Agriculture supply chain tech startup Gobasco has raised an undisclosed amount of funding from Matrix Partners India.
Co-founded by Vedant and Abhishek in early 2017, the startup aims to solve complex supply chain optimisation problems, by combining large scale data integration with proprietary technologies.
The details about the funding round were not disclosed but Gobasco will be using the funds for scaling up and building a full stack commerce platform that yields higher operational efficiency.
“The goal is to use artificial intelligence and big data to optimise the agri-supply-chain across India,” said Abhishek Sharma, cofounder of Gobasco.
The startup is based in Lucknow and NCR and has till now served 5,000 farmers till date.
“SMEs in India are adopting technology at a rapid pace, thus opening up opportunities in large, underserved markets like agriculture.The team is growing fast and is highly mission driven,” said Rajinder Balaraman, VP of Matrix India.
The agri-tech market size is roughly $300 billion, which is still largely untouched by organised sectors due to the inherent difficulties in analysing the vastly complicated supply chain spread across the length and breadth of the country. The unorganised sector constitutes roughly 97 percent of the current agro-supply chain for F&V commodities.