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Farmtheory Secures $1.45 Million in Seed Funding Led by Merak Ventures for B2B Agri-Food Expansion

New Delhi: Farmtheory, a startup in the agri-food sector catering to business-to-business transactions, has secured $1.45 million (approximately Rs 12 crore) in its initial funding round, with Merak Ventures leading the investment. Originating from Bengaluru, the company had previously received $150,000 in March 2020 through backing from Y Combinator.

According to a statement released by Farmtheory, the funds will primarily be utilized to expand its operational reach. This expansion plan includes augmenting its supply chain, strengthening technological infrastructure, and enlarging its supply arm.

Established in 2019 by Arpit Agarwal and Sakshi Agarwal, Farmtheory’s mission is to create a supportive environment within the B2B agri-food sector, emphasizing the value of farmers’ produce and promoting a transparent and reliable food sourcing ecosystem for all involved parties: farmers, entrepreneurs, and consumers.

The company asserts that its services contribute to reducing food wastage at its source, increasing agricultural yields, and providing high-quality ingredients to commercial kitchens. Farmtheory reports having partnered with 3,000 farmers and served over 1,500 kitchens since its inception.

In India’s B2B agri-tech startup landscape, notable players include Ninjacart, MeraKisan, Farm 2 Fam, BigHaat, KhetiGaadi, among others.

Tags: Startup