Existing investors like Ashish Chand from Yukti Securities, FactorE Ventures, and Pravega Ventures also participated in the round. This is the third round of funding for the firm. In 2018, it raised Rs 5 crore in pre-series
Sources on the condition of anonymity have revealed, “Crofarm is also negotiating a Series A round with multiple investors. It’s likely to get materialized over the next two-three months.”
According to a report, the agriculture supply chain processes about 400 tonnes of vegetables and fruits each month with an annualized topline of Rs 15 to 18 crore in the National Capital Region.
Through its distribution centers, Crofarm supplies vegetables and fruits to more than 300 retailers including small and medium retailers. The startup mainly sources fresh farm produce from farmers across the UP, Haryana, Delhi, Bangalore, and Maharashtra.
Picture Credits: Crofarm