Agri-tech start-up FarmLink said it had raised ₹20 crore from Pioneering Ventures and Swiss agribusiness giant Syngenta. The firm said it controls end-to-end supply chain of fruits and vegetables to reduce wastage and ensures better pricing for farmers. It plans to use the capital to expand its geographical reach and strengthen its technology and analytics capabilities in the supply chain.
The company said that it is also in the final stages of implementing ‘FarmTrace’, a proprietary traceability app. Among other uses, it can track the product from farm to shelf. The firm said the app would allow customers and consumers get transparent insight into when, where, and how the food was grown.
“India’s agriculture is facing serious challenges such as low yield and enormous wastage across the value chain,” said Akshaya Kamath, director at Pioneering Ventures India, in a statement. “FarmLink attempts to address these challenges,” he said.
FarmLink said it procures over 20 tonnes of fruits and vegetables a day through its collection centres across Karnataka, Telangana and Maharashtra. It delivers the produce to big retail stores, hotel-restaurant-cafe chains, industrial processors and emerging e-commerce food platforms.
