The farmer holds a money bag on the background of plantations. Lending and subsidizing farmers. Grants and support. Profit from agribusiness. Land value and rent. Taxes taxation. Agricultural startups | Photo Credit: Andrii Yalanskyi
Organic farming start-up Humpy Farms has raised ₹5 crore in an angel round that also include funds secured in the first season of Shark Tank India. The D2C organic farming start-up had secured funds from Lenskart’s Piyush Bansal and MamaEarth’s Ghazal Alagh. Other marquee investors who participated in the angel round include Shailesh Ligade of DBS Bank, Abhay Amrute of IIFL, Prattyush Shahane of Bain & Company, Yogesh Lahoti and Anushka Iyer of Wiggles.in.
Humpy Farms said that a major part of the funds raised are allocated for investment towards technology and enhancing the brands D2C strategy. A part of the funds will also be used to accelerate customer acquisition and identify and on-board new talent. Keeping in line with its expansion plans, the start-up is also exploring new potential markets for the launch of its perishable range of products, including its signature Humpy A2 Milk, it added.
Malvika Gaekwad, Co-founder of Humpy Farms, said, the fund raise is a beginning of a journey to scale Humpy Farms to become a household name for all food needs. It will help us invest in technology and usher in an era of climate smart regenerative farming that is beneficial to all stakeholder and most importantly our planet. We are humbled that we were given an opportunity on Shark Tank India and are grateful that our investors believe in our philosophy. With technology as the backbone, we will continue to work closely with farmers across India and bring to dinner tables produce that is high-quality, unadulterated, chemical-free and environment-friendly.”
Ghazal Alagh, Founder, MamaEarth, added, “Authentic, chemical-free and organic products are a need of the hour in every household today, and the Indian start-up ecosystem deserves brands like Humpy Farms that are enablers of food that is safe and trustworthy.”
Humpy Farms currently sells a range of dairy and non-dairy products. Its flagship Humpy A2 Milk is currently available in Pune and will soon become available for consumers across India. At the same, time its range of organic products is currently available across India and can be purchased online through its app, website and select e-commerce platforms.
“Humpy Farms has potential that needs to be unlocked with the use of technology and marketing. Their proposition is extremely relevant in today’s day and age and I am extremely excited to team up with a brand that tasted success in a short span,“ added Piyush Bansal, CEO and Co-Founder, Lenskart.
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