Agritech start-up Falca raises US$ 3 million in funding for expanding business
- IBEF
- October 7, 2022
Agritech startup Falca has secured funding totaling more than US$ 3 million from Inflection Point Ventures (IPV). Along with high-net-worth individuals (HNIs), LetsVenture and Mumbai Angels participated in the pre-series A funding. The business claimed it will make use of the funds to grow, hire talent, and develop technological infrastructure.
"We directly work with farmers and offer them end-to-end farming solutions through a tech based Phygital platform. We are working with 100,000 farmers currently along with more than 60 input manufacturers and around 65 corporate buyers”, said Mr. Santosh Danegoudar, Founder and Chief Executive Officer (CEO) of Falca.
Falca enables farmers to sell their products directly to consumers without incurring additional expenses for shipping, middlemen, or packaging. It provides free analytical help for favourable harvest seasons, market pricing, supply-demand gaps, and meteorological circumstances.
Agritech supports the Indian economy by exporting high-quality products. The current size of the agriculture market is US$ 375 billion. According to Falca, agritech is expected to reach US$ 24 billion by 2025 with only 1% being addressed today.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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