FarMart has secured INR 17.7 crore in a pre-Series A funding round led by Omidyar Network India and Avaana Capital to enhance its agritech platform connecting farmers and agri-retailers.

Target Information

FarMart, an innovative mobile-based agritech platform, has successfully secured approximately INR 17.7 crore (USD 2.4 million) in a pre-Series A funding round. This funding round was led by prominent investors, including Omidyar Network India and Avaana Capital, alongside participation from existing investors such as Indian Angel Network and LetsVenture. The capital raised will primarily be allocated to product development, expanding its user base, and enhancing its market linkage capabilities.

Founded by Alekh Sanghera and Mehtab Singh Hans, FarMart operates as India's first micro-SaaS-led agritech platform, aimed at improving the connectivity between agri-retailers and farmers. By enabling farmers to gain access to crucial information, market opportunities, and inputs, the platform seeks to streamline and enhance the value chain spanning from inputs to output. FarMart’s technological prowess and deep-rooted trust within agricultural communities allow it to optimize the currently under-utilized assets of retailers effectively.

Industry Overview in India

The agritech industry in India is witnessing a rapid transformation, driven by technological advancements and changing consumer preferences. As the country is predominantly agrarian, the farming sector plays a crucial role in its economy, contributing to