Agritech Startup Farmtheory Raises $1.45 Million in Seed Funding, To Empower Farmers and Reduce Food Waste
Farmtheory, an agritech startup, has made headlines by securing seed funding of $1.45 Mn (around INR 12 Cr) from Merak Ventures.
As per the startup, the freshly raised funds will be used to scale up its operations, mainly focusing on expanding its supply arm.
The raised capital will enable the startup to enhance its technological infrastructure and bolster its supply chain by reaching out to more farmers, ensuring a robust and sustainable source of produce.
Farmtheory | Agritech Startup
Founded by Arpit Agarwal and Sakshi Agarwal in 2019, Farmtheory is a Bengaluru-based agritech startup that claims to help minimize food waste at the source, boost farm yields, and deliver quality ingredients to commercial kitchens.
The Bengaluru-based agritech startup, which claims to have on-boarded 3000 partner farmers, refers to the unsold produce as ‘freeform,’ which it acquires directly from farmers. Farmtheory then supplies this freeform to a range of buyers, from cloud kitchens and catering companies to food processors and restaurants, who can use it just like conventionally shaped produce.
Speaking about the vision of the firm, Arpit Agarwal, Co-founder of Farmtheory, highlighted that the startup embodies a vision where every connection between farmer and consumer signifies more than just a transaction. Agarwal added that, through its platform, the startup empowers farmers to share their harvests with the world, which creates meaningful connections that sustain communities and promote environmental responsibility.
Statement from the Investor
Commenting on the development, Sheetal Bahl, Partner, Merak Ventures, lauded Farmetheory for its innovative approach to tackling food waste, enhancing farmer income, and combating climate change, while adding that the startup is also reimagining solutions with the potential to transform the agri-food landscape.
The startup is on a mission to tackle food waste, boost farmers’ earnings, and fight climate change by finding new markets for edible produce that would otherwise be thrown away. So far, Farmtheory has served over 1500 kitchens, with plans to significantly scale up its partner and geographic footprint to benefit more farmer communities nationwide.
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