Agritech Startup TBOF Raises Funding From Akshay Kumar, Virender Sehwag, Others
Two Brothers Organic Farms (TBOF), a leading producer of natural and organic farming products, has announced the successful completion of its pre-Series A funding round of Rs 14.5 crore.
Bollywood Actor Akshay Kumar and Indian cricket legend Virender Sehwag invested in the startup. The funding round also saw participation from Crest Ventures (an ardent supporter and existing investor), Tejesh Chitlangi (a leading corporate lawyer and Senior Partner at IC Universal Legal), Durga Devi Wagh (an existing stakeholder and client), Javed Tapia (a serial social entrepreneur), and Raju Chekuri (a global business leader, entrepreneur and humanitarian).
As per the startup, the freshly raised funds will be used to expand TBOF’s manufacturing capacity, construct farmer training centers and expand its domestic and international business. Additionally, the raised funds will help empower farmers, create more employment opportunities for women in villages and enhance rural livelihoods.
Two Brothers Organic Farms
Founded by brothers Satyajit Hange and Ajinkya Hange, Two Brothers Organic Farms (TBOF) is an agritech startup that offers natural and organic farming products. The startup breeds indigenous cows and grows fruits, vegetables, processed foods and dairy products organically.
The founders have launched several initiatives to create awareness among farmers on the importance of organic farming. In the past few years, the founders have trained more than 16,000 farmers in sustainable farming.
Commenting on the investment, Akshay Kumar said,
“I am thrilled to be a part of TBOF’s journey towards a better and healthier future for all. I believe in TBOF’s vision and commitment to empowering rural communities through organic farming.”
Last month, Sorted, a Gurugram-based online fruits and vegetables delivery startup, raised over $5 million (around Rs 41.31 crore) as part of its seed funding round to scale up the technology stack and hire and set up regional and national supply chains for the fruits and vegetables. Another Gurugram-based agritech startup, Barton Breeze, raised $800,000 (around Rs 6.6 crore) in a pre-Series A funding round from a clutch of several angel investors.
As per a recent 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.
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