Agritech startup Agrowave secures around ₹ 15 crore investment from Aroa Ventures

Agritech startup Agrowave secures around ₹ 15 crore investment from Aroa Ventures

In recent years, India has seen a rapid growth of agritech startups. And adding a new example, Agrowave announced on Friday that the company had raised गुंत 2 million (about कोटी 15 million).

The Gurugram-based company received the investment from Aroa Ventures, the family office of OYO founder Riteish Agarwal.

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The company says it will use the new capital to expand the team and expand operations, with the goal of achieving a monthly gross turnover (GMV) of over ₹ 100 crore.

Not only that, the company also intends to invest in improving the first-mile logistics related to the network of mobile pickup stations with its existing 3,000 mobile pickup stations.

Agrowave was started in 2017 by Anu Meena. This allows startup farmers to sell their produce at a better price at their doorstep.

Agrowave
Image Credit: Agrowave

It is trying to set up more than 40,000 mobile pickup stations for the purpose of direct purchase from farmers.

With the farm-to-market marketplace model, the company claims to have registered a gross commercial value (GMV) of around ₹ 15 crore and a volume of 8000 tons operating in more than 150 villages in December 2021.

Anu Meena, founder of Agrowave, said,

“The company is developing a solution that allows farmers to sell their produce at a few clicks from their farm-gate.”

“With this new investment, we will further expand our farmer network, as well as make this market more transparent and have a positive impact on farmers’ livelihoods.”

The company has already started operations in Delhi-NCR, Haryana, Punjab, Uttar Pradesh, Madhya Pradesh and Rajasthan and is now expanding its presence in other geographical regions.

The company intends to expand to remote and inaccessible areas, where it strives to equip them with all facilities, working with many skilled farmers.

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