Agritech Startup FarMart scoops up $2.8 million funding from ResponsAbility Investments
The agritech startup FarMart, has recently lifted up Rs.24 Cr or $2.8 million as part of a financing round from Swiss asset manager ResponsAbility Investments.
In a media statement, the company said it will utilize the freshly secured fund to accelerate its efforts towards a carbon-efficient food supply chain. As part of the deal, FarMart will also leverage ResponsAbility’s expertise to optimise its existing supply chain.
The Co-founder and CEO of the company, Alekh Sanghera said, “Sustainability is at the core of our business, and responsAbility champions our goal with its strong orientation and expertise in sustainability. Their investment empowers us to accelerate our efforts towards a carbon-efficient food supply chain, and ultimately achieve our vision of a food-secure world.”
When questioned about the investment head of sustainable food debt at responsAbility APAC, Neha Baid mentioned, “We are proud to drive reduction in food loss and waste in India through our partnership with FarMart, whose technological solutions are crucial for efficient supply chain and logistics. Through our financing and climate advisory expertise, we are scaling impact with FarMart”.
The agritech strtup FarMart was established in 2015 by Alekh Sanghera, Mehtab Singh Hans and Lokesh Singh. The company aims to help global food brands procure food commodities right from farmers. It has a strong network of 3 million farmers to help more than 2,000 food manufacturers across six countries to procure 90+ food commodities.
The company uses AI for conducting quality checks and claims to emphasise traceability throughout the value chain. The B2B startup claims to cater to clients in Asia, the Middle East, and Africa.
To date, the company has raised more than $44 million in funding. The notable investors of the company are General Catalyst, Matrix Partners, Omidyar Network and Avaana Capital.
With the incorporation of modern technologies like AI has transformed the whole scenario of the agritech industry and shifted towards smart agriculture. During this evolving period of agritech industry, the company bagged its funding. Numerous agritech players are emerging and disrupting the space. The investors are also lining up in droves to back these new-age tech companies.
Earlier this month, Info Edge increased its stake in agritech startup Gramophone to 39.5% with an additional investment of Rs. 15 Cr in the agritech startup. Poshn has also secured $6 million, in a mix of equity and debt, as part of a Pre-Series A round co-led by Prime Venture Partners and Zephyr Peacock India.
In a media statement, the company said it will utilize the freshly secured fund to accelerate its efforts towards a carbon-efficient food supply chain. As part of the deal, FarMart will also leverage ResponsAbility’s expertise to optimise its existing supply chain.
The Co-founder and CEO of the company, Alekh Sanghera said, “Sustainability is at the core of our business, and responsAbility champions our goal with its strong orientation and expertise in sustainability. Their investment empowers us to accelerate our efforts towards a carbon-efficient food supply chain, and ultimately achieve our vision of a food-secure world.”
When questioned about the investment head of sustainable food debt at responsAbility APAC, Neha Baid mentioned, “We are proud to drive reduction in food loss and waste in India through our partnership with FarMart, whose technological solutions are crucial for efficient supply chain and logistics. Through our financing and climate advisory expertise, we are scaling impact with FarMart”.
The agritech strtup FarMart was established in 2015 by Alekh Sanghera, Mehtab Singh Hans and Lokesh Singh. The company aims to help global food brands procure food commodities right from farmers. It has a strong network of 3 million farmers to help more than 2,000 food manufacturers across six countries to procure 90+ food commodities.
The company uses AI for conducting quality checks and claims to emphasise traceability throughout the value chain. The B2B startup claims to cater to clients in Asia, the Middle East, and Africa.
To date, the company has raised more than $44 million in funding. The notable investors of the company are General Catalyst, Matrix Partners, Omidyar Network and Avaana Capital.
With the incorporation of modern technologies like AI has transformed the whole scenario of the agritech industry and shifted towards smart agriculture. During this evolving period of agritech industry, the company bagged its funding. Numerous agritech players are emerging and disrupting the space. The investors are also lining up in droves to back these new-age tech companies.
Earlier this month, Info Edge increased its stake in agritech startup Gramophone to 39.5% with an additional investment of Rs. 15 Cr in the agritech startup. Poshn has also secured $6 million, in a mix of equity and debt, as part of a Pre-Series A round co-led by Prime Venture Partners and Zephyr Peacock India.
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