Summary:

  • B2B food supply platform FarMart has successfully raised INR 24 crore.

  • The round is led by Swiss asset management firm ResponsAbility Investments

  • The fresh infusion of capital will enable FarMart to focus on enhancing the sustainability of its food supply chain


B2B food supply platform FarMart has successfully raised INR 24 crore (approximately USD 2.8 million) in a new funding round from Swiss asset management firm ResponsAbility Investments. As of today, FarMart’s total fundraising is approximately USD 50 million, following a USD 32 million Series B round in March 2022. The Series B round was led by General Catalyst, Matrix Partners India, and Omidyar Network India.

The fresh infusion of capital will enable FarMart to focus on enhancing the sustainability of its food supply chain. The company plans to leverage the substantial expertise of responsibility, particularly in optimizing sustainable operations, to make its supply chain more carbon-efficient.

Alekh Sanghera, CEO of FarMart, expressed his enthusiasm for the new partnership, stating, “Sustainability is at the core of our business, and ResponsAbility champions our goal with its strong orientation and expertise in sustainability. According to the founders, this investment will enable them to speed up their efforts towards a carbon-efficient food supply chain and ultimately achieve their vision of a food-secure world.”

Founded in 2015 by Alekh Sanghera and Mehtab Hans, FarMart is on a mission to transform the food commerce sector through its SaaS-B2B platform. The company serves markets across Asia, the Middle East, and Africa. FarMart’s platform engages with approximately 2,000 food manufacturers and brands, three million farmers, and 400 factories across six countries. Its extensive catalogue includes about 90 different food commodities.

Recently, FarMart has expanded its operational capacity by acquiring Subjimandi.app, a logistics platform specializing in fruits and vegetables. This acquisition enhances FarMart’s capabilities and reach in the perishable goods segment, allowing the company to better manage the logistics of these sensitive products.

FarMart’s B2B product digitizes agricultural supplies and produce, connecting nearby buyers and sellers. This approach reduces various costs associated with the nationwide transportation of goods. Currently, the company has a strong retailer presence in central and northern Indian states, with a more limited reach in the southern regions and Jammu & Kashmir

FarMart’s commitment to sustainability and innovation is evident in its approach to modernizing the food supply chain. By integrating advanced technology and sustainable practices, FarMart aims to reduce the environmental impact of food production and distribution. This strategic direction not only supports environmental goals but also addresses critical issues of food security and efficiency in supply chains.

The funding from ResponsAbility will help FarMart implement more sustainable practices, reducing carbon emissions and minimizing food waste. By creating a more efficient supply chain, the company aims to tackle some of the biggest challenges in the global food system, such as food loss and waste, which are significant contributors to greenhouse gas emissions.

FarMart’s efforts align with global sustainability goals, highlighting the importance of reducing the carbon footprint of food production and distribution. The partnership with ResponsAbility brings not only financial support but also a wealth of expertise in sustainable investment and operations. This collaboration is poised to accelerate FarMart’s mission to create a more sustainable and efficient food supply chain.

In conclusion, FarMart’s latest funding round from ResponsAbility Investments marks a significant step forward in its mission to modernize and sustain the food supply chain. With a clear focus on sustainability and technological innovation, FarMart is well-positioned to lead the way in reducing the environmental impact of food commerce while ensuring food