Bengaluru-based agritech startup, Aibono, a platforms which connects farmers to customers, has raised $2 million in a pre- Series A funding round. The round was led by Japanese venture capital firms Rebright Partners and Mitsui Sumitomo Insurance Venture Capital. Swiss impact investor Lesing Artha, a subsidiary of Rianta Capital (UK), also participated in the round.
The startup plans to use the fresh funds to expand its network with 2,000 additional farmers. It will also double the number of retailers who will buy the produce directly from Aibono.
Aibono uses technology and data science to improve the agricultural efficiency of farmers and aggregate demand by working with small retailers.
The company boasts of using data science-driven demand-supply synchronization to help prevent food wastage and enhance efficiency of farmers who specialize in perishable vegetables.
“The prevailing Covid-19 pandemic and its adverse impact on food production, consumption and wastage validate the urgent need for data science and advanced technology intervention to course-correct,” said Audrey Selian, Director of Lesing Artha.
Founder and CEO Vivek Rajkumar commenting on the round said, “With this round of funding, we will now invest to scale capacity and increase supply to our existing Kirana businesses, expanding to institutional retail, as well as making possible direct-to-home supply of super perishables via modern delivery platforms like Swiggy, Dunzo, and Amazon in the next phase of our growth. We are encouraged and excited that Investor attention is on full-stack solutions starting from seed up to the point of consumption of fresh perishables as high potential