Agritech Startup Aqgromalin raises INR 5.5 crore led by Zephyr Peacock India Growth Fund & Others
Aqgromalin, an agri-tech startup, announced that it has raised Rs 5.5 crore in seed funding led by Zephyr Peacock India Growth Fund. The round was also attended by Indigram Labs Foundation and other notable angels from the agri startup ecosystem.
As part of the agreement, Zephyr Peacock, a provider of growth capital to small and medium-sized businesses, will gradually increase its exposure to the company as it grows.
Aqgromalin is a Farm Diversification Integrator that allows landowners to diversify into animal husbandry and aquaculture. The aim is to increase farmer income, particularly for small landholders, by supplementing their revenue with innovative growth ideas and assisting them in putting them into action.
Aqgromalin, founded in 2019 by Prasanna Manogaran and Bharani C.L. Over 40,000 livestock farmers have been reached by the company in Tamil Nadu, Andhra Pradesh, Karnataka, Telangana, Assam, West Bengal, Orissa, and Kerala. By the end of 2021, the company hopes to have reached over 100,000 farmers.
Aqgromalin intends to use the funds raised from Zephyr Peacock to expand its team, develop technology, add new categories, and expand geographically.
“The livestock industry plays a critical role in the Indian economy. It contributes over 4% of the GDP and provides employment to millions in the rural economy. However, the industry is highly unorganized and farmer income is low. Aqgromalin is deploying technology that would help address the pain points across the livestock value chain and improve access of inputs and markets for the ecosystem participants,” said Pankaj Raina, Managing Director, Zephyr Peacock.
“Animal husbandry and aquaculture sector in India is underserved and highly fragmented. Livestock farmers face various issues including limited availability of quality inputs, lack of quality feed, and lack of access to markets,” said Prasanna Manogaran, Co-founder and CEO, Aqgromalin.
In India, the value chain for livestock farming activities is fragmented and opaque. Poultry farming, cattle farming, aquaculture, insect farming, and other activities are among them. Indian livestock farmers face difficulties in obtaining inputs and selling output products, resulting in unpredictability of income.
“Our mission is to democratise access of live inputs to our farmers, especially small landholders, thereby enabling them to diversify into animal husbandry and aquaculture at ease. In the next few years, we plan to build the sourcing and supply infrastructure to deliver a wide variety of live inputs at the farmgate,” said Bharani C.L., Co-founder and COO, Aqgromalin.
As part of the agreement, Zephyr Peacock, a provider of growth capital to small and medium-sized businesses, will gradually increase its exposure to the company as it grows.
Aqgromalin is a Farm Diversification Integrator that allows landowners to diversify into animal husbandry and aquaculture. The aim is to increase farmer income, particularly for small landholders, by supplementing their revenue with innovative growth ideas and assisting them in putting them into action.
Aqgromalin, founded in 2019 by Prasanna Manogaran and Bharani C.L. Over 40,000 livestock farmers have been reached by the company in Tamil Nadu, Andhra Pradesh, Karnataka, Telangana, Assam, West Bengal, Orissa, and Kerala. By the end of 2021, the company hopes to have reached over 100,000 farmers.
Aqgromalin intends to use the funds raised from Zephyr Peacock to expand its team, develop technology, add new categories, and expand geographically.
“The livestock industry plays a critical role in the Indian economy. It contributes over 4% of the GDP and provides employment to millions in the rural economy. However, the industry is highly unorganized and farmer income is low. Aqgromalin is deploying technology that would help address the pain points across the livestock value chain and improve access of inputs and markets for the ecosystem participants,” said Pankaj Raina, Managing Director, Zephyr Peacock.
“Animal husbandry and aquaculture sector in India is underserved and highly fragmented. Livestock farmers face various issues including limited availability of quality inputs, lack of quality feed, and lack of access to markets,” said Prasanna Manogaran, Co-founder and CEO, Aqgromalin.
In India, the value chain for livestock farming activities is fragmented and opaque. Poultry farming, cattle farming, aquaculture, insect farming, and other activities are among them. Indian livestock farmers face difficulties in obtaining inputs and selling output products, resulting in unpredictability of income.
“Our mission is to democratise access of live inputs to our farmers, especially small landholders, thereby enabling them to diversify into animal husbandry and aquaculture at ease. In the next few years, we plan to build the sourcing and supply infrastructure to deliver a wide variety of live inputs at the farmgate,” said Bharani C.L., Co-founder and COO, Aqgromalin.
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