Poshn, a wholesale processed commodity distribution, and financing platform, has announced that it is now the leading trader of sugar & oil in the Delhi NCR. Poshn offers a streamlined and efficient procurement platform, particularly for bulk-processed commodities in a highly fragmented Agri market.
The startup has collaborated with over 500 wholesalers in eCommerce, modern trade, and general trade, and has seen rapid adoption throughout the supply chain. Poshn has reported a 7X annualised growth in the last year, with over Rs 300 crore in trade. The company also intends to trade in ten additional commodities by the end of next year and has a presence throughout India.
Poshn is a platform founded in 2020 by Shashank Singh and Bhuvnesh Gupta that takes a product-first approach to solving complex problems in B2B agritrade. The company aims to organize the agri-supply chain by facilitating wholesale trading. It provides full-stack services for commodity wholesale trading, allowing wholesale buyers to purchase from millers and stockists.
It not only facilitates the wholesale agri-discovery market's and transactions but also assists buyers/sellers with logistics and provides flexible payment solutions. The company is active in Delhi, Haryana, Uttar Pradesh, Punjab, Rajasthan, Karnataka, and MP. Currently, wholesale buying and selling occur in silos, with a buyer purchasing from a select group of agents, who in turn have a select group of sellers.
Buyers struggle with price discovery, on-time delivery, produce quality, and working capital. Suppliers face similar challenges regarding demand predictability, timely payment, working capital management, and a limited and inelastic distribution network. With little digitisation, the sector faces several challenges regarding credit access, robust distribution channels, and fragmented supply units, making discovery (price, suppliers, commodities) difficult.
There are frequently 6-8 intermediaries between the farmer and the retailer, some of whom add real value to the product and the trade. Still, many of these intermediaries contribute to supply chain inefficiency. Poshn's AI-driven distribution engine streamlines wholesale procurement. It provides buyers with a one-stop shop for the best prices from a diverse range of suppliers and the confidence to ensure on-time and hassle-free deliveries. Poshn addresses the issues that hundreds of thousands of food processing units and over two million wholesale buyers face.
The platform adds a layer of trust by incorporating transparent pricing, quality control, on-time delivery, and the provision of working capital solutions as needed. Poshn assists buyers in procuring more and increasing their turnover by removing working capital constraints. Simultaneously, sellers can use the Poshn platform to expand their network and reach more buyers, increasing their business.
Poshn Co-Founder Shashank Singh said, "The goal of creating Poshn is to have a seamless and efficient procurement platform, particularly for bulk procurement. The evolution of the Indian agriculture ecosystem has resulted in expanding the agri-commodities market, and we are the largest consumer of commodities and agricultural products. We are excited about the opportunity and hope to be the preferred exchange platform for all wholesale processed staple commodities."
