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