Thursday, October 6, 2022
HomeInsightFunding Alert Agritech startup EekiFoods raises $2 million led by Avaana Capital, others

[Funding alert] Agritech startup EekiFoods raises $2 million led by Avaana Capital, others

Agritech startup EekiFoods
Agritech startup EekiFoods

Agritech startup EekiFoods has raised $2 million led by Avaana Capital with participation from Better Capital and Icebreaker VC. Other key investors include Kunal Shah, founder CRED; Ramakant Sharma, founder Livspace; Abhishek Kejriwal, founder Kutumb; and, Harsh Shah, Fynd founder, O2 Angels Network and Gopinath K, Eeki IoT head including existing investor Spectrum.

Agritech startup EekiFoods was founded in 2018 by IIT Bombay Alumni Abhay Singh and Amit Kumar.

“Plant Growth System technology has been developed over 3 years, and innovation lies in creating the ideal zoenvironment for roots of the plants. The vegetables are residue-free, of consistent shape, size and colour, nutritionally fortified and available throughout the year from a local farm,” the company said.

The company will use the funds to expand its geographical presence, further technology development, increase the SKUs and onboard top talent.

“The company’s advanced proprietary technology enables them to produce and sell high-quality daily vegetables at affordable costs, and we are confident about the team’s ability to scale from here to create a large business,” Anjali Bansal of Avaana Capital said.

Agritech startup EekiFoods said that its technology saves 80% water, and the yield is at least 300 per cent more than conventional farming. It is partnering with corporates, HNIs, investors and local businesses to set up farms in Kota, Jaipur, on the outskirts of Mumbai-Pune, NCR and other cities.

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