Through AgriManch accelerator, FAAD Capital invests in four agritech startups
As part of their AgriManch accelerator program, early-stage venture capital firm FAAD Capital has made four strategic investments totaling $121,000 in agritech startups.
Godaam Innovations, VedaFit Foods, Aqin Biotech, and Mkelly Biotech are among the startups that have received funding in the pre-seed round. One of them, Godaam Innovations, had previously raised $180,000 from outside sources.
Apart from providing pre-seed funding, FAAD will provide post-funding support to the startups. This support will involve putting them in touch with the appropriate stakeholders to generate revenue and assisting them in creating networks within the agriculture sector to facilitate an efficient go-to-market strategy.
While Aqin Biotech specializes in formulating feed for livestock and aquaculture that increases animal survival rates by 20–25% and lowers mortality rates by 60–70%, Godaam Innovations focuses on providing smart storage solutions to minimize post-harvest losses and improve supply chain efficiency.
To improve the nutritional profile of flour and related products for people of all ages, Mkelly Biotech has created a premix powder made of millets and mushrooms. VedaFit Foods, a Delhi-based company, creates products that are genuinely healthy and natural by purposefully adding components that are fortified with vital nutrients. This eliminates the problems associated with artificial foods.
According to FAAD Capital, a venture based in Gurugram, it has worked with a number of industry players to finance agritech startups. It makes investments in a variety of industries and pays out checks from Pre-Seed to Series A that range from $100k to $500k. With over 100 startups under management, the firm boasts over ten successful exits.
