Kerala

Two Kerala startups receive ₹36 crore funding

Representational Illustration  

Amid the pandemic- induced crisis, two startups mentored by Kerala Startup Mission (KSUM) have raised ₹36 crore from top-notch funders in the month of August.

Startup Clootrack, a real-time customer experience analytics platform, raised ₹30 crore ($4 million) while agritech startup Farmers Fresh Zone raised ₹6 crore.

Founded by Shameel Abdulla and Subbakrishna Rao in 2017, Clootrack helps brands understand why customers stay or churn. So far, the company has raised $4.6 million. A pressnote quoting Mr Abdulla said most of the new funding would be leveraged for product development.

The Kochi-based company is currently working with over 150 customers in the areas of retail, direct-to-consumer, banking, automotive, travel and mobile app-based services.

Founded by engineer-turned-agri entrepreneur Pradeep P.S. in 2015, Farmers Fresh Zone, which procures fresh produce directly from farmers, is an online marketplace where consumers can track the origin of a product, including details of the farms. Moreover, farmers will receive the right rates for their produce through this venture. The company has so far raised ₹8.5 crore.

Mr. Pradeep said his company also provides farmers data-based predictive information about the existing demand in the market to eliminate any wastage.

The Kochi-based agri startup has connected over 3,000 farmers to urban users through its omni-channel presence. It has expanded operations to Tamil Nadu and now has a presence in Kochi, Thiruvananthapuram, Kottayam, Thrissur, and Coimbatore.


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Printable version | Oct 29, 2021 3:42:42 AM | https://www.thehindu.com/news/national/kerala/two-kerala-startups-receive-funding/article36420297.ece

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