Falca, a rural agritech supply chain platform, that provides one stop farming solutions to small & marginal farmers, has announced a $3Mn Pre-Series A. The round was led by Inflection Point Ventures, in a combination of debt and equity funding. The round also saw a participation from LetsVenture, Mumbai Angels among other HNIs. The funds raised will be utilized in scaling the services beyond the current geographies, acquiring talent for growth, and focusing on building tech infrastructure for the platform.
Founded by Santosh Danegoudar in 2018, Falca provides an array of services right from quality & authentic inputs to avail machinery on rent, market linkages, feasible storage solutions, Advisory & technologies for enhancing farm productivity and more. The startup is currently working with 1,00,000 lakh farmers and helping them at every stage from testing the soil to selecting the right fertilizer for highest yield.
Talking about the fundraise, Danegoudar says, “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 small holder farmers with the end markets for quality inputs, marketing produce, renting machinery, farm advisory and storage services. We are working with 1,00,000 + farmers currenly along with 60+ Input manufacturers & 65+ corporate buyers enabling transactions worth INR 1400 Mn.”
Development in Agritech is beneficial for the industry and accelerates the Indian economy by exporting the quality goods/commodity. Agriculture market today stands at USD 375 Billion and Agritech is expected to reach USD 24 Billion by 2025 with only 1% being addressed today.