Funding Alert
Ayekart Raises $6.5 Million in Series A Funding to Expand Agrifood Fintech Platform Nationwide
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ByStartupStory | February 16, 2024
Ayekart, an agrifood fintech platform, has successfully raised $6.5 million (approximately Rs 53 crore) in its Series A funding round. The funding was led by Omnivore, Siana Capital, and Unleash Capital. The capital infusion will be utilized to expand Ayekart’s operations nationwide and cater to a larger audience comprising of Farmer Producer Organizations (FPOs), food manufacturers, distributors, and retailers.
Founded in December 2020 by Debarshi Dutta, Ashutosh Singh, and Milind Borgikar, Ayekart offers fintech and supply chain solutions for traditional businesses in the agrifood value chain. The platform aims to enhance efficiency and convenience while maintaining trust within the ecosystem.
Ayekart boasts an extensive reach, operating in 18 states across India. The platform currently serves over 9,000 active merchants and has facilitated more than 2.5 lakh transactions, amounting to over Rs 21 billion in Gross Traded Value (GTV) since its inception.
Ayekart’s vision aligns with the government’s initiatives to revolutionize the SME, MSME, and retail sectors by empowering traditional businesses. The platform aims to bring transparency and credibility to the entire agrifood ecosystem.
This funding round marks a significant milestone for Ayekart, positioning the platform for further growth and innovation in the agrifood fintech space.
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Clean-label food brand Anveshan has raised Rs 150 crore (nearly $16 million) in a Series B funding round led by Vertex Ventures Southeast Asia & India. The round also saw participation from International Finance Corporation (IFC), Swiggy co-founder Sri Harsha Majety, and existing investors including Wipro Consumer Care Ventures, Titan Capital Winners Fund, Force Ventures, and boAt co-founders Aman Gupta and Sameer Mehta. Entrackr had exclusively reported the development last week. According to Entrackr’s estimates, the funding valued the company at over $90 million. The fresh capital will be used to strengthen manufacturing capabilities, accelerate product development, expand offline distribution, and deepen its digital presence. The company also plans to invest in sourcing infrastructure, procurement systems, quality assurance, and testing capabilities while expanding partnerships with micro entrepreneurs and traditional producers. Founded in 2020 by Kuldeep Parewa, Akhil Kansal, and Aayushi Khandelwal, Anveshan sells minimally processed food products including A2 bilona ghee, cold-pressed oils, raw honey, atta, and other traditional nutrition-focused products. The startup operates through a network of rural producers and micro entrepreneurs across the country. Anveshan claims to be operating at an annual revenue run rate of Rs 280-300 crore and is targeting Rs 1,000 crore in revenue over the next 24-30 months. The company plans to expand its atta portfolio, strengthen its owned digital channels, scale offline distribution, and continue investing in product innovation. For the fiscal year ended March 2025, Anveshan reported a 64.6% increase in operating revenue to Rs 77.08 crore from Rs 46.84 crore in FY24. Its losses widened to Rs 11.88 crore in FY25 from Rs 5.74 crore in the previous fiscal year....
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