SUMMARY
The farming community and the early founding members of TBOF have been allocated shares of the company
The startup sells the produce at the farmers’ market of Mumbai every weekend, to ensure a shorter value chain of buying directly from farmers, for consumers
The funding will be used for expansion, farmers’ training, and enhancing manufacturing capacity
Actor Akshay Kumar and former cricketer Virender Sehwag along with some other unspecified investors have reportedly invested an undisclosed amount in agritech startup Two Brothers Organic Farm (TBOF) in a Pre-Series A round.
The funding will be used to expand the business domestically and globally, enhancing the manufacturing capacity and conducting training facilities for the farmers associated with the startup.
Commenting on the funding, Sehwag said, “It is heartening to see the positive impact they have brought in the lives of farmers and people’s health across India and beyond.” Meanwhile, Akshay Kumar noted that he is a firm believer in sustainability and thus, the ideals of Two Brothers Organic Farm align with his principles.
Based out of Pune, TBOF was founded by Ajinkya Hange and Satyajit Hange in 2012. The idea of the startup was generated when the two founding brothers returned to their village with the aim to take up farming as a full-time job.
Commenting on the fundraise, Satyajit said, “The pre-Series A will set the base for Series A.”
The founders aim to make the rural lives of TBOF’s farmer community better and thus, they expect that this fundraise will help them generate employment for the farmers and especially, the women of the village.
According to the official statement, the Hange brothers have launched several initiatives to create awareness about organic farming among farmers, and trained more than 16,000 farmers in sustainable farming over the past few years.
The startup claims to have allocated shares to each of the members of the farming team and the early founding members of the startup.
The startup claims, “While securing rural livelihoods and employment, we harness the power of community to offer solutions to public health and climate change.” According to the startup’s official blog, TBOF believes in sustainability and its regular customers purchase their products in glass containers that they carry from their homes.
The startup sells the produce at the farmers’ market of Mumbai every weekend, to ensure a shorter value chain of buying directly from farmers, for consumers.
With the increasingly fast and changing lifestyle, people have started preferring the usage of organic products to maintain a healthy lifestyle, which in turn has been boosting investments in the sector.
Recently, Delhi based INI Farms that produces organic food products, has raised $1.95 Mn from Aavishkaar Capital’s ESG First Fund. In December last year, another agro-based startup Eggoz raised $8.8 Mn.
Last year, Startup India reported that even today, 70% of Indian households earn from agriculture, which contributes to almost 17-18% of the country’s GDP.
