Agritech platform, Falca raises over $ 3 million in a Pre-series A round led by Inflection Point Ventures, along with a combination of debt and equity funding. The round also saw a participation from LetsVenture, Mumbai Angels among other HNIs. The funds raised will be utilized in scaling the services beyond the current geographies, acquiring talent for growth, and focusing on building tech infrastructure for the platform.
Vinay Bansal, Founder & CEO, Inflection Point Ventures says, “Farming is unquestionably the largest livelihood provider in India. However, it is accompanied with multiple challenges which are undoubtedly taking much longer time to resolve considering a substantial region to cater. Organizations and Govt bodies have been working towards helping the farmers to increase their income and bring down the cost of farming. This has emerged as a large market opportunity for agri-tech startups. FALCA with its extensive research has curated a plethora of services for farmers right from the grass root level to final dispersion of product to the end users. It aims to educate the farmers through its platform and make them well versed with the usage of technology for cultivation and the benefits the FALCA has to offer to make a better living and profitable farming business. Along with its virtual support, the company now has its offline presence ‘Falca Rural Service Points’ with 30 centres. IPV aims to further strengthen the support for the farming community with FALCA”.
Santosh Danegoudar, Founder and CEO, FALCA says, "We directly work with farmers and offer them end-to-end farming solutions through a tech based Phygital platform. Our rural presence and technology platform connects the small holder farmers with the end markets for quality inputs, marketing produce, renting machinery, farm advisory and storage services. We are working with 1,00,000 + farmers currenly along with 60+ Input manufacturers & 65+ corporate buyers enabling transactions worth INR 1400 Mn."
Development in Agritech is beneficial for the industry and accelerates the Indian economy by exporting the quality goods/commodity. Agriculture market today stands at USD 375 Billion and Agritech is expected to reach USD 24 Billion by 2025 with only 1% being addressed today giving FALCA a huge growth room to execute their scale up plans.