Agri-tech startup Falca raises over $3 million in funding

Falca, an agriculture technology start-up, has raised more than $3 million in funding led by Inflection Point Ventures (IPV). The pre-series A funding also saw participation from LetsVenture, Mumbai Angels and high-net-worth individuals (HNIs).

The company said it will use the fund to expand, acquire talent, and build technology infrastructure. "We directly work with farmers and offer them end-to-end farming solutions through a tech based Phygital platform. We are working with 100,000 farmers currently along with more than 60 input manufacturers and around 65 corporate buyers enabling transactions worth Rs. 1.4 billion," said Santosh Danegoudar, founder and chief executive officer (CEO) of Falca.

Falca enables farmers to sell their products directly to consumers without extra costs like logistics, middlemen and packaging, the company said in a statement. It offers free analytical support for weather conditions, supply-demand gaps, market prices, and suitable harvest times. Agricultural companies can list their products/commodities on Falca’s platform.

“Falca aims to educate the farmers through its platform and make them well versed with the usage of technology for cultivation and the benefits that Falca has to offer to make a better living and profitable farming business. IPV aims to further strengthen the support for the farming community with FALCA,” said Vinay Bansal, founder and CEO of Inflection Point Ventures.

Agriculture technology (agritech) helps the Indian economy by exporting quality goods/commodity. The agriculture market today stands at $375 billion. Agritech is expected to reach $24 billion by 2025 with only 1 per cent being addressed today, said Falca.