Other key investors participating in this round include Avaana Capital; better capital; Irving Fain, CEO and founder of Bowery Farming (a GC portfolio company with a $2.3 billion valuation); Subbu Palaniappan, Director and Head of Amazon Prime India; Srinivas Narayanan, former vice president of engineering at Facebook; Akhil Gupta and Amit Kumar Agarwal, co-founders of NoBroker.com.
“Over the coming year, we will focus on building the team, technology and organizational scale. We are actively seeking partnerships with corporate, HNI and other retail farmers in Rajasthan, Delhi-NCR and Maharashtra to build such farms across the country,” said Abhay Singh, CEO and co-founder of ‘Eeki Foods.
Eeki Foods had previously raised funds from GSF Accelerator and Avaana Capital, Better Capital
ice.vc and O2 Angels Network respectively. Other existing investors include Ramakant Sharma, founder of Livspace; Harsh Shah, founder of Fynd; Kunal Shah, founder of CRED; IndiaMart CEO Dinesh Agarwal among others.
Founded in 2018 by Singh and Amit Kumar, Eeki Foods’ technology helps control the climate of the farm, allowing vegetables to be grown year-round without being affected by seasonal variations. Their IoT control mechanism deployed in farms makes operations more robust, cost-effective and less dependent on manual labor, according to the company’s statement.
“Eeki farms provide 300% more yield on any barren or unused land at 50% the cost of growing, using 80% less water,” he said.
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The company has farms in Rangpur, Bhilwara, Talera, Nanta and Panipat.
“Eeki’s innovative, India-centric cultivation system and unique business model are making a significant difference in the lives and livelihoods of farming partners and consumers,” said Anand Chandrasekaran, Partner at General Catalyst.