Agritech Startup Fambo Secures Rs 21.55 Crore Funding for Expansion

Fambo, an agritech startup established in 2022, has successfully raised Rs 21.55 crore in its latest funding round, with AgriSURE Fund and EV2 Ventures as the lead investors. This capital infusion is earmarked for several strategic initiatives designed to fuel the company's growth. These include expanding its operational reach to new geographical areas, diversifying its range of products, strengthening its workforce by hiring new talent, and improving its technological infrastructure.

Fambo's core business involves supplying fresh produce and semi-processed food items to the HoReCa sector, which comprises Hotels, Restaurants, and Cafes, as well as to cloud kitchens. The company aims to address the food accessibility challenge with its innovative supply chain solutions.

Akshay Kumar Tripathi, Co-Founder & CEO of Fambo, stated that the new funding will enable them to scale operations nationwide and build a capable team.

In the fiscal year 2024-25, Fambo recorded revenues of Rs 20.3 crore.

Impact This funding is significant for Fambo's growth trajectory and signals continued investor confidence in the Indian agritech sector. It could lead to increased efficiency and broader access to fresh produce, potentially impacting food supply chains. Rating: 6/10

Difficult Terms Agritech: Technology applied to agriculture to improve farming and food production. HoReCa: An acronym for Hotels, Restaurants, and Cafes. Cloud kitchens: A food preparation and cooking facility set up for delivery-only orders. Food accessibility challenge: The difficulty people face in obtaining sufficient quantities of nutritious food. Geographical expansion: The process of increasing a company's presence in new locations or markets. Product line diversification: Expanding the range of products or services a company offers. Technology stack: The combination of programming languages, software, tools, and platforms used by a company to develop and manage its applications. Fiscal year: A period of 12 months for which accounts are prepared, often different from the calendar year.