FarMart Raises $2.8 Million in Funding
FarMart, a Gurugram, India-based SaaS-based food supply platform, has raised Rs 24 crore ($2.8 million) in funding, bringing its total raised nearly $50 million.
The investment was from Swiss asset manager responsAbility Investments.
responsAbility Investments is an asset manager specializing in development and impact investments, offering professionally managed investment solutions to private, institutional, and public investors. Founded in 2003 and headquartered in Zurich, Switzerland.
The company plans to utilize the new funds to develop a carbon-efficient food supply chain.
FarMart provides a food supply platform designed to connect farmers and share farm-related information easily. FarMart's platform digitizes agricultural supplies and produce, connecting buyers and sellers locally to minimize transportation costs. It has a presence in central and northern India, with a smaller footprint in the southern states and Jammu and Kashmir. The company collaborates with over 2,000 food manufacturers and brands, 3 million farmers, and 400 factories across six countries.
Funding Details
Company: FarMart Service Private Limited
Raised: $2.8M
Round: Unknown
Funding Month: May 2024
Lead Investors: responsAbility Investments
Additional Investors:
Company Website: https://www.farmart.co/
Software Category: Food Supply