India-based AgriTech startup FarMart raises USD 10 million in Series A round

FarMart, an India based B2B SaaS-led food supply platform, raised USD 10 million in a Series A round led by Matrix Partners India on 21 October 2021. The round has provided an exit to early investors LetsVenture and Indian Angel Network.

Investors: Matrix Partners India led the latest funding round with participation from Innoven Capital and existing investors Omidyar Network India, Avaana Capital and 500 Startups. In addition, several angel investors participated in the round include Amit Lakhotia (Founder, Park+), KP Balaraj (Ex-founder, WestBridge Capital and Sequoia Capital India), Jitendra Gupta (Founder and CEO, Jupiter), OfBusiness Founder’s Fund, Revant Bhate and Dhyanesh Shah (Co-founders, Mosiac Wellness) among other marquee angel investors.

The Objectives behind the funding: The company plans to deploy the current proceeds to expand its distribution network across the country, scale product capabilities and grow the team. 

About FarMart

Founded in 2015 by two childhood friends Alekh Sanghera and Mehtab Singh Hans, FarMart is an agritech platform that helps businesses easily source high quality produce at reasonable prices. Leveraging its tech platform and the trust of agribusiness communities, FarMart makes the entire value chain streamlined, transparent and financially rewarding for both farmers and businesses. The company addresses the fragmented $300 billion food supply market in India. FarMart offers a micro-SaaS platform that enables retailers to digitise their workflow, increase sales to farmers and conduct their existing business more efficiently.

What the Founders have to say:

Alekh Sanghera, Co-founder of, FarMart said, “This fundraise is a true reflection of the vision we have at FarMart, which is to build an operating system for the agribusiness community in India, starting with agri-retailers who are at the core of our business. Our remarkable growth over the past few months is testament to our thesis of building a product-first and an asset-light business, driven by our amazing team.”

Mehtab Singh Hans, Co-founder, FarMart, said, "Riding on the wave of liberalisation of agri-markets, we are uniquely positioned to build a deep and liquid delivery-spot market for agri-commodities. Farmers across the country would have direct access to formal markets, selling any commodity within a vicinity of 5-7 km from their farms."

What the Investor has to say:

Sudipto Sannigrahi, Vice President, Matrix India, commented, “We are big believers of Alekh and Mehtab's vision of creating a capital-efficient and seamless food distribution network for the agri-retailer and farmer community. FarMart’s tech-led scalable model makes them well-positioned to disrupt the $300 billion+ Agriculture market, and their extremely strong growth over the last six months is a testament to their model and execution. We're excited to be a part of this disruptive journey with the FarMart team!"

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