Agritech startup digitizing India’s silk supply chain – ReshaMandi has raised $1.7M in seed round led by Omnivore and Strive Ventures. The fresh funding round also saw participation from Supply Chain Labs (Lumis) and Axilor Ventures.
“The founders’ plan is to use this funding to strengthen their digital platform and expand beyond Karnataka, establishing a presence in other important Indian silk hubs such as Maharashtra and Tamil Nadu.” – According to a press release.
Speaking on the development, Co-founder and CEO, ReshaMandi, Mayank Tiwari, said, “We are excited to bring the first technology-led disruption to India’s USD 10 billion silk industry. Our goal is to reduce the import of silk by helping Indian farmers improve their production capacity and quality.”
Founded in 2020, Reshamandi is digital supply chain for Silk and other Natural fibres. It aims to help all stakeholders of the supply chain by offering inputs, technical advisory and market linkage.
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.