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Health conscious lifestyle is the new trend. People are adopting healthier lifestyles and nutritious diets. They have become good customers of health focussed brands. Eggs are nutritionally rich, that supplies almost every nutrient needed for a healthy body. They are useful sources of some of the hard to get nutrients like vitamins D, B12, and the mineral iodine.
Eggoz Nutrition is a startup creating awareness about consuming healthier eggs. It delivers fresh and chemical-free eggs from lay to the table within 24 hours. They are produced in tech-enabled & nutrition-engineered deep integration partnerships with farmers. They have introduced new enriched variants of eggs.
Know the startup story of Eggoz, its founders, funding details, business model, competitors, and more.
Eggoz Nutrition - Company Highlights
| Startup Name | Eggoz Nutrition |
|---|---|
| Headquarters | Gurugram |
| Industry | FMCG |
| Founder | Abhishek Negi, Uttam Kumar, Aditya Singh, and Pankaj Pandey |
| Founded | 2017 |
| Website | eggoz.in |
Eggoz Nutrition - About
Eggoz Nutrition - Industry
Eggoz Nutrition - Founders and Team
Eggoz Nutrition - Startup Story
Eggoz Nutrition - Products & Services
Eggoz Nutrition - Business Model
Eggoz Nutrition - Customer Acquisition
Eggoz Nutrition - Funding
Eggoz Nutrition - Advisors
Eggoz Nutrition - Challenges Faced
Eggoz Nutrition - Marketing Campaign
Eggoz Nutrition - Competitors
Eggoz Nutrition - Tools Used in the Company
Eggoz Nutrition - Recognition and Achievements
Eggoz Nutrition - Future Plans
Eggoz Nutrition - About
Eggoz Nutrition was incepted with a vision of helping society with free from anti-biotic, farm-fresh eggs at the doorsteps of consumers across the country. Also, Eggoz is committed to increasing farmers’ profitability by providing them technological, strategic, and business consulting support. Their strategic collaborations with both urban and rural farms helped them overcome many operational challenges and achieving the company’s vision.
Since all the operations mainly depend on state-of-art technology to ensure the collection of reliable data and real-time monitoring of the egg farms, Eggoz successfully deals with issues such as low production, inadequate storage capacity and disorganized distribution channel.
Backed by visionary leadership and a proficient team, Eggoz is setting new quality standards in the industry and enjoying a good market share. And, with the motto of 'Happy Hens, Healthier Eggs’, Eggoz is winning the hearts of health-conscious consumers. Recently, the company received Series-A funding of $3.5 million, led by NABVENTURES, a VC fund anchored by NABARD. Other funding participants include top names like Avaana Capital, Rebright Partners and Bellerive Capital along with angel investors Sanjiv Rangrass and Indresh Saluja.
Eggoz Nutrition - Industry
There is an upward trend in people adopting healthier lifestyles and nutritious diets in the Tier-I and Tier-II cities. Moreover, these cities are also advancing into bigger markets leading to opening up humongous business opportunities, and Eggoz is doing its best to tap these opportunities.
Eggoz aims to eventually expand its network to different parts of India to reach millions of buyers. The company also intends to streamline its onboarding experience for farmers, where they will get access to tech information, veterinarian advisory support, and other resources to improve productivity. Eggoz is determined to have a significant Pan India presence in the next 2 years with brand development and market expansion.
Eggoz is investing in building the category and spreading awareness about fresh and healthier eggs. Company plans to expand the technology and platform offerings to its partner farmers and support with more aspects of farming lifecycle.
In the last five years, Eggoz has emerged as the first egg brand in India that focuses on freshness, nutrient-profile, and quality of egg produce. And, Mr. Negi’s vision to ensure profitability for rural farmers and expand the network of Eggoz to various cities and towns, is witnessing a palpable realization.
Eggoz Nutrition - Founders and Team
Abhishek Negi, Uttam Kumar, Aditya Singh, and Pankaj Pandey are founders of EggoZ Nutrition.
Abhishek Negi is an alumnus of the prestigious Indian Institute of Technology, Kharagpur. After getting his engineering degree, Mr. Negi started his journey with Vodafone and was involved in stints spanning across sales, retail, technology, finance & supply chain. With an eye on developing a home-grown and unique brand, he co-founded Roder in Delhi. Roder was an outstation transport service, which changed the overall customers’ approach to booking single-sided intercity journeys. Inspired by many other ambitious & futuristic entrepreneurs, Mr. Negi started Eggoz with his partners - Uttam Kumar, Aditya Singh, and Pankaj Pandey in 2017. Eggoz has emerged as the first egg brand in India that focuses on freshness, nutrient-profile, and quality of egg produce. Mr. Negi’s vision is to ensure profitability for rural farmers and expand the network of Eggoz to various cities and towns, including Tier-II and Tier-III cities.
In the future, Mr. Negi hopes to develop Eggoz into a brand that customers can rely on, not merely for the quality of product but also for the brand’s practices. Eggoz will eventually allow consumers to express their solidarity with rural farmers, who have been struggling with effective distribution of egg produce for years now. Apart from his current ventures, Mr. Negi also hopes to nurture and support other entrepreneurs and startups in exploring the Indian market through his expertise.
