Agritech platform Faarms has announced that it has secured $2 million from global investors in the seed funding round. The funding round was co-led by Dr Cornelius ( Conny ) Boersch and Koh Boon Hwee.
Alok Duggal, COO and Co-founder at Faarms, said, “The fund we have raised will be used to expand our footprint in north-eastern, central, and southern states of India. Besides, we are looking to add new product segments and services for the farmers as well, deploying advance technologies for seamless functioning of the multilingual platform making it easier for the farmers to access information.”
He further said, “We are thankful to all our investors who believed in our work and came forward to support us in building a company that is truly going to shape the farming ecosystem of our country.”
Taranbir Singh, Co-founder and CEO – Faarms, added, “Faarms was conceived with the aim to build an e-marketplace for the farming community of our country with the idea to help a kisaan purchase inputs from some of the best-known brands in the world and obtain crop-related advice at the click of a button, sitting at home. We want to bring financial inclusion and spread digital literacy to rural India by helping farmers adopt digital payment with the help of on-ground staff.”
FAARMS is a new age digital platform catering to the needs of farmers. It aims to offer a one-stop solution to farmers providing a spectrum of products and services that include seeds, fertilizers, pesticides, animal feed, etc with products delivered at their doorstep.
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.