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FarMart, a mobile-based agritech startup, has announced that it has raised $2.4 Mn in pre-series A round led by Omidyar Network India and Avaana Capital. Existing investors Indian Angel Network and LetsVenture also participated in this round.The funding will be used by FarMart to focus on product development, user base expansion, and to scale its market linkage capabilities.
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FarMart helps agri-retailers serve farmers better by providing them with access to information, market linkages, and input. FarMart said it aims to make the entire value chain - from input to output - streamlined and remunerative. It does so by leveraging technology, the trust of the agri-business communities, and optimising under-utilised assets of the retailers.