factor[e] Ventures first invested in S4S in 2018 when the company was comprised of Dr. Vaibhav Tidke and a group of technical and operational experts aspiring to empower rural women and reduce food waste with their patented solar conduction dryer. The UN award winning technology allows agri-entrepreneurs to easily dehydrate produce, extending its shelf life up to one year without any chemicals. Today, S4S offers a suite of solutions across the value chain to improve the way produce is graded, sorted, preserved, processed, and consumed by over one million people in India. They are supporting hundreds of female agri-entrepreneurs, providing dehydrated products to over 650 industry customers including global food brands like Nestle, Sodexo, Indian Railways, Marico and have successfully piloted their solar conduction dryer in 14 countries.
The funds from the pre-Series A will be used to further develop their network of rural women drying partners, expand their dehydrated product customer base, and optimize their core business systems to prepare for rapid growth in the future.
"S4S has great potential across crops and value chains to create additional stable income for farmers and women—all while providing phenomenally convenient and flexible ingredients to packaged food players and restaurants. The business has huge potential to grow across different agricultural value chains while being environmentally positive," says Acumen India Director Mahesh Yagnaraman.
"We are thrilled with the progress that the S4S team has made since we first invested," commented Seth Silverman, Principal from Factor[e] Ventures. "S4S is transforming agricultural value chains in India and dramatically improving the lives of their rural women partners while meeting the demand for healthy food, which is growing exponentially. Doubling down on S4S was a no-brainer for us."
"The Indian agri supply chain is fragmented and inefficient. At S4S, we process at farm gate to create value-engineered food products. These food products are convenient to use, shelf-stable, and save money. This sustainable supply chain eliminates the middlemen and allows S4S to work with farmers and customers directly. We are happy to partner with Acumen Fund, Factor[e] Ventures, and CSAW," shared S4S Technologies CEO, Dr. Vaibhav Tidke.
"At C-SAW, we believe in a world where farmers prosper, consumers eat healthy and food companies are transformed. The S4S business model is whole-heartedly aligned with our mission, and we are glad to be a part of this journey," beamed Ashok Vasudevan, founder of C-SAW, and also the Chairman and founder of the popular Tasty Bite consumer foods brand.
About S4S Technologies
S4S Technologies is a Mumbai-based company focused on restoring and adding value to the agricultural supply chain in India. They create innovative technologies designed to preserve and process high quality foods that are sold to a range of clients. To learn more: https://s4stechnologies.com/
Nidhi Pant – [email protected]
SOURCE S4S Technologies
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