Gurugram-based agritech platform FarMart has raised $2.4 million in its pre-Series A funding round led by Omidyar Network India and Avaana Capital, per a company announcement.
Existing investors Indian Angel Network and LetsVenture also took part in the financing.
FarMart said it will use the proceeds to focus on product development, user base expansion, and scale its market linkage capabilities.
Founded in 2016 by Alekh Sanghera and Mehtab Singh Hans, the startup helps agri-retailers serve farmers better by providing them with access to information, market linkages, and input.
“With this funding round, we seek to further our mission to become the largest online platform connecting food businesses with over 10 million farmers through our nationwide retailer network by 2025,” said Sanghera, co-founder and chief executive officer of FarMart.
INDIA DEAL MONITOR
Here are prominent venture capital transactions in India from May 27-30, 2021.
