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India: FarmLink raises $3m from Pioneering Ventures, Syngenta

Mumbai-based agri-tech startup FarmLink has raised $3 million from the Indian arms of Swiss incubator-cum-investment firm Pioneering Ventures and agro-chemicals company Syngenta.

FarmLink, an end-to-end logistics solutions provider for supplying fruits and vegetables, will use the money to expand its geographical reach and strengthen its technology and analytics capabilities in the supply chain segment, the company said.

Incubated in 2014 by Pioneering Ventures, the company procures fruits and vegetables directly from farmers through a network of collection and service centres, and delivers the products to modern retail stores, quick service restaurant chains, industrial processors and e-commerce food platforms.

It also helps farmers to generate income with all-round support to improve productivity and quality. “We aim to transform the way fresh produce is grown and distributed in India by introducing global best practices. We also empower the farmers by providing knowledge and extension services such as agricultural credit, crop insurance and warehousing,” said Sreeram Chellappa, COO, FarmLink.

The company is in the final stages of implementing FarmTrace, a proprietary B2C consumer traceability app, which would allow consumers to track the product from farm-to-shelf, giving insights into when, where and how the food was grown.

Read more at VCCircle (Anirban Ghoshal)

Publication date: 11/16/2017



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