Mumbai Angels and others invest in rural Agritech startup, Falca

 

Mumbai Angels and others invest in rural Agritech startup, Falca

The platform will use the funding to bolster its technology infrastructure, hire skilled Data Scientists and senior management professionals, and expand its geographical footprint. 23 January, 2023: Expanding its vast portfolio further, Mumbai Angels, a premium platform for private investments, has invested Pre-Series A fund in Falca, a rural Agritech startup offering end-to-end farming solutions through a tech-based Phygital platform. Falca will leverage the capital infusion to bolster its technology infrastructure, hire skilled Data Scientists and senior management professionals, and expand its geographical footprint.

Nandini Mansinghka, Co-Founder and CEO of Mumbai Angels, said, “India is undeniably an agrarian economy, given that the sector employs over half the population. However, the sector has long remained fragmented, unorganized, and one of the last to integrate technology. Falca has emerged as a game-changer in the industry, connecting farmers with the end markets, and enabling them to improve their sales and product yield. We are confident that this funding will help Falca ramp up its infrastructure and grow on all fronts.”

“Firstly, we are thankful to have marquee investors backing us in our journey to revolutionize the agriculture sector. We are driven by our mission to enable the farmer lifecycle by providing quality services at every phase of farming, from sowing to harvesting. Our goal is to be the first choice for a farmer for any agricultural services they are looking for. The latest capital infusion will definitely propel our growth and achievement of our goals,” added Santosh Danegoudar, Founder and CEO of Falca.

Founded in 2018, Falca’s rural presence and technology platform connect smallholder farmers with the end markets for quality inputs, marketing produce, renting machinery, and farm advisory. The company has onboarded 1,50,000+ farmers, 60+ Input manufacturers & 100+ corporate buyers enabling transactions worth INR 2,500+ Mn.

About Mumbai Angels Mumbai Angels, India’s premier platform for private investment that is now a part of 360 ONE (earlier known as IIFL Wealth & Asset Management), one of the leading wealth and alternates-focused asset firms in India, holds an AUM of USD 130 Mn and a 200+ strong portfolio spanning a wide range of sectors, such as Technology, Consumer, Life Sciences, DefenseTech, SpaceTech, EV, AgriTech, FinTech, EdTech, Gaming, and Content, etc. Of the overall portfolio, the platform has exited/secured the next round of funding for 100+ of them. The platform has 750+ investors spread across 70+ Global and Indian cities.