Matrix Partners India announced today that it has invested an undisclosed amount in Gobasco, an agri-tech startup. The funds will be used by the startup to expand the team and scale their technology platform built for agri-related SME’s and farmers.
Gobasco was founded in 2017 to solve complex supply chain optimization problems in agri-commodities. Both co-founders, Vedant Katiyar and Abhishek Sharma have deep personal connections with the agricultural landscape. Vedant is an alumnus of BITS Pilani and FMS Delhi and his family runs cold storages in Uttar Pradesh. Abhishek Sharma used to be an AI researcher at Apple, has family members involved in farming, is an alumnus of IIT Roorkee and is a PhD in AI from the University of Maryland.
Commenting on the fundraise, Abhishek Sharma, Co-Founder, Gobasco said, "Our goal is to bring the power of AI and big data to optimize the agri-supply-chain of India which directly translates into the betterment of millions of Indians. I am personally thrilled at the rate and scale at which we are bringing the benefits of cutting-edge technologies to the rural backyard of the world."
“SMEs in India are adopting technology at a rapid pace, thus opening up opportunities in large, underserved markets like agriculture. Gobasco’s approach provides farmers and agri-SME’s with a data-rich technology platform and network to grow their profits, thereby creating new opportunities in rural commerce. The team is growing fast, is highly mission driven and it is our privilege to partner with Vedant and Abhishek on this journey.” said Rajinder Balaraman, Vice President, Matrix India.