Amritsar, NFA Post: Agritech startup Freshokartz has raised 10 crore rupees from Rajasthan Venture Capital Fund (RVCF) and AWE (Achieving Women Equity) Funds in pre-Series A funding round.
The company plans to utilise the funds to expand within Rajasthan and other nearby states of Haryana, Madhya Pradesh, and Uttar Pradesh, among others, and also in capacity building and tech development.
Founded in 2016, the Jaipur headquartered startup provides a host of technology-enabled solutions to small, marginal farmers, including agricultural inputs, crop advisory, output linkages, crop insurance and financing.
The idea is to optimise the agri supply chain while enhancing price realisation by farmers, the company said in a statement.
Through its tool Agronomist and through call center, the company provides the farmers with soil-based crop and fertilisers recommendation.
The company has set up several digitalised physical agri kiosks in villages and delivers agri-advisory, inputs and collect farmer output through them. It is building a hybrid model for farmers to give them pre- and post-harvest agriculture-related services, the company said.
“Our company has witnessed significant growth even during COVID-19 crisis, which is driven by our team’s differentiated understanding of India’s agricultural supply chain, its markets and its participants given our personal farming backgrounds. This helps us execute effectively as an effective and integrated agriculture supply chain company. Getting RVCF and AWE Funds’ investment support will help expand and consolidate our footprint not only in Rajasthan but also in neighboring states,” Co-Founder Rajendra Lora said.
Currently, the startup is operating 40 centers across Rajasthan and working with over 90,000 farmers. Freshokartz aims to reach 1 million farmers in the next 12-15 months.
“It is pertinent for us to look at startups which can sustain in these challenging times by differentiation and innovation. By focusing on farmers’ multitude of farming needs, Freshokartz is providing full stack solutions for better farm outcomes. The team has strong execution capabilities and expects to see significant growth in the coming years. We are happy to partner with Freshokartz in the journey,” RVCF Vice President Gaurav Chowdhry said.