Agri-procurement marketplace Faarms raises funding from Auxano as part of $10-M round

VC investor Auxano has invested in Bengaluru-based Faarms, a digital platform delivering seeds, biofertilizers, agrochemicals, animal feed, agri-equipment & implements, and financial products to farmers. The company has raised USD 12 million to date including the USD 10 million raised in the current round. Felix Advisory acted as the financial advisor to the transaction. Founded by Taranbir Singh and Alok Duggal in January 2020, the company plans to use the funds to expand to new geographies and build a robust technology stack. Faarms has recently integrated fintech services within its ecosystem, allowing access to banking, insurance and credit.