Aqgromalin raised Rs 2 crore seed funding
Aqgromalin, a farmers’ agri-tech company based in South India, said in a press release today that it raised Rs 2 crore in funding from the Middle East participating angel investors.
The company said that it supplements small farmers’ incomes by being prepared to introduce micro-farms especially in the areas of animal husbandry and aquaculture (fish farming).
The firm said it will use the capital to set up 500 micro-farms in Tamil Nadu, Telangana, and Andhra Pradesh states.
“Prasanna Manogaran and Bharani C L, co-founders of Aqgromalin, speaking about the funding, said in a joint statement, “We are delighted that investors have seen tremendous growth potential in our startup. Our company plans to use these funds to develop and promote the introduction of micro-farms that will enhance farmers’ lives. In addition, our plans to improve the technology-supported platform will move the company forward in the agri-tech sector.
Aqgromalin said it provides farmers with access to crop farming instruction, makes farmers aware of common diseases, and equips them with expertise in troubleshooting and yield enhancement.
The business has also designed an optional procurement program at a fair market price for producers. In addition, it reported that it is working closely with financial institutions to support farmers and to enhance their accessibility to the formal credit system in order to reduce their interest burden.