AgroWave, a startup that is building farm2business mobility supply chain, announced it has raised close to $500,000 in funding from Sekhar Puli, a US-based investor.
Founded in 2017 by IIT Delhi alumni Anu Meena, AgroWave is working to build a sustainable supply chain for fruits and vegetables.
AgroWave’s process consists of establishing technology-driven mobile pickup stations (MPS) in villages at farm-gates from where they collect the farm produce. The farmers receive notifications on the app about the MPS timings and other information. Customised sorting, grading and packaging helps to maintain the quality. Due to free of cost on-time delivery with their tech-enabled logistics processes by trained professionals, the produce is delivered straight to the customers.
The company will use the current funding to scale its mobile pickup station model in more villages and it is also building a price prediction model at the supply side for the farmers, for which the company will expand its technology team. Explaining about its prediction model, Anu said in a press release that the AgroWave mobile app will predict a price when the farmers will put a request to sell the produce.
“It’s important to build trust with farmers to work with them. Our mobile pickup station model MPS(s) is helping us build trust with small and medium farmers in rural areas. It is helping them to sell the produce easily in their own village through our mobile app. We are building farm to business mobility supply chain through an integrated network of mobile pickup stations at farm gates. We are focused to build strong technology to create more efficient supply chain,” said Anu.
AgroWave plans to build more than 50 MPS(s) this year and is eyeing to raise funding of $10 million in the next one year to build 1,000 MPS(s) and utilise it in price prediction engine, smart route mapping, and data driven supply demand mapping systems.
Earlier in 2017, AgroWave had raised an undisclosed amount of funding from Daffodil Software Pvt Limited.
–AN
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.