Angel Investments
Agritech startup Agrowave raises $2-M from Oyo founder Ritesh Agarwal's family office
Gurugram-based agritech startup Agrowave has raised USD 2 million from Aroa Ventures, the family office of Oyo founder Ritesh Agarwal. The company is planning to use the funds to expand the team and scale operations to achieve a monthly gross merchandise value or GMV of over INR 100 crore. Agrowave is striving to build 40,000 mobile touch points at farm gates to procure directly from farmers. After pivoting to the farm-to-mandi market place model, the company said it has achieved gross merchandise value (GMV) of approximately 15 crores, and 8000 tons in volume by operating in over 150 villages in December 2021. The company plans to strengthen its existing presence in Delhi-NCR, Haryana, Punjab, Uttar Pradesh, Madhya Pradesh, and Rajasthan.
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