Agrowave Raises $2 Million In Pre-Series A The company intends to use the funds to expand the team and scale operations
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
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 $2 million 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 INR 100 crore.
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 approximately INR 15 crore. Besides its existing 3000-plus MPS, the company now eyes to invest in algorithms to efficiently optimize first mile logistics for its integrated network of MPS.
"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 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," said Anu Meena, founder of Agrowave.
"Small and marginal farmers are the backbone of this country and account for the majority of all farmers. We are delighted to be supporting Agrowave in their mission to empower farmers," said Gaurav Gulati, head and CIO, Aroa Ventures.
