Eeki Foods, an Agritech startup has raised $6.5 million in a Series A round. The round was led by General Catalyst, Bowery Farming, Amazon Prime India, NoBroker.com with participation form Avaana Capital and Better Capital.
Eeki Foods was founded by Abhay Singh and Amit Kumar in the year 2018. Eeki Foods is planning to make farming sustainable and climate-proof by using their patent-pending growing chambers that promote nutritious residue-free vegetables at reasonable prices.
The fresh funds will be utilized in many ways:
- To scale in hundreds of acres,
- Building the team, technology and organizational scale to make growth,
- Looking to establish partnerships with corporates, HNIs, and other retail farmers in Rajasthan, Delhi-NCR, and Maharashtra, aiming to build such farms across the country.
The technology used by Eeki Foods enables the farm's climate to be controlled, allowing vegetables to be cropped in the entire year without being affected by seasonal variations. Their patent-pending IoT control mechanism station on farms makes operations cost-friendly, and less reliant on manual work. Eeki Foods claimed that the revenue from its farms are at 300% hike with 80% of reduction in the usage of water.
EXECUTIVE OPINION:
"Eeki's innovative, India-centric growing system as well as its unique business model are making a meaningful difference in the lives and livelihoods of farming partners and consumers," said Anand Chandrasekaran, Partner at General Catalyst.
“Eeki's patent-pending technology revolutionizes controlled environment agriculture, producing high-quality staple vegetables at affordable prices. We are proud to participate in the team's journey as investors, and are excited about Eeki building the future of farming," said Anjali Bansal of Avaana Capital.
