Hectar Global, a business-to-business cross-border agri commodity procurement platform, has raised $2.1 million in seed funding led by Powerhouse Ventures. The round also witnessed participation of WEH Ventures, All In Capital, Indian Silicon Valley, Anant Sarda and Adhish Ladha.
The raised funds will be utilised to expand into new territories and strengthen its digital infrastructure, Hectar Global stated in a press release.
Co-founded by Srinath Srinivasan, Sibhi Kumaran, and Aswath Balaji, Hectar Global helps food buyers worldwide to purchase container volumes of agri commodities with e-commerce level convenience. The company’s platform digitises complex cross-border supply chain processes, making them more efficient, transparent, and sustainable. It leverages advanced data models and machine learning algorithms to provide real-time market information and actionable insights, helping customers plan their purchases to maximise profits.
The Chennai based firm has a presence in Singapore, Dubai, Bangladesh, and Sri Lanka and has shipped over 50,000 MTs of agri commodities to Asia, Middle East and Africa.
