FAARMS, a Bengaluru-headquartered ruraltech startup, has raised $10 million in a funding round led by global investors Dr Cornelius (Conny) Boersch and Singaporean angel investor Koh Boon Hwee.

The funding round also saw participation from Apoorva Ranjan Sharma (Co-founder of Venture Catalysts and 9 Unicorns), Ramit Mittal of Bharti Family, as well as other Indian and international investors.

As per the startup, the raised funds will be used to expand its geographical footprint in India, scale up its supply and distribution channels, for recruitment, and advance its technological infrastructure.

FAARMS | One-Stop for all Farmers

Founded by Taranbir Singh and Alok Duggal, FAARMS is a new-age digital platform that offers a one-stop solution to farmers and provides a complete spectrum of products and services, including seeds, fertilizers, pesticides, animal feed and more, with products delivered right at their doorstep.

Speaking about the new development, Taranbir Singh and Alok Duggal, Co-founders of FAARMS, said,

“The funds will mostly be used to expand our presence to 12 states across the country. We currently operate in over 50,000 villages in some of the most important agricultural states and plan to expand to 100,000 villages by the end of 2022. Our goal is to consistently provide innovative solutions to the farming community across rural supply chain. These funds will be used to catalyze our expansion to newer regions and deepening across existing markets.”

The Bengaluru-headquartered ruraltech startup recently partnered with Bharat BillPay to create a marketplace for farmers across India to manage recurring payments such as electricity bills, water, gas, loan repayments, and insurance premium payments.

It also aims to help farmers secure products such as seeds, cattle feeds, and farming equipment delivered directly to their doorstep utilizing the FAARMS-owned and operated logistics network.

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