Matrix Partners leads $10 Mn round in FarMart

FarMart, a SaaS-led food supply platform, has raised $10 million in a funding round led by Matrix Partners India. Innoven Capital and existing investors Omidyar Network India, Avaana Capital, and 500 startups have also joined the round.

The new round comes just after four months, when the agritech startup raised a $2.4 million pre-Series A round in June 2021.

According to the Gurugram-based startup, the funds will be used to expand its distribution network across the country, scale product capabilities and to grow the team.

Founded by Alekh Sanghera and Mehtab Singh Hans, FarMart’s tech platform enables food businesses to source quality produce in large quantities directly from the farm at cheaper pricing and a faster turnaround time. 

The startup claims to have scaled its network to over 15,000 active agri-input retailers and 750,000 farmers who have shipped over 30,000+ tonnes of produce on the FarMart platform.