Agri-tech startup FarMart raises Rs.84-Cr from GC India Investment, Z47, others

Mumbai-based agri-tech startup FarMart has raised INR 84 crore (USD 10 million) in a mix of equity and debt round. The company issued 977 Series C CCPS (compulsorily convertible preference shares) at INR 4,52,182 per share and the rest INR 40 crore issued through non-convertible debentures (NCD).The round saw participation from GC India Investment Holdings (INR 40 crore), Z47(INR 1 crore), Stride ventures and Trifecta Ventures.Founded in 2015, FarMart is a software-as-a-service (SaaS)-B2B (business-to-business) food commerce platform which helps food businesses to source produce. It currently operates in Asia, the Middle East, and Africa with a network of 2,50,000 farm aggregators, 3.8 million farmers and 400 food businesses.