Mumbai, Oct 6: Agri-tech platform Falcasaid said it has raised over USD 3 million in Pre-Series A round led by Inflection Point Ventures, along with a combination of debt and equity funding.
The funds raised will be utilized in scaling the services beyond the current geographies, acquiring talent for growth and focusing on building tech infrastructure for the platform.
Falca is a Rural AgriTech supply chain platform offering one stop farming solutions to small and marginal farmers by providing an array of services right from quality and authentic inputs to avail machinery on rent, market linkages, feasible storage solutions, advisory and technologies for enhancing farm productivity and more.
Falca is currently working with 1,00,000 lakh farmers and helping them at every stage from testing the soil to selecting the right fertilizer for highest yield. Farmers can now sell their produce at a better price from their fields without extra overhead costs like logistics, middlemen, packaging directly to consumers.
Falca’s platform also offers analytical support for free such as weather conditions, supply-demand gaps, market prices, and suitable harvest times. Agricultural companies can also list their products/commodities through the platform.
Vinay Bansal, founder and CEO, Inflection Point Ventures, says: ?Farming is unquestionably the largest livelihood provider in India. However, it is accompanied with multiple challenges which are undoubtedly taking much longer time to resolve considering a substantial region to cater.
“Organizations and government bodies have been working towards helping the farmers to increase their income and bring down the cost of farming. This has emerged as a large market opportunity for agri-tech start-ups.”
Due to technological advancements, farmers can now rent the latest equipment or tractor as per their requirements which further brings down the cost to sow and harvest the crops. Through the use of the latest mechanisation, farmers can undertake agricultural activities in a hassle-free manner and increase their productivity.
Santosh Danegoudar, Founder and CEO, FALCA, says: “We directly work with farmers and offer them end-to-end farming solutions through a tech based Phygital platform.
“Our rural presence and technology platform connects the small holder farmers with the end markets for quality inputs, marketing produce, renting machinery, farm advisory and storage services.”