Two Brothers Organic Farms Secures $7M Series A Funding
Two Brothers Organic Farms raised $7M in Series A funding led by Rainmatter Capital, aiming to expand operations in India and the US, and promote organic farming
Priya
Agritech startup Two Brothers Organic Farms has secured INR 58.25 crore (approximately $7 million) in a Series A funding round led by Rainmatter Capital, the investment arm of Zerodha.
The round also saw participation from existing investor Raju Chekuri, founder of data security firm NetEnrich.
The fresh capital will be used to support business growth in India and the US, explore demand-side opportunities, and expand supply-side operations, cofounder Ajinkya Hange told Inc42.
Business Standard first reported the development.
“We are pleased to have like-minded individuals and organizations participate in this fundraising effort, especially our lead investors Nithin Kamath of Zerodha and Raju Chekuri, who understand and support our vision for the organic food business in India and abroad,” Hange said in a statement.
“This substantial funding will enable us to better serve our consumers in India and assist Indian farmers in adopting organic farming practices,” he added.
Founded in 2016, Two Brothers Organic Farms generates revenue by selling farm produce such as cow cultured ghee, groundnut oil, khapli wheat flour, sugarcane jaggery, and more. The company has launched various initiatives to raise awareness about organic farming among farmers and has trained over 16,000 farmers in sustainable farming practices over the past few years.
The company competes with FarMart, AgroStar, and others in the agritech industry.
This fundraising comes at a time when India’s agritech sector is attracting significant investor interest.
According to an EY report, India's agritech startups are eyeing a total market opportunity worth $24 billion by 2025.
In May, another agritech startup, FarMart, raised INR 24 crore ($2.8 million) in a financing round from Swiss asset manager ResponsAbility Investments.
In April last year, actor Akshay Kumar and former cricketer Virender Sehwag, along with other investors, invested INR 14.5 crore in Two Brothers Organic Farms in a Pre-Series A round to expand the business domestically and globally, enhance manufacturing capacity, and conduct training facilities for associated farmers.
