Faarms Funding Rural Tech Firm Raises $10 Million, Targets To Provide Doorstep Services To Farmers News

Expansion

Bengaluru-based rural tech startup FAARMS has raised $10 million in its funding round. Investors in the startup include Connie & Co, including global investors such as Dr. Cornelius Borsch, Singapore-based investor Koh Boon Hwe, venture catalyst Apoorva Ranjan Sharma, Ramit Mittal of the Bharti family, along with other Indian and international investors. Felix Advisory acted as financial advisor during this funding round.

The proceeds from the funding will be used to expand the company’s geographic footprint, expand their supply and distribution channels, restore and scale up their technology infrastructure, the startup said in a statement.

Let us tell you that the objective of Rural Tech Company FAARMS is to provide an end to end solution for rural households. The startup provides door step delivery of services like agricultural inputs, advisory, insurance and banking. The startup recently partnered with Bharat Bill Pay to make recurring payments like water, gas, electricity bills, loan repayment, insurance premium payments and secure products such as seeds, animal feed and farm equipment delivered directly to farmers across India. to provide management services.

The company’s co-founders Taranbir Singh and Alog Duggal said that we aim to create the ultimate digital platform to enable seamless, profitable and effective functioning of rural households.