Farmart is an Agritech startup that has secured $2.8 million in a financing round from the Swiss asset manager responsibility Investments. The startup will use these fresh proceeds to strengthen and grow towards a carbon-efficient food supply chain. While scaling up the business Farmat aims for more public exposure and market demand. Inc42 reported that Farmat will use responsibility’s expertise and technology to optimize its supply chain as part of its deal.
The co-founder and CEO of FarMart, Alekh Sanghera mentioned that sustainability is the core of this startup and the investment from responsibility helped them strengthen their orientation and expertise in sustainability. This investment will help this agritech startup move towards a carbon efficient food supply chain and help the startup achieve its vision of a food-secure world. Responsibility’s APAC Neha Baid showed their support towards the startup by highlighting the solutions offered by the company for efficient supply chain and logistics. The company is scaling the impact with FarMart through its financing and climate advisory expertise.
Image source: Farmart.co
Founded by Mehtab Singh Hand, Lokesh Singh and Alekh Sanghera, this agritech startup aims to help global food brands obtain food items directly from farmers. The startup claims to have a network of 3 million farmers to help over 2,000 food manufacturers across some countries including parts of Asia, the Middle East, and Africa. This B2B startup uses Artificial Intelligence technology to check food quality throughout the value chain. FanMart has raised $44 million in funding to date and is backed by General Catalyst, Omidyar Network, Matrix Partners, and Avaana Capital.
The Indian Agritech market is growing rapidly and seems to incorporate AI for smart agriculture practices. The startup utilizes technology to increase the quality of agricultural productivity and efficiency while reducing wastage. This agritech startup offers various agriculture-related products. The startup claims to be India’s first SaaS-based B2B food supply platform. The company offers a mobile app that revolutionizes food sourcing and processing by making it more efficient and faster.
Conclusion:
FanMart is a B2B food supply platform that has secured $2.8 million in a funding round led by Swiss asset manager responsAbility Investments. The startup will use this funding to strengthen and move towards a carbon-efficient food supply chain. While scaling up the business Farmat aims for more public exposure and market demand. The investment will help this agritech startup move towards a carbon-efficient food supply chain and help the startup achieve its vision of a food-secure world. This agritech startup aims to help global food brands obtain food items directly from farmers. This B2B startup uses Artificial Intelligence technology to check food quality throughout the value chain. As the agritech industry evolves, everyone is looking forward to FanMart’s future trajectory and its contributions to the agritech sector. FanMart has raised $44 million in funding to date and is backed by General Catalyst, Omidyar Network, Matrix Partners, and Avaana Capital. Farmat will use responsibility’s expertise and technology to optimize its supply chain as a part of its deal.
