Agritech startup Our Food has raised $6 million in a funding round from existing investor 3Lines Venture Capital and a new investor, C4D Asia Fund. Lalit Jalan, India chairman of 3Lines, will join the company’s board of directors.
Agritech startup Our Food was founded by Bala Reddy in 2016.
“This capital infusion will help us boost our capacity to over 6,000 operational franchises, gives us the right ammunition to significantly disrupt the food processing industry and position us for an IPO in 2024,” Bala Reddy, Founder and CEO, Our Food, said.
Our Food is a technology-driven agribusiness platform that is on a mission to decentralize the food processing industry with an innovative farmer adoption and engagement supply-chain platform across the country.
They are disrupting the traditional centralized food processing industry by establishing a network of “Farmer Franchises” that deploy new age, low-cost micro-processing units with the help of rural entrepreneurs to process the raw material at the farm gate.
Agritech startup Our Food provide low-cost processing equipment along with financial assistance so that the farmer has a market-ready product to sell in the market, eliminate the middlemen in the supply chain thus reducing the transactional costs and providing the best price to the farmer and consumer.
They bridge the gap between the farmers and consumers through their platform thus reducing wastage, lead time and operational inefficiencies.