Farmtheory, a Bengaluru-based business-to-business (B2B) agri-food startup, announced that it has successfully raised $1.45 million (about Rs 12 crore) in its latest seed funding round, with Merak Ventures leading the investment.
This funding round comes after Farmtheory’s earlier raise of $150,000 in March 2020, backed by Y Combinator, showcasing the company’s growth trajectory and investor confidence in its vision.
The newly acquired capital will primarily be utilized to scale up Farmtheory’s operations. The company plans to focus on expanding its supply arm, enhancing its technological infrastructure, and strengthening its supply chain network, as outlined in a recent press release.
Established in 2019 by co-founders Arpit Agarwal and Sakshi Agarwal, Farmtheory aims to revolutionize the B2B agri-food industry by fostering a culture that values the produce of farmers and promotes a transparent and trusted food sourcing ecosystem. Their mission extends to benefiting all stakeholders involved, including farmers, entrepreneurs, and consumers.
Farmtheory asserts that its platform aids in reducing food waste at its source, while simultaneously increasing farm yields and ensuring the delivery of high-quality ingredients to commercial kitchens. The company proudly reports that it has partnered with 3,000 farmers and has successfully served over 1,500 kitchens since its inception, highlighting its significant impact in the sector.
The B2B agri-tech startup landscape in India is robust, with key players such as Ninjacart, MeraKisan, Farm 2 Fam, BigHaat, KhetiGaadi, and others driving innovation and growth in the industry. With this recent funding injection, Farmtheory is well-positioned to further solidify its presence and contribute to the advancement of the agri-food sector.
