Omnichannel farm-to-fork startup Kisankonnect has bagged $4.5 Mn (around INR 39 Cr) in a Series A funding round led by Mistry Ventures.
The fundraise also saw participation from Times Group’s Brand Capital, VC-Grid, Desai & Diwanji’s managing partner Vishwang Desai and other prominent family offices. Besides, its existing investor Shilpa Shetty also invested in the round.
The Mumbai-based startup plans to deploy the fresh proceeds to strengthen its tech infrastructure, scale up operations while also expanding its presence in key urban markets.
KisanKonnect also aims to enable use of artificial intelligence on the farm sourcing and supply-chain to enhance efficiency and effectiveness.
Founded in 2020 by Vivek Nirmal and Nidhi Nirmal, KisanKonnect sources food directly from its network of farmers through its village-level collection centres, and with no interference from the middlemen, delivers the produce to the consumers.
The company claims to have built a network of more than 5,000 farmers, with sustainable farming practices and regenerative agriculture methods.
“Our D2C model, combined with a highly specialized, tech-enabled, and temperature-controlled supply chain, not only meets this demand but also offers complete traceability for consumers. This approach has earned Kisankonnect the trust of our markets, making us the preferred brand for fresh produce,” Vivek said.
With the quick commerce potential being challenged by new players entering the market, KisanKonnect has also joined the bandwagon.
Nidhi added, “We started with a 48-hour delivery model just four years ago. Today, we deliver within 4-6 hours across Mumbai and Pune. Our recent pilot for 30-minute delivery has been highly appreciated by consumers seeking convenience without compromising on quality and variety.”
It is evident that the investors are betting on KisanKonnect’s innovative approach to fresh produce supply chains.
In January last year, the company raised INR 31 Cr (around $3.7 Mn) as a part of its Pre-Series A funding round to increase its activities in climate-smart agriculture interventions, strengthen its fresh-produce supply chain technology and add new farm stores to the existing ones in Mumbai and Pune.
This investment comes at a time when agritech startups have been pooling funds to back their tech abilities.
For instance, last week, agritech startup Fambo secured INR 21 Cr (around $2.4 Mn) in a seed funding round to scale up its operations across India, establish an export vertical, invest in technology and grow its network of partner farms.
Blog Source: Inc42