The Funds will be used in capacity building, technology development and geographic expansion
Jaipur based Freshokartz Agri Products Pvt. Limited, a premier Agri-tech startup has received INR 10 Crore ($1.4 Million) pre-series A funding from Rajasthan Venture Capital Fund (RVCF) and AWE (Achieving Women Equity) Funds to finance its rapid technology rollout while scaling its operations as a provider of premier technology-enabled Omni channel supply chain optimizing solutions along with agronomy advisory and output linkages.
Freshokartz will be using these funds for expansion within Rajasthan and other nearby states like Haryana, Madhya Pradesh, and Uttar Pradesh and other northern states of India. The Funds will be used in capacity building, Tech development and geographic expansion
Speaking on the success of Freshokartz latest round of funding, Rajendra Lora, Founder said, “Our company has witnessed significant growth even during COVID-19 crisis, which is driven by our team’s differentiated understanding of India’s agricultural supply chain, its markets and its participants given our personal farming backgrounds. This helps us execute effectively as an effective and integrated agriculture supply chain company. Getting RVCF and AWE Funds’ investment support will help expand and consolidate our footprint not only in Rajasthan but also in neighbouring states.”
Gaurav Chowdhry, Vice President, RVCF said, “It is pertinent for us to look at startups which can sustain in these challenging times by differentiation and innovation. By focusing on farmer’s multitude of farming needs, Freshokartz is providing full stack solutions for better farm outcomes. The team has strong execution capabilities and expect to see significant growth in the coming years. We are happy to partner with Freshokartz in the journey.”
Seema Chaturvedi, Founder & Managing Partner of AWE Funds observed, “At AWE Funds, given our team’s deep agri expertise, we believe that the agri-tech industry is poised for rapid growth. Furthermore, we found FAPL’s focus on appropriate and adaptable farmer-centric technology especially on the downstream input side of the supply chain to be a very compelling investment thesis. Added to the fact that the main beneficiaries are marginal farmers of whom 70 per cent are women, this investment is very aligned with our gender lens focused investment mandate in Achieving Women Equity.”
Freshokartz is operating 40 physical centers in Rajasthan and working with more than 90,000 farmers. Freshokartz has target to reach 1 Million farmers in next 12-15 months. Freshokartz is working with more than 100 Agri Inputs companies including UPL, Chambal Fertilizers to provide best Agri inputs to farmer’s doorsteps
