Agriculture technology startup, Crofarm Agriproducts Pvt Ltd has lately proclaimed that it has raised INR 7.5 crore in the pre-series A funding round.
The funding was led by Smile Group, VC Circle reported citing Crofarm's official statement.
Smile Group holds and administers several properties in the consumer and internet media segment. Some of its investments are Zupee and Spyne.
Former Grofer executives, Varun Khurana and Prashant Jain established Crofarm in 2016. The company has lately stepped into the B2B2C segment with the launch of its platform, Otipy.
Otipy focuses on helping women sell fresh produce to their community. It is presently working with more than 500 partner resellers throughout Delhi-NCR. It is currently more than 50,000 consumers.
Crofarm initiated selling fruit and vegetables after sourcing from farmers. The company supplies fruit and vegetables to more than 5000 retailers through its business-to-business subsidiary. The produce is collected from farmers throughout Haryana, Delhi, Gujarat, Karnataka, Maharashtra, Himachal Pradesh, Uttar Pradesh, and Rajasthan.
In january 2019, the agritech startup invested INR 3.5 crore from a cohort of high net-worth individuals (HNIs) in the bridge financing round.
Factor[e] Ventures, Pravega Ventures and Ashish Chand of Yukti Securities are the existing investors that infused money in the funding round.