Mumbai based agri-tech platform FarmLink Agri Distribution and Market Linkage Pvt Ltd has recently raised a sum of $3 million from the Indian arms of Pioneering Ventures, Swiss incubator/investment firm and agrochemicals company Syngenta AG.
Incubated at Pioneering Ventures itself, the startup provides end-to-end logistics solutions for the supply of fruits and vegetables. The fresh funds will be used to expand its reach and penetration and strengthen its technology and analytics capabilities in the supply chain segment.
“FarmLink’s focus is to develop India’s underserved regions. It is associated with more than 700 farmers to improve the quality and quantity of their produce. The company intends to reduce agricultural waste by streamlining the value chain to less than 5% from the country’s average of 30%,” the company spokesperson said.
The startup procures fruits and vegetables directly from farmers through collection centres and delivers them to the retail stores, restaurants, ecommerce food platforms etc.
The platform also helps farmers to get better income with an all round support to improve productivity and quality.
“We aim to transform the way fresh produce is grown and distributed in India by introducing global best practices. We also empower the farmers by providing knowledge and extension services such as agricultural credit, crop insurance and warehousing,” said Sreeram Chellappa, COO, FarmLink.
The company is also planning on implementing a proprietary B2C consumer traceability ap- FarmTrace which will allow consumers to track the product from farm to plate. Currently FarmLink is operational in Karnataka, Telangana and Maharashtra with over 20 tonnes of fresh fruits and vegetables procured everyday.
Recently, another Agriculture supply chain tech startup Gobasco has raised an undisclosed amount of funding from Matrix Partners India.