STARTUPS
It’s Raining Money For AgriTech Startups: EM3 Agri And Crofarm Raise Funding

Image result for It’s Raining Money For AgriTech Startups: EM3 Agri And Crofarm Raise FundingIn a country with 157.35 Mn hectares of agricultural land, about 250 oddagritech startups are working to support a cultivating population of over 118.9 Mn. With the aim of improving the efficiency and output of the farming process, these startups are together shouldering the ambitious task of revolutionising the agriculture industry in India. Two agritech startups i.e. EM3 Agri Services and Crofarm have disclosed their funding today.

Noida-based EM3 Agri Services has raised $10 Mn in a Series B funding round led by Global Innovation Fund (GIF) and Crofarm secured about $783K (INR 5 Cr) Pre-Series A funding from a clutch of investors.

EM3 Agri Raises $10 Mn; To Focus On Technology Development

Farm mechanisation services company, EM3 Agri, has secured $10 Mn Series B funding from UK-based Global Innovation Fund (GIF) and existing investor, Aspada Investments. The investment will be utilised to expand the startup’s geographical reach, build new technologies, and boost ecosystem capacity.

Established in 2014 by Rohtash Mal and son Adwitiya Mal, EM3 Agri provides pay-per-use farm services for every step of the cultivation process, including land development, land preparation, seeding, sowing, planting, crop care, harvesting and post-harvest field management. Farmers can access these services through a mobile app, and can also seek assistance from the company’s local fulfillment centre, “Samadhan Kendra”.

Speaking about the investment, EM3 Agri CEO, Adwitiya Mal, added, “The next farm revolution is taking place through access to mechanisation. However, with a disorganised mechanisation ecosystem today, the rural economy is not able to fully realise its potential. We are pleased that GIF and Aspada are investing in building tomorrow’s farm economy.”

Image Credit: Window To News

[“Source-inc42”]

About the author

Related Post