Bangalore based platform that connects farmers to ultimate customers, Aibono announced on 4th September, 2020, that secured USD 2 million. The round was led by Mitsui Sumitomo Insurance Venture Capital, Rebright Partners, Lesing Artha which is a subsidiary of Rianta Capital.
The company deploys data science and technology in order to improve the agriculture efficiency of farmers and aggregate demand by working with small retailers.
Director of Lesing Artha, Audrey Selian, explained, “The prevailing pandemic outbreak and its adverse effect on food production, consumption & wastage validate the emergency need for advanced technology and data science intervention to course-correct.”
Aibono has recruited farmers in the Nilgiri belt and supplies hill herbs, leafy greens, vegetables and organics to the retailers and consumers.
They claim that their data science driven demand supply synchronization supports prevention of food wastage and improves efficiency of farmers by specializing in perishable vegetables.
Aibono provides hundred per-cent buy back at an assured price for vegetables to the farmers and raises farm yields by deploying Artificial Intelligence (AI) and precision farming services.
Founders of Aibono, Vivek Rajkumar, commented, “With this investment round, we will now invest to scale capacity and increase supply to our existing retailers (corner store) businesses by expanding to institutional retail as well as making possible direct-to-home supply of super perishables through modern delivery platforms like Amazon, Dunzo and Swiggy in the next phase of our growth.”
Previously the company has secured USD 2.5 million in March 2019, from impact fund Menterra Venture Advisors.
Founding General Partner of Rebright Partners, Takeshi Ebihara, believes that as the government is currently focusing on establishing farm gate infrastructure, start-ups like Aibono who make full stack agri businesses are lucrative to invest in.
Aibono was also the topper in the Social Enterprise category in 2017 edition of the Startup Awards.
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