Agritech startup Eeki Foods raises $6.5 million in Series A funding, led by General Catalyst
- ByStartupStory | April 20, 2022
Agritech startup Eeki Foods raises $6.5 million in Series A round led by General Catalyst.
Abhay Singh, co-founder and CEO, Eeki Foods states that the startup plans to use the investment for the purpose of expanding the team, innovating the technology and widening the organization scale. The startup is looking to forge partnerships with corporates, HNIs, and other retail farmers in Rajasthan, Delhi-NCR, and Maharashtra in order to spread its footprint across the country.
Series A round also witnessed participation from a bunch of other investors like Avaana Capital; Better Capital; Irving Fain, CEO and founder of Bowery Farming (a GC portfolio company with $2.3B in valuation); Subbu Palaniappan, director and head of Amazon Prime India; Srinivas Narayanan, former VP- engineering at Facebook; Akhil Gupta, and Amit Kumar Agarwal, co founders of NoBroker.com.
Set up in 2018 by Abhay Singh and Amit Kumar, Eeki Foods aims to build large scale growing chambers, which will grow residue-free, fresh and wholesome Indian staple veggies using IoT (Internet of Things) mechanism.
The company claims that its IoT mechanism aids in 300 % more effective use of barren land at 50% of the growing cost , using 80%less water. The company’s technology enables the farmers to grow veggies throughout the year, irrespective of the climate.
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