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Farmers Fresh Zone, an agri-tech start-up, has raised an undisclosed amount in seed round of funding from Indian Angel Network (IAN) and its maiden VC Fund, IAN Fund, led by Nagaraja Prakasam and PK Gopalakrishnan along with Malabar Angels and Native Lead.
The investment will help FarmersFZ to strengthen its leadership position, bolster its geographical reach and strengthening customer acquisition, a statement issued here said.
Pradeep PS, Founder, FarmersFZ, said He pointed out that India is the second largest producer of fruits and vegetables after China, and the 300-million tonne F&V market is estimated at ₹4 lakh crore. Of this, nearly 95 per cent is in the unorganised sector operating through local vendors sourcing from traditional mandis and multiple intermediaries. The Farmers FZ platform is helping the rural farmers turn profitable and directly reach out to customers.
IAN’s lead investor Prakasam said, “FarmersFZ’s unique model encourages farmers to use technology to track and use best practices and rewards them with better prices while consumer gets the complete transparency and traceability, so they know the farmer who is growing their vegetables and fruits.”
Currently, FarmersFZ connects more than 350 profitable farmers and 10,000 customers. The start-up further aims at increasing the scalability of the business in next four years by adding seven more cities in India, connecting 20 lakhs of customers and 25,000 of profitable farmers.
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