BioVeda Agro Ventures an integrated online platform for farmers has recently secured an undisclosed amount of seed funding from India Accelerator’s Angel Investors’ network – iAngels.
Founded in February 2022, the Agri-tech platform brings a wide range of Agri- services for farmers to sell their Agri-produce, buy Agri-inputs and avail credit facilities at lower interest rates on a single Digital Platform. BioVeda plans to allocate the majority of funds to Business Expansion and Technology.
Mahua Hazra, Co-founder and CEO of BioVeda Agro Ventures said, “We operate by the principle of aggregation and we are confident that our data-driven farmer engagement will help in understanding the real needs of the Farmer and would eventually lead to empowering multiple industries through AI and our Predictive SCM. Most importantly, I am glad that we are able to generate Rural employment through incentive-based employment programs and are contributing towards Nation building.”
Commenting on the investment, Deepak Nagpal, Managing Partner and Business Head for iAgri (IA’s Agritech Vertical) said, “BioVeda is a fantastic example of inducing sustainable agriculture practices and super growth metrics in a very short span of time. With an increasing number of farmers looking to foster stable and continuous production, BioVeda’s integrated advanced Agri-tech platform will actually add moolah to the Farmer’s pocket. We have invested in the start-up with great zeal and we look forward to witnessing fast-paced growth and profitability.”
With mobile penetration at its peak, the data collection and automated verification that the company is doing at the root level for every farmer bring a huge set of opportunities, benefitting the FPOs ecosystem in the country as well.
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