Agritech startup Agrowave raises $2 million in Pre-Series A round of funding
- ByTejika Bajaj | January 22, 2022
Agritech startup Agrowave has recently revealed that it has raised a sum of $2 million in its Pre-Series A round of funding led by Aroa Ventures, the family office of Oyo’s founder Ritesh Agarwal.
The company officials have revealed that the startup intends to utilise the proceeds from the recent round of funding towards expansion of its current teams across varied functions. Furthermore, the startup intends to utilise the funds towards scaling its operations in an attempt to achieve a gross merchandise value (GMV) of over 100 crore.
“Growing up, I saw the challenges my grandfather, a farmer, faced. Solving these challenges that farmers across India face, has since been my mission. We are building solutions which enable farmers to sell their produce from their farm-gates in just a few clicks. This funding will help us further expand our network of farmers, bring more transparency in the value chain and most importantly positively impact the livelihood of farmers,” said Anu Meena, founder of Agrowave.
Launched in 2017, Agrowave is a unique agritech startup based out of Gurugram which strives to build 40,000 pickup stations at farm gates to procure produce directly from farmers. The startup has been able to significantly increase its GMV following a pivot into the farm-to-mandi marketplace model. The startup currently has more than 3000 MPS and looks forward to investing in algorithms to efficiently optimise the first mile logistics for its network of MPS.
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