Cro­farm Gets .₹ 5-crore Seed in Pre-Se­ries A

The Economic Times - - Disruption: Startups & Tech - Mugdha.Vari­yar@ times­

Ben­galuru: Cro­farm, an agritech startup con­nect­ing farm­ers and re­tail­ers, has raised .₹ 5 crore in a pre-Se­ries A from an­gel in­vestors Ra­jan Anandan, Google In­dia MD, and Ji­ten­dra Gupta, PayU In­dia MD, and US-based Fac­tor[e] ventures, among oth­ers, through the Let­sVen­ture plat­form.

Cro­farm of­fers a digi­tised sup­ply chain for agri­cul­tural prod­ucts by bring­ing farm­ers and re­tail­ers on a com­mon plat­form. It pri­mar­ily op­er­ates in Delhi-NCR, where it serves more than100 small and medium re­tail­ers through its mul­ti­ple dis­tri­bu­tion cen­tres and is con­nected to farm­ers across UP, Haryana and Delhi.

The startup had ear­lier raised its seed round from Pravega Ventures.

“Cro­farm ad­dresses a very key pro- blem and In­dia’s agri sec­tor has hardly seen any ben­e­fits come from tech­nol­ogy. It is very ex­cit­ing to see these en­trepreneurs solv­ing such fun­da­men­tal prob­lems that cater to the $100 bil­lion-plus fruits and veg­eta­bles mar­ket,” said Gupta.

The startup claims wastage of less than 5% in its sup­ply chain com­pared to av­er­age wastage of 50% in fruits and veg­eta­bles in the coun­try. “Cro­farm uses a com­bi­na­tion of smart lo­gis­tics and a so­phis­ti­cated tech­nol­ogy plat­form that al­lows re­duc­tion of post-har­vest losses, and its as­set-light busi­ness model lends it­self to scal­a­bil­ity na­tion­wide,” said Satya­jit Suri, coun­try di­rec­tor for Fac­tor[e]’s In­dia op­er­a­tions.

Co claims wastage of less than 5% in its sup­ply chain

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.