Hyderabad-based Our Food, a tech-driven agribusiness platform, has raised $6 million in a growth funding round led by 3Lines Venture Capital and C4D Asia Fund. Lalit Jalan, Chairman of 3Lines India and former CEO of Reliance Infrastructure, will join the company’s board of directors as part of the deal.
The startup had previously raised $200,000 in a seed round from 3Lines and 10,000 Startups, a Nasscom initiative to support technology entrepreneurship in the country, in 2018.
Bala Reddy, an IIM-Ahmedabad alumnus, founded the company in 2016 with the goal of decentralising the food processing industry across the country with an innovative farmer adoption and engagement supply-chain platform.
Our Food aims to disrupt the traditional centralised food processing industry by establishing a network of “Farmer Franchises” that deploy new generation, low-cost micro-processing units at the farm gate with the help of rural entrepreneurs.
Farmers in Andhra Pradesh, Telangana, Maharashtra, Madhya Pradesh, Rajasthan, Jharkhand, Odisha, and Karnataka are currently served by the Hyderabad-based agribusiness platform. It currently processes over 15 crops, including pulses, cereals, spices, and groundnuts, and plans to expand its crop portfolio in the near future.
The claims made by our food Our Food Farmer Franchises have been licenced by over 1,700 rural entrepreneurs, each of whom operates a regional crop-specific processing unit that procures and processes raw material from over a hundred farmers in nearby villages.
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