The Bengaluru-headquartered agritech company, Clover Ventures has lately secured INR 39.14 crore investment from VC firm, Omnivore.
Existing investment companies, Accel and Mayfield India also participated in the funding round, VC Circle reported citing the companys official statement.
The fresh funds will help the company accelerate the growth of its managed farm network, enter new cities, and diversify its business-to-business (B2B) and business-to-business (B2C) offerings, Avinash BR, Co-founder at Clover, said in the companys official statement.
According to the cited media report, Clover had raised seed funding from Mayfield India and Accel in the previous year.
Clover states that the company is a greenhouse agri-tech platform. It joins hands with agricultural farmers throughout India and sells high-quality branded, greenhouse-produced products through B2C and B2B networks.
Clovers founder, Avinash is a graduate from Germany-based Mannheim Business School. He has previously worked as an investment manager for 4 years at the impact investment firm, Aavishkaar. Following this, he worked at Aavishkaar Intellecap Groups subsidiary, TribeTech Pvt. Ltd, which was a technology startup spun off.
Clover is one of the companies that has grabbed the attention of strategic players and investment firms, mainly social-impact investment companies. Players like Clover try to resolve underlying problems in the agriculture sector of India and offer equitable incentives to farmers and other members.