Agritech startup Agrowave has raised $2 million in its pre-Series A round from Aroa Ventures, the family office of Oyo founder Ritesh Agarwal.
According to the Gurugram-based startup, the fresh capital will be used to expand the team and scale operations to achieve a monthly gross merchandise value (GMV) of over 100 crore.
Founded by Anu Meena, Agrowave enables farmers to sell their produce from their farm-gates at better rates. The platform is striving to build 40,000 mobile pickup stations (MPS) at farm gates to procure directly from farmers.
Agrowave claims that it has significantly scaled and achieved GMV of approximately 15 crore, volume approximately 8000 tons by operating in over 150 villages in the month of December 2021.
The startup has already set up its base in Delhi-NCR, Haryana, Punjab, Uttar Pradesh, Madhya Pradesh, and Rajasthan. It now plans to strengthen its presence in these markets further.