Agritech startup Aqgromalin has raised USD 5.25 million (about Rs 39.5 crore) from investors including Sequoia Capital India’s – Surge and Venture funds, Omnivore Partners India and Zephyr Peacock India, to expand operations.
The Chennai-based Aqgromalin is building a full stack AgTech platform that helps farmers diversify into animal husbandry and aquaculture, a company statement said. The startup has raised this amount in pre-series A funding round.
The Chennai-based startup provides a data-backed, traceable, supply chain to farmers, butchers, meat companies and exporters for their poultry, seafood and livestock needs.
The startup said it has recorded a 10 times revenue growth in the last six months, and has over 3,00,000 farmers and micro-entrepreneurs on their platform.
Aqgromalin was founded in Chennai by Bharani CL and Prasanna Manogaran in October 2020.
“Animal husbandry and aquaculture are highly fragmented and underserved sectors in the Indian agricultural landscape,” said Bharani CL.
“As part of the fund acquisition, we look forward to expanding our operations and helping farmers overcome the challenges of limited availability of quality live inputs, and lack of access to markets,” said Prasanna Manogaran.
The platform enables farmers to access quality inputs delivered to the farm-gate, giving them a wider choice of species, and transparent pricing.
On the downstream, the platform enables the animal trade ecosystem to source a wide variety of animal produce with reliable supply and consistent quality.
Via AQAI, Aqgromalin offers end-to-end traceability of the produce to downstream partners.