In its seed funding round, Farmtheory, a business-to-business agri-food startup, has raised $1.45 million (approximately Rs 12 crore), with Merak Ventures leading the investment. Based in Bengaluru, the company had previously secured $150,000 in March 2020 from Y Combinator.
The raised funds will be dedicated to scaling operations, with a primary focus on expanding its supply arm, enhancing technological infrastructure, and fortifying the supply chain, as stated in a press release by Farmtheory.
Founded in 2019 by Arpit Agarwal and Sakshi Agarwal, Farmtheory is dedicated to serving the B2B agri-food industry. The company aims to cultivate a culture that appreciates the value of a farmer’s produce, fostering a transparent and trusted food sourcing ecosystem for all stakeholders, including farmers, entrepreneurs, and consumers.
Farmtheory asserts its role in minimizing food waste at its source, elevating farm yields, and providing high-quality ingredients to commercial kitchens. The company claims to have onboarded 3,000 partner farmers and served over 1,500 kitchens since its inception.
In the B2B agri-tech startup landscape in India, Farmtheory joins major players such as Ninjacart, MeraKisan, Farm 2 Fam, BigHaat, KhetiGaadi, and others.