Eggoz Nutrition - Startup Story
Growing up, Abhishek has always been fond of eating eggs on a daily basis. After departing from his first start up, keeping fit and eating healthy became his primary goals and it was during this phase that he realized the impact of protein rich diet. He could not my get hands on freshly sourced and good quality eggs. The ones that he obtained in Gurgaon were either stale or exposed to chemicals, making them detrimental for health. These facts are bewildering for a nation, where the consumption of eggs is exponentially rising with the current figures standing tall at 86 eggs per person each year. However, a mighty chunk of these eggs do not qualify quality checks, are sold in unpackaged form and are stripped off 50 to 60 per cent of the minimum nutritional value. Eggoz, he along with other founders collated this data after extensive analysis, which was conducted by experts by studying egg samples sourced from all across India. It was also found that other factors such as delay in harvesting of eggs, failure in implementation of cold chain and regular use of antibiotics, growth hormones and detrimental chemicals, also contribute in making of eggs that lack freshness and quality.
After perceiving the changing consumer preferences and the inevitable market shift towards packaged goods, it was only prudent to invest in this untapped market. Although they had their prior market research and figures in place, members of the founding team had to toil hard in the farms in order to gain on-ground insights and experience. Working with a company that owned a 12,000 bird farm initially gave them the appropriate acumen to comprehend the nitty-gritty of poultry farming such as setting up the farm, deployment of day old chicks, vaccination procedure, feed formulation, egg sales, diagnosis etc. This gave business plan the impetus to gradually migrate to a robust and technology backed farming installations at any poultry farm to get standardized output. By the end of 2019, business operations of Eggoz rose exponentially asthey joined forces with 6 farms and had amassed a bird capacity of 80,000. Amidst pandemic, because of high level quality checks including UV-sanitization treatments and omni-channel distribution networks, Eggoz continued to acquire more market share by expanding into 6 cities across 5 North Indian states.
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Eggoz Nutrition - Products & Services
Eggoz brings to the table finest quality eggs, which are freshly sourced, treated with UV- sanitization after procurement, rich with bio-available protein and vitamins, and are free from avoidable hormones, antibiotics, and chemicals. The robust integrated model of Eggoz allows to collaborate with farmers and deploy IoT & technology backed applications, reducing the gap in the procurement and supply of eggs in just 24 hours.
Another glaring concern that Eggoz has tried to address is the unavailability of effective backward market linkages for poultry farmers, and lack of hygienic and packaged format of eggs sale. Transparency and ability to incorporate technology oriented solutions have led to an efficient supply chain management and this is what makes the startup stand out in the egg farming industry. Maintenance of top level quality checks, real time monitoring of birds coupled regular doctor visits and audits of the farm and widespread omnichannel distribution channel is inextricably linked to satisfaction of customers, income amelioration of farmers and credibility of Eggoz company.
Eggoz Nutrition - Business Model
Eggoz is a vertically integrated farm-to-consumer startup, which had adopted an asset-light business model in order to unite with small and mid-scale farmers. By virtue of this collaboration, the farmers are on-boarded to a streamlined program where they receive technological support, and other auxiliary aid such as veterinarian visits and audits. With this structure the goal is to bring superior quality eggs sourced from farms under the brand of Eggoz and cater it to the urban and semi-urban consumers. With an omnichannel distribution model in place, the company can ensure widespread presence through D2C, Online MTs, Offline MTs and General trade.
Eggoz Nutrition - Customer Acquisition
When Eggoz was started, the plan was clear that getting hold of the first 100 customers will be toilsome, but if done smartly these 100 customers would prove to be the most paramount. Within 2.5 years of establishing the company, their farming integration model had witnessed two major launches amassing a bird capacity of 1,00,000 and 10 farms. Their visions and operations at Eggoz was backed by angel investment worth INR 1.2 crore during its inception in 2017 and seed funding of INR 2.2 crore in 2019. The company’s stable and ever increasing return on investment and improving farm performance was the reason behind Eggoz’s brand expansion to six cities across five north Indian states in the year 2021. By delivering consistent fresh quality, they started to gain significant traction among consumers.
Eggoz soon rose to fame because of its prompt delivery of fresh and packaged eggs straight from farm under a time frame of 24 hours of laying. Moreover, growing health consciousness and significant upsurge in demand for hygienic and packaged eggs has worked in favor of Eggoz’s business goals. With the aim of accomplishing first nationwide farm-to-consumer brand that is centered around superior quality, high bioavailable nutrition and freshness, Eggoz has struck a chord with the Indian demographic.
