Food supply platform FarMart raises $10-M; IAN, LetsVenture exits

Gurugram-based FarMart, a B2B SaaS-led food supply platform, has raised USD 10 million led by Matrix Partners India, with participation from Innoven Capital and existing investors Omidyar Network India, Avaana Capital, and 500 Startups. Angel investors participating in the round include Amit Lakhotia (Founder, Park+), Jitendra Gupta (Founder and CEO, Jupiter), KP Balaraj (Founder of WestBridge Capital and Sequoia Capital India), OfBusiness Founder's Fund, Revant Bhate and Dhyanesh Shah (Co-founders, Mosiac Wellness). FarMart will use the funds to expand its distribution network across the country, scale product capabilities as well as grow the team. The round also provides an exit for its early investors Indian Angel Network and LetsVenture.