B2B food supply startup FarMart raised $32 million in funding led by US venture fund, General Catalyst where existing backers Matrix Partners India and Omidyar Network India also participated.
FarMart's model is centred on agri-input retailers and addresses some of the retailer community's challenges. According to FarMart, the new capital will help the company expand its digital distribution network across India and into export markets. It also intends to invest in R&D, automation, and technology. Farmart claims to have 60,000 retailers who serve two million farmers via its mobile app. The company has also expanded its output linkage offering, which is distributed through its app users, to over 600 districts in India, with 75,000 metric tonnes of produce sourced across more than 15 commodities to date.