Farmtheory, an agritech startup, has secured $1.45 million (INR 12 crore) in seed funding from Merak Ventures.
The startup plans to utilize the fresh capital to scale up its operations, primarily by expanding its supply arm, enhancing its technological infrastructure, and bolstering its supply chain through outreach to more farmers. This approach aims to ensure a robust and sustainable source of produce.
Established in 2019 by Arpit Agarwal and Sakshi Agarwal, Farmtheory aims to minimize food waste at its source, increase farm yields, and deliver quality ingredients to commercial kitchens.
Farmtheory labels the unsold produce as ‘freeform’ and procures it directly from farmers, supplying it to various buyers including cloud kitchens, catering companies, food processors, and restaurants. This produce can be utilized by buyers in the same manner as conventionally shaped produce.
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The Bengaluru-based startup aims to boost farmer incomes, mitigate food loss, and combat climate change by redirecting edible produce to new markets rather than letting it go to waste.
Farmtheory asserts that it has enlisted 3000 partner farmers to date and has catered to over 1500 kitchens. Moreover, the company intends to substantially expand its network of partners and geographical reach, moving forward to extend the benefits of its innovative model to more farmer communities across the nation.
“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,” said Arpit Agarwal.
Sheetal Bahl, Partner at Merak Ventures, expressed that Farmtheory is not only tackling the issues of food waste, farmer income, and climate change but also envisioning innovative solutions with the capacity to revolutionize the agricultural and food industry.
According to market research, the Indian agritech startup ecosystem is projected to have a total market opportunity worth $24 billion by 2025. Analysis shows that these startups have already secured more than $2.4 billion since 2014.
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