VeGrow, an agri-tech startup that is aggregating small farmlands across the country to stitch together ‘world’s largest’ asset light farm, has secured $2.5 million in seed capital. The round was led by Matrix Partners along with Ankur Capital. The round also saw participation from Better Capital, Titan Capital as well as prominent angel investors including Mr. Sanjiv Rangrass – CEO of ITC Ltd Agri Business Division, Rohit MA – Founder of Cloud 9, Ramakant Sharma – Founder of Livsapce and Amit Lakhotia – Founder of Park+.
VeGrow is adopting an aggregation model which has steadily picked up in the agritech space. The startup aims to build the world’s biggest asset-light farm by partnering with small farms on a profit-sharing model. Vegrow says that it helps increase net earnings of partner farmers by leveraging technology across different stages of the farming cycle – it helps them in crop planning, gives them access to quality inputs, monitors their adherence to best practices and ultimately sells their harvest to the right set of buyers.
The founders came up with the model after getting into farming themselves at a small scale and driving production through tech. Praneeth Kumar, Co-founder, Vegrow said, “Our collective experience of working on multiple agri initiatives led us to realise that, with the right set of tech interventions, farming can be a highly remunerative business. We validated this hypothesis by farming on our own, and in this process, we also developed a deeper understanding of the nuances of farming.”