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Agritech Startup Agrowave Raises $2 M In Pre-Series A Funding From Aroa Ventures

The company intends to use the funding to build 40,000 active mobile pickup stations MPS(s) highest by any agri startup in India.

Agrowave, an agritech startup building a supply-driven farm-to-market mobility supply chain with focus on first-mile logistics and trades supply through an integrated network of mobile pickup stations, has raised $2million in Pre-Series A from Aroa Ventures the family office of Oyo founder Ritesh Agarwal. The company plans to use the funds to expand the team and scale operations to achieve a monthly GMV of over 100 crs.

Founded in 2017, Gurugram-based Agrowave is a first-of-a-kind agritech startup striving to build 40,000 mobile pickup stations (MPS) at farm gates to procure directly from farmers.  After pivoting to the farm-to-mandi market place model, Agrowave has significantly scaled and achieved gross merchandise value (GMV) of approx. 15 Cr, volume approx. 8000 tons by operating in 150+ villages  in the month of December 2021. Besides its existing 3000+ MPS(s), the company now eyes to invest in algorithms to efficiently optimize first mile logistics for its integrated network of Mobile Pickup stations.

Addressing the funding event, Founder of Agrowave Anu Meena said, “Growing up, I saw the challenges my grandfather, a farmer, faced.  Solving these challenges that farmers across India face, has since been my mission. We at AGROWAVE, are building solutions which enable farmers to sell their produce from their farm-gates in just a few clicks.  This funding will help us further expand our network of farmers, bring more transparency in the value chain, and most importantly positively impact the livelihood of farmers."

Agrowave’s innovative and scalable approach of building supply-driven farm-to-market mobility through technology focused on first-mile logistics and trade supply through an integrated network of MPS(s) has attracted several eyeballs and allowed the company to make a name for itself in the market. 

Speaking at the event, Hemendera Mathur, Advisor, Agrowave said, "Agrowave is solving a unique problem of connecting farmers with traders and buyers, in the first mile from farm to mandi. This is a hugely scalable model, with application of technology.  This round of funding is a testimony of the potential and team's ability to deliver on it"

Speaking on the funding development, Gaurav Gulati, Head & CIO, Aroa Ventures, said, “Small and marginal farmers are the backbone of this country and account for the majority of all farmers.  Innovation and technology shifts in this sector are critical to ensure that they have access to the best markets and prices.  We are delighted to be supporting Agrowave in their mission to empower farmers.”

Though Agrowave has already set up its base in Delhi-NCR, Haryana, Punjab, Uttar Pradesh, Madhya Pradesh, and Rajasthan, the company now plans to strengthen its presence in these markets further. On top of that, Agrowave has aggressive expansion plans in remote and hinterland areas where it intends to work with multiple skilled farmers and MPS(s).

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