Farmtheory Raises $1.45M Seed Funding to Empower Farmers, Reduce Waste
- ByStartupStory | February 27, 2024
Farmtheory, an agritech startup based in Bengaluru, has successfully secured seed funding of $1.45 million from Merak Ventures. Co-founded by Arpit Agarwal and Sakshi Agarwal in 2019, Farmtheory aims to empower farmers, reduce food waste, and deliver quality ingredients to commercial kitchens. “Through its platform, the startup empowers farmers to share their harvests with the world, which creates meaningful connections that sustain communities and promote environmental responsibility,” highlighted Arpit Agarwal, Co-founder of Farmtheory.
The freshly raised funds will primarily be allocated to scaling up operations and expanding the startup’s supply arm. Farmtheory plans to enhance its technological infrastructure and strengthen its supply chain by reaching out to more farmers. This initiative aims to ensure a robust and sustainable source of produce for commercial buyers. “The raised capital will enable the startup to enhance its technological infrastructure and bolster its supply chain by reaching out to more farmers,” emphasized the startup’s team.
Farmtheory distinguishes unsold produce as ‘freeform,’ acquiring it directly from farmers and supplying it to various buyers, including cloud kitchens, catering companies, and restaurants. The startup claims to have onboarded 3000 partner farmers, facilitating the distribution of freeform produce to commercial kitchens. “The startup embodies a vision where every connection between farmer and consumer signifies more than just a transaction,” added Arpit Agarwal.
Sheetal Bahl, Partner at Merak Ventures, commended Farmtheory for its innovative approach in addressing food waste, enhancing farmer income, and combating climate change. Bahl emphasized the startup’s potential to transform the agri-food landscape with its reimagination of solutions. “The startup is also reimagining solutions with the potential to transform the agri-food landscape,” stated Sheetal Bahl.
Farmtheory’s mission revolves around tackling food waste, boosting farmer earnings, and combating climate change by finding new markets for edible produce that would otherwise be discarded. With over 1500 kitchens served thus far, Farmtheory plans to significantly scale up its partner network and geographic footprint to benefit more farmer communities nationwide.
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