Smart Farms, an agritech space, has bagged an undisclosed sum as part of its angel round from a bulk of angel investors.
Gurugram-based startup said that it will invest these funds in bolstering its technology offering, hiring senior level management as well as expand its operations.
Satish Sehrawat, Founder, Smart Farms, expressed, “With the first round of successful investment, Smart farms will be able to reshape and solve one of the toughest problems in the agri products distribution network through technology. We are already reaching almost 95 percent of farmers in the areas we are operational in. Further, technological advancements are driving new businesses through our zero investment inventory model and access to many agri services at the village level. But this is just the beginning, our first purpose is to utilise this investment in creating a thriving digital economy in rural India. ”
Smart Farms started by Satish Sehrawat in 2016. The platform aims to reduce the overall farming cost by providing an integrated system, along with an end-to-end logistics solution to the farmers, eliminating all middlemen.
In addition, the company is also developing a mobile-based application, which will provide guidance and many benefits to the farmers throughout the farming journey.
This way the company aims to encourage young farmers to join farming as a profession, thereby contribute to the agriculture ecosystem.
Some of the significant startups under the similar roof include Gramophone, which recently, raised ₹24 crore in series A funding, AgroStar also bagged $27 million (approx ₹192 crore) in a series C funding round in March, Ninjacart, CropIn, Sattvaponics, Origo, among others.