BioVeda Agro Ventures, an agritech startup, has raised undisclosed capital in a seed funding round from India Accelerator’s angel investors’ network iAngels. 

As per the startup, the raised funds will be deployed for business expansion and scaling up its technology stack.

BioVeda Agro Ventures

Co-founded by Kaushik Dasgupta and Mahua Hazra in February 2022, BioVeda is an agritech startup focussed on financial inclusion for farmers through organised credit, agri-inputs & market linkages.

The startup offers a host of agri services for farmers to sell their produce, buy agri inputs and avail credit facilities at lower interest rates. 

Speaking about the development, Mahua Hazra, Co-founder and chief executive at BioVeda Agro Ventures, said, 

“We operate by the principle of aggregation and are confident that our data driven engagement will help in understanding the real needs of the farmer and would eventually lead to empowering multiple industries through AI and our predictive SCM.”

As per Kaushik Dasgupta, co-founder and COO, BioVeda is currently working with 25 distributors, over 300 Kisan Mitras (VLEs) and over 25,000 farmers, all digitally enabled. 

He added that the startup aims to cover over 10,000 villages and 1 million farmers by the end of the next financial year on the back of the right mix of technology and physical presence (Phygital Model) on the ground.

Commenting on the development, Deepak Nagpal, Managing partner and business head at iAgri, said, 

“With an increasing number of farmers looking to foster stable and continuous production, BioVeda’s integrated advanced agritech platform will actually add moolah in the farmer’s pocket.”

According to a new report by Avendus Capital, India’s agritech sector is likely to grow in scale and will have 8-10 startups with more than a billion dollars in value each over the next five years.

This year, several agritech startups have raised funds, including MoooFarm raising $13 million in Series A funding, Pepper Farms raising $1 million, Falca raising $3 million in pre-series A funding, Arya.ag pocketing $60 million in Series C funding, Gurugram-based Agrowave, Growcoms, Grow Indigo, Otipy, DeHaat, and Fyllo, among others.

Follow us and connect with us on Instagram, Facebook, Twitter, and LinkedIn.

Note: If you are a budding entrepreneur and require assistance to register a Pvt Ltd Company, register a company, create financial projections, business development, LLP Registration, compliance filing, funding formalities, CFO Services, or other startup related legal services, contact us.