Agri-tech platform Falca has raised over $ 3 million in pre-series A round led by Inflection Point Ventures, along with a combination of debt and equity funding. The round also saw participation from LetsVenture, and Mumbai Angels among other HNIs.
“The funds will be utilised in scaling the services beyond the current geographies, acquiring talent for growth, and focusing on building tech infrastructure for the platform,” Falca said.
The rural agri-tech supply chain platform offers farming solutions to small & marginal farmers by providing services like quality & authentic inputs to avail machinery on rent, market linkages, storage solutions, advisory & technologies for enhancing farm productivity.
Falca said it is currently working with 1,00,000 lakh farmers and helping them at various stages from testing the soil to selecting the right fertilizer for the highest yield.
Vinay Bansal, founder & CEO, Inflection Point Ventures said, “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.”
“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”, he added.
The platform also offers free analytical support to farmers such as weather conditions, supply-demand gaps, market prices, and suitable harvest times. Agricultural companies can also list their products/commodities through the platform.
Santosh Danegoudar, Founder and CEO, Falca said, “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 smallholder farmers with the end markets for quality inputs, marketing produce, renting machinery, farm advisory and storage services.”
We are working with over 1,00,000 farmers currently along with more than 60 input manufacturers and over 65 corporate buyers enabling transactions worth Rs 1,400 million, Danegoudar added.
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