Better Capital, Titan Capital, ITC agribusiness CEO Sanjiv Rangrass also participated in the round
Agritech startup VeGrow has raised $2.5 Mn in seed funding led by Matrix Partners and Ankur Capital to invest in technologies that will improve farming, make the supply chain more efficient and help farmers achieve income stability.
Better Capital, Snapdeal founders Kunal Bahl and Rohit Bansal’s Titan Capital, ITC’s agribusiness CEO Sanjiv Rangrass, Cloudnine founder Rohit MA, Livspace founder Ramakant Sharma, and Park+ founder Amit Lakhotia, also participated in the funding round.
VeGrow was founded in April 2020 by Praneeth Kumar, Shobhit Jain, Mrudhukar Batchu and Kiran Naik. The founders all have varying experiences in the Agri sector. While Kumar and Jain had started their careers at ITC’s agribusiness division, Batchu and Naik were directly involved in farming.
The company works with small-hold farmers on a profit-sharing model and aids them across the various stages of the farming cycle using technology. Its primary business is to provide farmers access to high-quality farm inputs, monitor their adherence to best farming practices and enable them to sell their harvest to the right buyers for the right price.
VeGrow’s Kumar said that “Our collective experience of working on multiple agri initiatives led us to realise that, with the right set of tech interventions, farming can be a highly remunerative business,”
Meanwhile, Ritu Verma, cofounder and managing partner at Ankur Capital, said “The team’s depth of understanding the market, coupled with their approach to use technology to drive scale is what we feel sets them apart.”
