Gurugram-based early-stage venture capital firm FAAD Capital has announced a strategic investment of $121,000 in four agritech startups as part of their AgriManch accelerator program. The recipients of this pre-seed round investment are Godaam Innovations, VedaFit Foods, Aqin Biotech, and Mkelly Biotech. This funding aims to support their mission to revolutionize the agriculture industry through innovative solutions.
What Do These Startups Do?
- Godaam Innovations: This startup, which has already raised $180,000 in external funds, offers smart storage solutions to reduce post-harvest losses and enhance supply chain efficiency.
- Aqin Biotech: Focusing on aquaculture and livestock feed, Aqin Biotech has developed a proprietary mix that improves animal survival rates by 20-25% and reduces mortality by 60-70%.
- Mkelly Biotech: Mkelly Biotech has created a premix powder made from millets and mushrooms to enrich the nutritional profile of flour, making it healthier and more nutritious.
- VedaFit Foods: VedaFit Foods produces genuinely healthy and natural products, eliminating artificial ingredients and enhancing essential nutrition.
Post-Funding Support from FAAD Capital
Beyond financial investment, FAAD Capital will also provide comprehensive post-funding support. This includes connecting the startups with the right stakeholders to generate revenue and build networks within the agriculture sector, enabling an effective go-to-market strategy. Aditya Arora, CEO of FAAD Capital, stated, “Our investment goes beyond just financial backing; we are committed to providing the necessary resources and connections to help these startups thrive and make a significant impact in the ever-growing agriculture sector.”
Strategic Vision
Vatsal Lunawat from the Investments Team at FAAD Capital highlighted, “Securing funds under AgriManch for these agritech startups spread across agri fintech, horticulture, mushrooms, and aqua feed, among others, and presenting their potential to the right stakeholders has been a rewarding journey. By doing so, we are not only enabling these startups but are also opening doors to propel the next wave of agricultural technology in the country.”
FAAD Capital’s Portfolio and Vision
FAAD Capital, a SEBI-registered Category 1 Angel Fund, manages a portfolio of over 100 startups with more than ten successful exits since its inception in 2019. With a corpus of $40 million, FAAD invests between $100k to $500k across diverse sectors from pre-seed to Series A stages. The firm collaborates with various industry stakeholders to foster innovation and sustainability within the agriculture sector, aiming to empower the next generation of agritech pioneers and transform the future of agriculture.
