FarMart, a SaaS based food supply platform has raised Rs. 24 crore ($2.8 million) as part of a new round from Swiss asset manager ResponsAbility Investments. The Gurugram based company has received the fresh investment after a gap of more than two years.
The company will be using the fresh proceedings towards building a carbon efficient food supply chain, the company said in a press release. The startup will also leverage responsAbility’s expertise to optimise its solutions.
Post the latest financial injection, FarMart has successfully raised nearly $50 million till date including a $32 million investment secured in Series B round in March 2022 from General Catalyst, Matrix Partners India and Omidyar Network India. As per startup data intelligence platform TheKredible, the company was valued at around $128 million during the last equity round.
Interestingly, it has been claimed by FarMart chief that the firm holds $37 million in the banks as of August last year. It is not clear why FarMart raised a modest amount despite the above claim.
