There is a boom in agriculture, more precisely, in the agrotech sector, with considerable investments being made. FAAD Capital, a Gurugram-based venture capital firm has announced investments of $121,000 in four agrotech companies – Godaam Innovations, VedaFit Foods, Mkelly Biotech, and Aqin Biotech.
The company manages a portfolio of 100 startups. The funding was made to strengthen the innovations in the agricultural sector. Additionally, this investment was a part of the Agrimanch accelerator programme.
More about the startups:
- Godaam Innovations provides smart storage solutions to enhance supply chain efficiency and reduce post-harvest losses.
- VedaFit Foods works to create healthy and natural foods, replacing artificial foods. The company uses natural ingredients fortified with nutrition.
- Mkelly Biotech has developed a premix powder made from mushrooms and millets that can enrich flour’s nutritional value.
- Aqin Biotech mainly focuses on livestock feed and aquaculture. The company manufactures a proprietary mix that improves animal survival rates and reduces mortality by a good percentage.
Beyond pre-seed funding, FAAD will offer post-funding support to the companies, which includes connecting the companies with stakeholders and building networks within the agricultural sector.
On this strategic move, Aditya Arora, CEO at FAAD Capital, stated, “Our investment goes beyond just financial backing; we are committed to providing the necessary resources and connections to help these startups thrive and make a significant impact in the ever-growing agriculture sector. Each of these innovative companies will drive sustainability and technological advancement.”
