With the new wave for advancement and development in the agriculture field, there are many startups as well as the government that is focusing majorly on farmers and increasing their input. And to bring scale to Indian farmers using technology.
VeGrow has recently raised $2.5 million in seed funding. The funding was led by Matrix Partners and Ankur Capital. Various big names from the business world participated in the funding round, such as Sanjiv Rangrass, CEO of ITC’s Agri-Business Titan Capital, Better Capital, Livespace founder Ramakant Sharma, Cloudnine founder Rohit MA, and Park+ founder Amit Lakhotia.
The startup company, VeGrow aids the farmers in the planning of crops, and also renders access to the high-quality inputs, and also comes up with best farming practices and monitors the farmers’ adherence to it. Apart from this they also help the farmers by selling their harvest to the right buyers for the right price.
The startup was founded in April by Praneeth Kumar, Shobhit Jain, Mrudhukar Batchu, and Kiran Naik. The startup partners with small-hold farmers on a profit-sharing model and also try to better their income by introducing technology in farming and how it can help them in various stages of farming.
In an interview, Praneeth Kumar said, “Our collective experience of working on multiple agricultural-based initiatives led us to realize that with the right set of tech interventions farming can be a highly remunerative business.
Ritu Verman, co-founder and managing partner at Ankur Capital said, “ We are excited to kick off our second fund by partnering with VeGrow. The team’s depth of understanding the market coupled with their approach to use technology to drive scale is what we feel sets them apart.”