Agrifood Fintech Startup Ayekart Secures USD 6.5 Mn in Series A Led by Omnivore and Others Mumbai-based agrifood fintech startup Ayekart plans to utilise the investment to enhance its technological capabilities and extend its operations nationwide.
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Agrifood fintech startup Ayekart has announced raising USD 6.5 million in a Series A round led by Omnivore, Siana Capital and Unleash Capital.
The startup aims to use the raised capital to expand its operations nationwide and cater to a larger audience of FPOs (farmer producer organizations), food manufacturers, distributors and retailers.
Debarshi Dutta, Co-founder and CEO of Ayekart, said, "We understand the critical pain points that agrifood MSMEs face – the need for market linkages, access to finance, and an efficient technology ecosystem to enhance their businesses. To address these challenges, we have developed innovative fintech solutions tailored to empower FPOs and agrifood MSMEs."
Founded in December 2020 by Debarshi Dutta, Ashutosh Singh, Milind Borgikar, Kunjal Thackar and Anand Mugad, Ayekart provides fintech and supply chain solutions for traditional businesses in the agrifood value chain.
With over 9,000 active merchants on its platform, the startup claims to be operating in 18 states and to have facilitated over 2.5 lakh transactions with over INR 21 billion lifetime GTV (Gross Traded Value).
Jinesh Shah, Managing Partner at Omnivore, added, "We are pleased to support Ayekart's efforts in improving farmers' lives and providing financial stability. Ayekart's focus on empowering agrifood MSMEs with its cutting-edge technological approach resonates deeply with our investment philosophy."
