Animal Nutrition Firm EFeed Raises Funding From Omnivore
Agrigators Enterprises Pvt Ltd, which operates Pune-based animal nutrition and healthcare firm eFeed, has raised seed funding of $1 million (around Rs 8.2 crore) from venture capital firm Omnivore.
Omnivore’s investment in eFeed was made through its OmniX Bio, an initiative launched to back early-stage startups across agrifood life sciences.
As per the startup, the raised funds will be used by eFeed to strengthen its research and development operations, expand its farmer network, and ramp up hiring.
eFeed | Nutritional Supplements For Livestock
Founded by Kumar Ranjan, Ravi Chauhan and Ankit Patel in 2021, eFeed offers nutritional supplements for livestock and helps the farmers with nutrition advisory so that they can localize nutrition for their animal species and achieve better growth & quality of the animal hence giving them better harvest and income
Some of eFeed’s offerings include customized ration balancing, considering the location of the cattle and available raw materials for feeding, and connecting veterinary doctors to cattle farmers for easy access to medical services.
Speaking about the development, Kumar Ranjan, Co-founder and Chief Executive at eFeed, said,
“By empowering farmers with localized and customized feed advisory supplemented by our premixes, eFeed is improving cattle health, milk output, and farmer incomes while lowering reliance on expensive compound feed and medicines.”
The firm claims to disrupt the animal nutrition and health industry in India which is valued at about $14 billion. eFeed not only helps the farmer optimize input cost but also helps them to increase their overall productivity.
Set up in December 2021, OmniX Bio is a programme that backs early-stage agrifood life science startups working in agricultural biotechnology, novel farming systems, bioenergy and biomaterials, as well as innovative foods, including alternative protein.
In April 2022, Omnivore announced the launch of its third fund, with a target corpus of $ 130 million (Rs 1000 crore). Through this fund, Omnivore expects to make 25 to 30 new investments over the next four years and continue to fund entrepreneurs building the future of Indian agriculture and food systems.
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