[Funding alert] Agritech startup Vegrow raises $2.5M led by Matrix Partners India, Ankur Capital
Summary
Vegrow, a Bengaluru-based agritech startup focussed on aggregating small farms, on Monday announced it has raised $2.5 million in seed funding from Matrix Partners India and Ankur Capital. The startup said it increases the net earnings of partner farmers by leveraging technology across different stages of the farming cycle – it helps in crop planning, gives them access to quality inputs, monitors their adherence to practices, and ultimately sells their harvest to the right set of buyers. Both Praneeth and Shobhit started their professional career at the agri business division of ITC, while Mrudhukar and Kiran have had practical experience of farming. We have spent a lot of time in the agritech sector and most solutions do not get to the heart of the challenge - managing demand led production across fragmented farms. The teams depth of understanding the market, coupled with their approach to use technology to drive the scale is what sets them apart.”