Merak Ventures Invests USD 1.45 Mn in Agri-food Startup Farmtheory The investment will enable Farmtheory to scale its operations, mainly focusing on expanding its supply arm.
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Sector agnostic early stage venture capital (VC) firm, Merak Ventures, has announced its second investment of USD 1.45 million (Approx INR 12 crores) in Farmtheory.
The investment will enable Farmtheory to scale its operations, mainly focusing on expanding its supply arm, enhancing its technological infrastructure and bolstering its supply chain by reaching out to more farmers, ensuring a robust and sustainable source of produce.
Y-Combinator-backed startup, Farmtheory aims to enhance farmer incomes, address food loss and combat climate change by redirecting edible produce to new markets rather than letting it go to waste.
Arpit Agarwal, Co-founder of Farmtheory, said, "Farmtheory embodies a vision where every connection between farmer and consumer signifies more than just a transaction-it represents a commitment to enriching lives and fostering sustainability. Through our platform, we empower farmers to share their harvests with the world, creating meaningful connections that sustain communities and promote environmental responsibility."
Founded in 2019 by Arpit Agarwal and Sakshi Agarwal, Farmtheory minimizes food waste at the source, boosting farm yields and delivering quality ingredients to commercial kitchens.
Bengaluru-based B2B agri-food startup acquires the nutritious, 'freeform' produce directly from farmers and supplies it to a range of buyers, from cloud kitchens and catering companies to food processors and restaurants.
The startup claims that it has served over 1500 kitchens since its founding and has onboarded 3000 partner farmers so far.
Sheetal Bahl, Partner at Merak Ventures, said, "At Merak Ventures, we recognize the brilliance and audacity of Farmtheory's team. Not only are they addressing the challenges of food waste, farmer income, and climate change — they're reimagining solutions with the potential to transform the agri-food landscape."
