The company has sold six cold storage units on a pilot basis so far and 125 solar pumps.
Gupta is aiming at revenue of $3 million by the end of 2016. Omnivore Partners, based in Mumbai, invests in early-stage agricultural and food technology companies. "Even if large cold-storage solutions are set up, small farmers will find access to these very difficult. Omnivore funded Ecozen because we believe that Ecozen has the solution to provide last-mile cold chain to India's farmers and radically reduce losses of fresh produce," said Jinesh Shah, founding partner of Omnivore.
Housing currently has a monthly cash burn rate ofRs 50-63 crore ($8-10 million), according to top executives in the company.
Yadav, however, said the burn rate was much lower. "We spend approximately $2 million (Rs 12 crore) a month apart from some oneoff expenses like new office deposit," Yadav said in an earlier email.
Housing reported losses ofRs 48.8 crore on revenue of Rs 1.9 crore for the financial year ended March 31, 2014, according to filings with the Ministry of Corporate Affairs.