Eeki Foods, an agritech startup, raised $6.5 million in a Series A round led by General Catalyst and including Avaana Capital and Better Capital. Irving Fain, CEO and Founder of Bowery Farming, Subbu Palaniappan, Director and Head of Amazon Prime India, Srinivas Narayanan, former VP Engineering at Facebook; Akhil Gupta, and Amit Kumar Agarwal, Co-Founders of NoBroker.com were among the other individual investors in the round.
It had previously received funding from GSF Accelerator and Avaana Capital, as well as a number of angel investors.
Eeki Foods, founded in 2018 by Abhay Singh and Amit Kumar, aims to make farming more sustainable and climate-proof by developing patent-pending growing chambers that produce nutritious residue-free vegetables at a low cost.
"The additional funds will be used to expand Eeki's footprint to hundreds of acres." We'll spend the coming year focusing on expanding our team, technology, and organizational scale in order to make this growth a reality. In Rajasthan, Delhi-NCR, and Maharashtra, we are actively seeking partnerships with corporates, HNIs, and other retail farmers to build such farms across the country," the founders said in a joint statement.
This startup claims that its technology allows the climate of the farm to be controlled, allowing vegetables to be grown all year without being affected by seasonal variations.
Their patent-pending IoT control mechanism, which is used on farms, makes operations more cost-effective and reduces the need for manual labour. Eeki claims that the yield from its farms has increased by 300 percent while using 80 percent less water.
"Eeki's innovative, India-centric growing system, as well as its unique business model, are making a significant difference in the lives and livelihoods of farming partners and consumers," said General Catalyst Partner Anand Chandrasekaran.
"Eeki's patent-pending technology transforms controlled-environment agriculture, resulting in high-quality staple vegetables at affordable prices." "Avaana Capital's Anjali Bansal said, "We are proud to participate in the team's journey as investors, and we are excited about Eeki building the future of farming."
