Rajasthan, India-based agri-tech platform Eeki Foods, raised USD 6.5 million in Series A funding on April 19, 2022. General Catalyst led the funding for Eeki Foods.
Other key investors such as Avaana Capital, Better Capital, Irving Fain (CEO and founder of Bowery Farming), Subbu Palaniappan (Director and Head of Amazon Prime India), Srinivas Narayanan (former VP- of engineering at Facebook), Akhil Gupta, and Amit Kumar Agarwal (co-founders of NoBroker.com).
Purpose of Funding for Eeki Foods
The latest capital will help Eeki Foods to scale it to hundreds of acres. Besides, the company wants to focus on building an experienced team, technology, and organisational scale in the coming year.
Earlier in February 2022, Eeki Foods had raised USD 2 million, led by Avaana Capital and other investors, to expand its business and upgrade technology.
Previously EekiFoods raised capital from GSF Accelerator and individual investors in a pre-series A round. Existing investors of the agritech platform include Ramakant Sharma, Founder of Livspace, Harsh Shah, Founder of Fynd, and Kunal Shah, Founder of CRED, among others.
What the founders have to say
“The fresh funds will scale Eeki to hundreds of acres. This coming year, we will focus on building the team, technology and organisational scale to make this growth a reality. We are actively looking to establish partnerships with corporates, high net-worth individuals, and other retail farmers in Rajasthan, Delhi-NCR, and Maharashtra to build such farms across the country,” said Abhay Singh, CEO and Co-Founder and Amit Kumar, COO and Co-Founder of Eeki Foods, in a statement.
What the investors have to say
“Eeki’s innovative, India-centric growing system as well as its unique business model are making a meaningful difference in the lives and livelihoods of farming partners and consumers. Amit and Abhay are building an important company with Responsible Innovation at the core,” said Anand Chandrasekaran, Partner at General Catalyst.
In addition, Anjali Bansal of Avaana Capital said, “We, at Avaana, are delighted to be early believers and support Eeki’s vision to create climate-resilient agricultural systems. Eeki’s patent-pending technology revolutionises controlled environment agriculture, producing high-quality staple vegetables at affordable prices. We are proud to participate in the team’s journey as investors. Moreover, we are excited about Eeki building the future of farming.”
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