The Bengaluru-based Woolly Farms, an agritech platform has raised Rs 4.39 crore in funding round led by Mumbai Angels, with other investors.
Callapina Capital, Malabar Angels Network and Mentorous Ventures also participated in this round.
The startup plans to use the funds to build its technology platform with an NFT ecosystem, and IoT-driven farms that enable centralized monitoring systems to manage farms at scale, and bolster sales and marketing efforts.
The Bengaluru-based Woolly Farms was founded in 2017 by Bushair A P, Nithun KV, Satyendra Prabhu, and Thamam Mubarish, It is an agricultural platform that integrates urban capacity with agricultural technologies to produce fresh food without pesticide-free nutrition.
“Agriculture contributes 17 percent to the global warming cause. But it’s important to understand that no business can sustain itself without having sustainability as a critical pillar. Without designing our systems for mass adoption of products from climate-friendly systems, the movement of sustainability would fail. The funding will allow us to bolster our infrastructure and expand our customer reach and footprint”, said, Bushair, AP, Co-Founder, and CEO of Woolly Farms.
Its consumer first agricultural ecosystem aims to create sustainable farms co-owned by consumers in urban areas. With a financial contribution of more than Rs 10,000, consumers are engaged in responsible urban farming through voluntary contributions to technology, agricultural practices and agricultural know-how in exchange for being entitled to fresh agricultural produce. Adoption of techniques, such as using zero soil, cultivating on top of tall buildings, using up to 95 percent less water consumption than conventional farming, are some of the solutions that are gaining interest and support from others.
“As an agrarian country, farming is at the core of the Indian economy that requires sustainable farming intervention on a priority. Woolly Farms has built a unique platform that ensures sustainable farm production of organic and affordable vegetables, especially off-season greens, through its consumer/producer participation approach based on a decentralized finance model. I am confident that the fresh funds will enable Woolly Farms to widen its reach as it scales up its tech infrastructure and business in different geographies,” said, Nandini Mansinghka, Co-Founder and CEO of Mumbai Angels.
“It is time for a different approach. With vertical farming (using hydroponics), Woolly is doing exactly that – solving for multiple challenges faced by traditional farming at once,” added, Vinod Jose, MD of Callapina Capital.
About Woolly Farms
Woolly is a C2C Customer to Customer urban farming Network.
It is a cluster of digital urban farms connected with consumers and woolly empowered growers in a community – intending to build sustainable cities and make ready our food systems for generations.