Produze, an agtech startup that aims to connect farm producers and international retailers, raised $2.6 million in seed funding on August 9, led by Accel and All In Capital venture capital firms.

Produze co-founder and Chief Executive Officer (CEO) Ben Mathew said in a virtual interaction with Moneycontrol that the funds raised would be used to build distribution capabilities, expand sourcing and strengthen Produze’s technology team.

Founded in February 2022 by former Ninjacart executives Mathew and Gaurav Agrawal along with Rakesh Sasidharan and Emil Soman, Produze is a B2B (business-to-business) platform that enables agricultural producers, including farmers, processors and packers, to directly Sold to international retailers.

Mathew said Produze’s platform is live, and retailers and agricultural producers are invited to apply.

Produze is designed to help manufacturers and retailers with higher-margin international distribution provide accessible, affordable, high-quality products.

In a statement, the company said it would serve multiple agricultural product categories in North America, Europe and the Middle East, serving what it claims is a $143 billion market.

According to Mathew, Produze’s team is currently eight people, including the founders, and they plan to use more technology and fewer people even as they scale.

The co-founder said that in a B2B business like Produze, it’s important to prioritize profitability and growth as a by-product of the process. “Unlike a B2C business, where you may not be profitable initially and then collect profits from your customers, in B2B, it’s very important to be profitable from the start,” Matthew said.

Produze’s seed round also featured angel investors such as Ninjacart CEO Thirukumaran Nagarajan, Fashinza CEO Pawan Gupta and CityMall co-founder Angad Kikla, among others.