What is Poshn Nucleus?
In order to connect a buyer’s procurement requirements with the most plausible fulfillment partner, Poshn, an agri-trading structure, has introduced Poshn Nucleus. Within the following year, the company wants to have over 300,000 wholesale small to medium-sized business sellers on the marketplace. The patented system will facilitate reverse auctioning, ordering and payment processing, logistics optimization, and traceability throughout the value chain. It employs neural networks, data, including analytics to distribute commodities.
Introduction of Posh Nucleus in the Food and agriculture sector
A key participant in the food and agricultural value chain, Poshn, has introduced a platform that will assist in matching a buyer’s procurement requirements with the most likely execution partner.
Over three lakh wholesale SME sellers are anticipated to join the new platform within the next 12 months, according to the business. Over 300 sellers have already used the platform live while it is still in the pilot phase. The buyers are wholesale buyers of the same products, whereas the suppliers are producers of food and agricultural commodities.
“The distribution process needs to be made simpler as the value chain is becoming more intricate. According to Shashank Singh, co-founder of Poshn, “We are convinced that this technology will revolutionize the $800 billion food and agro trading business by minimizing these processes.” Singh also said that the new platform Poshn Nucleus would enable the firm to have a complete grasp of the value chain without the need for an inventory-heavy framework which will further enable the business to broaden its activities across geographies and commodities effortlessly.
Poshn is an agri-trading system for commercial processed goods distribution and financing that was founded in 2020 as a side project by Bhuvnesh Gupta, an alumnus of XLRI, and Singh, an IIM graduate. The startup raised about $4.5 million in its initial funding round from Prime Ventures and Zephyr Peacock after being formally established in June 2021.
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Benefits of Poshn Nucleus technology
Reverse auctioning, processing orders, logistics optimization, and the processing of payments for the buyer and seller will also be made possible by the patented technology, which will eventually boost efficiency.
The new platform streamlines the distribution of goods using artificial intelligence, data, and analytics.
The platform links customer demand requirements with fulfillment partners using analytics and machine learning models, resulting in unique recommendations that give customers the goods at the cheapest price and quickest turnaround time.
Members of Poshn on Poshn Nucleus
Ashirvad Singh, head of technology at Poshn and the mind behind Poshn Nucleus claimed that the company has created an extremely modular, open, and scalable digital ecosystem for the distribution of food and agro commodities and that it is testing with blockchain technology for particular applications in order to ensure accountability and traceability throughout the value chain and prevent slippage and losses.
Additionally, it makes it easier to create orders, track them, deliver them, issue refunds, and manage cash flow. In the present-day fiscal year, the company anticipates exceeding $1 billion in annual recurring revenue.
One of Poshn’s co-founders, Bhuvnesh Gupta, claims that the company’s attention to resolving the sector’s most pressing problems and extensive knowledge of the industry has allowed them to develop a distinctive SME digital platform.
