We Founder Circle invests in three agritech startups

We Founder Circle (WFC), a Mumbai-based startup investment platform, announced on Monday that it has participated in three agritech startups investment deals totaling US$2.5 million.

Those startups in the Agrotech portfolio include Anveshan, the organic food startup with traceability technology; Humus, India's largest fresh farm to kitchen retail brand; and Hesa, rural distribution using phygital model and last-mile connect to villages to buy and sell.

While We Founder Circle facilitated the rounds, it also invested a total of $282,000 in them.

Speaking on the development, Neeraj Tyagi, Co-founder, and CEO, We Founder Circle, said,“ Agritech industry holds immense potential without a doubt. With the growing adoption of the internet, digitalization, and the fact that the agricultural economy in rural India cuts a thicker slice of the overall countries growth, one can easily say that if a model gains acceptance in this sector then there is no stopping for it."

"The market reports suggesting that the industry can grow to USD 24.1 bn in 5 years. In a short span we have already invested in 3 Agritech startups, and are looking forward to making 4 more investments this calendar year in the vertical,” he added.

We Founder Circle, which was founded in Mumbai and has invested in over 17 startups in just two quarters since its inception in August 2020, aims to make 40 startup investment deals by the end of fiscal 2021-22.

It invests between $100,000 and $200,000 in early-stage startups that are driven by ambition, sustainability, and a strategic approach.

WFC provides startups with seed funding, business development, and global networking opportunities because it believes that early-stage startups require more than just financial support to become scalable and stable.

In March 2021 they launched their first global accelerator fund program with a focus on Asia startups. Some of the startups WFC had already invested in - kNOCKSENSE, YPAY, BELORAPARIS, and so on.

Anveshan is a food-tech startup that aims to provide high-quality, fully traceable food. To provide the highest quality food products made traditionally, they use image processing, spectroscopy, blockchain, and IoT technologies.

It was founded in 2019 by three IIT alumni - Aayushi Khandelwal, Akhil Kansal, and Kuldeep Parewa - to empower Indian farmers and create a trustworthy food brand.

Anveshan received a 1.12Cr investment led by Titan Capital, along with 7 other groups of Angel Investors, in August 2020.

Hesa, an Indian rural tech startup, had previously raised $2 million in a seed funding round led by Venture Catalysts. Founded in 2019, allows local brands and businesses to collaborate as a community.

The platform facilitates marketing and service-based income from rural activities, as well as the promotion of village-level entrepreneurs. Importantly, it is open to other companies, which means it has the potential to foster a new culture of microbusinesses in rural India.

Also Read:

• Agritech startup Fyllo raises Rs 3 crore led by Indian Angel Network (IAN)

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