Eggoz Nutrition - Funding
| Date | Stage | Amount | Investors |
|---|---|---|---|
| 2021 | Series A | $3.5 Million | NABVENTURES |
| 2019 | Seed Funding | $2.2 Million | |
| 2017 | Angel Funding | $1.2 Million |
Eggoz was started in 2017, the strategic and tactical business plan was found worthy enough to secure an angel funding of $1.2 million by Sanjiv Rangrass and Indresh Saluja. The financial succor provided by angel investors helped lay the foundation of the company and aided the running of its operations on earliest of their farms. In 2017-2018, Eggoz had begun its foremost expansion plans in the state of Madhya Pradesh and had acquired a total of 60,000 birds resulting in a major return on investment. In 2019 as its popularity grew, they procured a massive seed funding amounting to $2.2 Million. The funds were extremely valuable for a budding company like Eggoz, not only did they envisage to work closely with the farmers and improve their egg productivity by introducing technology backed solution, but they also had to enhance farmer profitability through innovative and extensive market linkages. Ever since they have contemplated for diversifying Eggoz product portfolio, there has been an upswing in its demand. This has made the startup raise a series-A funding of $3.5 Million, led by NABVENTURES. With this funding, Eggoz intends to increase its brand footprint, launch egg-based value-added products, and enter new geographies.
Eggoz Nutrition - Advisors
The company kick started with the four business enthusiasts coming together and ever since that it has remained like that. With a highly proficient team, the company has become competent to abreast any uncertainty ranging from on-field problems, technology support, appraisal of business plans or even social media marketing.
Eggoz Nutrition - Challenges Faced
When founders set up Eggoz, the founding team did not have requisite knowledge and expertise in poultry farming. This certainly was one of the setbacks when they started which they had to address so as to deploy high yielding farm. Working on ground helped them gain the required knowledge and made Eggoz team competent to determine how to upgrade the farms with technology oriented solutions. As soon as they acquired this intelligence, Eggoz was prepared to scale-up its production facilities and extend its supply chains.
In its early days, Eggoz founders were experimenting with various kinds of feed ingredients which were natural, protein rich as well as better for the hens. However, scaling the production of such ingredients was a major challenge due to the nature of its production. This is why, they decided to shelf this plan for later.
Eggoz Nutrition - Marketing Campaign
Recently Eggoz has launched a campaign “Extra in the Ordinary” which aims at uplifting the spirit of Indian diaspora enabling them to recognize their true potential. There is an increasing demand for hygienic and decontaminated perishable eatables. This is why with “Extra in the Ordinary” campaign is important to emphasize the fact how a daily dose of Eggoz nutrition helps make people Extra In The Ordinary.
This campaign was instrumental in enlarging the consumer base, increase the brand’s credibility, acquire new consumers, and raise awareness about how essential it is to consume superior quality and standard quality eggs.
Eggoz Nutrition - Competitors
In India, Eggoz’s main competitors are:
- Eggee
- Suguna Foods
- Bajaj S.K.
- Country Delight
- Licious
Eggoz Nutrition - Tools Used in the Company
The crux of Eggoz was always adaptation of technology oriented solutions in poultry for high yielding egg farms. And they stuck to their plan ensuring real time monitoring of farms to identify and assess the deviations that may influence the quality and productivity of eggs and farm respectively. Data played an important role in optimizing the bird performance and making business forecasts. As a start-up they were aware that they needed a solid customer relationship management plan in place in order to centralize all business activities and keep them customer-centric. Investing in an influential and relevant marketing strategy helped them create its extensive omni-channel distribution network. Moving forward, they are planning for a pervasive digital marketing campaign which will play a key role in enlarging its customer base and also stay engaged with the current customer base.
Eggoz Nutrition - Recognition and Achievements
Eggoz has been fortunate to have been recognized for its excellence so early in its journey. They were proclaimed the winner of ET Leaders of Tomorrow (Winner) in the year 2020 and the finalist of Aegis Graham Bell Award (Agri-Tech) (Finalist) in 2021. Such accomplishments are testaments of the dedicated efforts of quality service and customer satisfaction.
Eggoz Nutrition - Future Plans
In 2022, Eggoz will be climbing up the ladders by deepening it penetration amongst the Indian demographic. With aggressive and well thought of plans on table, Eggoz intends to enter new markets and transform the egg supply chains. Being one of the proponents in the agri-tech sector, they are aiming to extend the technology integrated solutions and applications to partner farmers, and provide consistent support to ensure an even more productive farming lifecycle. They have strategized and conducted prior market research as they look forward to entering markets down south and west of India.
FAQs
Who is the founder of Eggoz?
Abhishek Negi, Uttam Kumar, Aditya Singh, and Pankaj Pandey are founders of EggoZ Nutrition.
When was Eggoz founded?
Eggoz was founded in 2017 at Gurugram.
What does Eggoz do?
Eggoz provides farm-fresh, UV- sanitized, antibiotics-free, and chemical-free packaged eggs within 24 hours.
What are the products of Eggoz?
Eggoz products includes finest quality of eggs, which are freshly sourced, treated with UV- sanitization, rich with bio-available protein and vitamins, and are free from avoidable hormones, antibiotics, and chemicals.
Source :- https://startuptalky.com/ Author :- Preeti Karna Date :-March 22, 2022 at 12:53AM