Clover Ventures Pvt. Ltd, which operates as an agricultural-technology firm focussed on providing greenhouse-grown fresh produce, announced it has raised Rs 7 crore in debt funding from Alteria Capital.
Existing investors that took part in the debt funding round include venture capital firm Omnivore, Accel and Mayfield India.
“The recently closed Series A round alongside Alteria’s current investment will help us achieve our vision to reshape the supply chain for greenhouse-grown fresh produce,” Avinash BR, co-Founder of Clover said in a company statement.
Separately, Alteria Capital Managing Partner Vinod Murali said that the venture debt firm was confident of its commitment to Clover because of the potential of the larger agri-tech segment.
At the time of its initial Series A fundraise, the company said it would use the capital to grow its managed farm network and enter new cities and diversify its B2B and B2C offerings.
Bengaluru-based Clover was set up in December 2017 by Avinash BR, Gururaj Rao, Arvind Murali, and Santhosh Narasipura. The company says it partners with farmers and sells products through both business-to-business and business-to-consumer channels.
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.