Business-to-business agri-food startup Farmtheory has raised $1.45 million (about Rs 12 crore) in its seed round led by Merak Ventures.
The Bengaluru-based company had previously raised $150,000 in March 2020 from Y Combinator.
The proceeds will be allocated to scale its operations, mainly focusing on expanding its supply arm, enhancing technological infrastructure and bolstering supply chain, Farmtheory said in a press release.
Co-founded in 2019 by Arpit Agarwal and Sakshi Agarwal, Farmtheory serves the B2B agri-food industry and aims to foster a culture that values a farmer’s produce and shares the benefits of transparent and trusted food sourcing ecosystem with all stakeholders: farmers, entrepreneurs, and consumers.
Farmtheory claims that it helps in minimising food waste at the source, boosting farm yields and delivering quality ingredients to commercial kitchens. The brand also claims that it has on-boarded 3,000 partner farmers, and has served over 1,500 kitchens since inception.
The major players in the B2B agri-tech startups in India are Ninjacart, MeraKisan, Farm 2 Fam, BigHaat, KhetiGaadi and others.
