Agrowave, a startup that acts as a supplier of fresh produce, has raised an undisclosed amount of angel funding from Daffodil Software, owned by serial entrepreneur Yogesh Agarwal. The development was first reported by VCCircle.
The newly raised funding will be used by the company to strengthen its technology capabilities and further scale its operations.
The company was founded earlier this year by Anu Meena. Agrowave procures fruits and vegetables directly from farmers, locally and interstate from Haryana and Uttar Pradesh. It then supplies the same to its clients in Delhi-NCR, which includes retail stores, kirana shops, hotels, and corporate canteens.
The startup says that it is using technology to conduct quality mapping and demand prediction, and analytics to organise procurement. Anu Meena says,
We are trying to optimise the existing agricultural supply chain using analytics, research and technology. Our aim is to provide the best price to the farmers by eliminating middlemen.
The company says that it is optimizing supply chain of agriculture to support farmers and educating them about efficient farming & other opportunities. Having more than 30 clients at present, the company claims to be doing transactions worth around ₹50,000 on daily basis.
Agro and farm-related startups that use tech solutions, supply chain systems, and retail businesses, seems to have got investors’ interest. Last week, Farm Taaza, which secured ₹52 crore ($8 million) in a new Series A funding round.