Mumbai-based agri-tech startup FarmLink Agri Distribution And Market Linkage Pvt. Ltd has raised $3 million (approximately Rs 20 crore) from the Indian arms of Swiss firm Pioneering Ventures and agro-chemicals company Syngenta.
According to the release from FarmLink, its focus is to develop India’s underserved regions. It is associated with more than 700 farmers to improve the quality and quantity of their produce. The company intends to reduce agricultural wastage by streamlining the value chain to less than 5 percent from the country’s average of 30 percent.
It also helps farmers to generate income with all-round support to improve productivity and quality. “We aim to transform the way fresh produce is grown and distributed in India by introducing global best practices. We also empower the farmers by providing knowledge and extension services such as agricultural credit, crop insurance and warehousing,” said Sreeram Chellappa, COO, FarmLink.
The company is also in the final stages of launching an app named FarmTrace, which would allow consumers to track the product from farm-to-shelf, giving insights into when, where and how the food was grown.
FarmLink, which procures over 20 tonnes of fresh fruits and vegetables every day, have centres across Karnataka, Telangana and Maharashtra. The produce is supplied to the company’s primary markets in Mumbai and Bengaluru through large multi-national and retail franchises such as Star Bazaar and Vista Processed Foods.