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Delhi-based agritech firm Crofarm raises bridge round of $500K

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Delhi-based agritech firm Crofarm raises bridge round of $500K

Delhi-based agri-supply chain startup Crofarm has raised $5,00,000 bridge round from Vinay Mittal, Chief Strategy at HT Media; Ramit Sethi from Strongbox Ventures and other HNIs. Existing investors Pravega Ventures, FactorE Ventures and Ashish Chand of Yukti Securities also participated in the round.

Crofarm buys fresh fruits and vegetables directly from farmers and supplies them to online and offline retailers. Currently working with Metro, Jubilant Foodworks, Big Bazaar, Grofers, BigBasket  and local fruit and vegetable shops, the tech-based startup has thousands of farmers and more than 300 small and medium retailers on its platform.

The Delhi-headquartered startup has offices in Mumbai and Bengaluru as well.

The company claims it has an annualised topline of Rs 15 crore in Delhi-NCR alone, and is aiming for Rs 50 crore run-rate within a year.

Angels including Rajan Anandan, MD of Google India and Jitendra Gupta, MD of PayU India invested about $1.5 million seed fund in the startup when it was barely a few months old. The company has also raised Rs 5 crore in pre-series A round led by US-based venture development firm Factor[e]. Rajan Anandan and Jitendra Gupta also invested in this round.

Read More at YourStory.com

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