A Pre-series A round led by Inflection Point Ventures and involving a combination of debt and equity capital brings in over $3 million for the agritech platform Falca. Along with other HNIs, LetsVenture and Mumbai Angels participated in the round.
The money raised will be used to expand the services’ geographic scope, hire talent for expansion, and concentrate on developing the platform’s technical infrastructure, as per reported by Business World.
Falca is a rural AgTech supply chain firm that provides a one-stop shop for all farming needs. It was founded by Santosh Danegoudar in 2018.
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. We are working with 1,00,000 + farmers currenly along with 60+ Input manufacturers & 65+ corporate buyers enabling transactions worth INR 1400 Mn.”
Falca provides input solutions, advisory solutions, and market linkages through a farmer-centric phygital (Physical + Digital) platform with the goal of improving the farmer lifecycle. Falca believes in the physical approach since building trust with farmers is the key to providing them with services.
Vinay Bansal, Founder & 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 Govt 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 startups. FALCA with its extensive research has curated a plethora of services for farmers right from the grass root level to final dispersion of product to the end users. It aims to educate the farmers through its platform and make them well versed with the usage of technology for cultivation and the benefits the FALCA has to offer to make a better living and profitable farming business. Along with its virtual support, the company now has its offline presence ‘Falca Rural Service Points’ with 30 centres. IPV aims to further strengthen the support for the farming community with FALCA”.
The solutions are offered through the technology platform F-Shop (Input e-commerce platform) & F-Market (Market linkages platform) and network of physical centres (Raita Unnati Kendra). Till now the company has established 9 centres in Karnataka & Maharashtra covering 23 districts. Through these centres, 50,000+ farmers are onboarded into the platform.
FALCA is a Rural AgriTech supply chain firm that provides small & marginal farmers with one-stop farming solutions through its “physical” presence: Both the physical FALCA Raitha Unnati Kendras, where farmers may go in to receive services, and the digital suite of applications, which allows farmers to receive online services, are present.