Agritech
Agritech startup Uzhavarbumi raises INR 7 crore from Anicut Capital for expansion and innovation
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ByStartupStory | May 5, 2023
Uzhavarbumi, a direct-to-consumer (D2C) agritech startup, has raised INR 7 crore ($938,000) in funding from Anicut Capital, a multi-asset financial institution. The startup plans to use the funding to improve its technological infrastructure, enhance its plant and machinery equipment, and expand its marketing strategies. It also aims to increase its employee strength and operations in Bengaluru in 2023 and Hyderabad in 2024.
Uzhavarbumi sources farm-fresh milk from rural and marginal farmers in Chennai and delivers it to urban areas. The startup’s business model bridges the gap between primary producers and consumers while providing farmers with a stable income throughout the year.
“We are thrilled to have Anicut Capital as our investor and partner in the mission to create a more sustainable and equitable agri-food system. With Anicut’s support, we aim to expand our operations and bring farm-fresh milk to more customers across India,” said Vetrivel Palani, founder and CEO of Uzhavarbumi.
Anicut Capital’s managing partner, IAS Balamurugan, praised Uzhavarbumi’s innovative approach to supply chain management and eco-friendly packaging. “They have immense potential in transforming the agricultural sector of India, and we are excited to support their growth plans and expansion into new markets,” he said.
Anicut Capital manages two debt funds (GAF-1 and GAF-2), Anicut Angel Fund, and Grand Anicut Fund 3. The financial institution offers offerings in debt and equity.
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