Agritech Startup Fambo Bags INR 21 Cr To Scale Up Operations

Agritech Startup Fambo Bags INR 21 Cr To Scale Up Operations

SUMMARY

The round also saw participation from GSF Accelerator’s founder and chief executive Rajesh Sawhney and several ultra high net worth individuals (UHNIs)

The company is planning to use the fresh capital to scale up its operations across India, establish an export vertical, invest in technology and grow its network of partner farms

The Noida-based startup claims to serve more than 500 QSR chains and cloud kitchens, including Burger King, McDonald's, California Burrito, Burger Singh, Farzi Café, and Barbeque Nation

Agritech startup Fambo has secured INR 21 Cr (around $2.4 Mn) in a seed funding round led by EV2 Ventures.

The round also saw participation from GSF Accelerator’s founder and chief executive Rajesh Sawhney and several ultra high net worth individuals (UHNIs). 

The company is planning to use the fresh capital to scale up its operations across India, establish an export vertical, invest in technology and grow its network of partner farms. 

Founded in 2022 by Akshay Tripathi and Sudarshan Satle, Fambo is a platform that connects farmers directly with quick service restaurant (QSR) chains, hotels, and cloud kitchens,  to sell fresh produce, minimizing waste, and maintaining quality.

Its AI-powered platform helps restaurants manage provisions, purchase ingredients, and ensure a reliable supply chain with traceability.

The Noida-based startup claims to serve more than 500 QSR chains and cloud kitchens, including major brands like Burger King, McDonald’s, California Burrito, Burger Singh, Farzi Café, and Barbeque Nation.

“We’ve achieved less than 1% waste by effectively matching demand and supply and implementing tech-enabled agricultural practices, helping partner farms increase yield and reduce waste, thereby boosting their income,” said Satle, cofounder and chief operating officer of Fambo.

This development comes at a time when agritech startups have been gaining funds to back their tech abilities.

For instance, agritech startup AGRIM raised $17.3 Mn (around 145 Cr) in its Series B funding round to strengthen its tech stack, enhance offerings and scale up its operations, about four months ago.

Meanwhile, Bengaluru-based B2B agritech company Agrizy secured $9.8 Mn (INR 82 Cr) in a Series A funding round to expand into new products and regions, in August 2024.

Prior to that, Two Brothers Organic Farms bagged INR 58.25 Cr (around $7 Mn) in a Series A funding round to support its business growth in India and the US, while also exploring demand side opportunities and expanding supply side operations, in June last year.

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