Agritech startup Fambo has raised ₹21 crore (about $2.4 million) in a seed funding round led by EV2 Ventures. The round also saw participation from Rajesh Sawhney, founder and CEO of GSF Accelerator. There were several other ultra-high-net-worth individuals. Fresh capital will help scale up Fambo’s operations across India, set up an export vertical, invest in technology, and expand its network of partner farms.
About Fambo
Fambo was founded in 2022 by Akshay Tripathi and Sudarshan Satle. The vision waa that it would be a platform that connects farmers directly with quick service restaurant (QSR) chains, hotels, and cloud kitchens. This startup aims to reduce waste while maintaining the freshness of produce sold directly from the farmer to the establishments.
Fambo’s AI-based platform helps restaurants manage their provisions, buy ingredients, and have a reliable supply chain with traceability. The Noida-based startup currently serves over 500 QSR chains and cloud kitchens, including Burger King, McDonald’s, California Burrito, Burger Singh, Farzi Café, and Barbeque Nation.
Achievements and Impact
Fambo has been able to reduce food waste significantly, with claims of achieving less than 1% waste by effectively matching demand with supply. This tech-enabled approach not only helps increase the yield for partner farms but also increases their income. Sudarshan Satle, co-founder and COO of Fambo, spoke about the significance of their model in enhancing agricultural practices and supporting farmers.
Growing Interest in Agritech
Funding to Fambo is coming at a time when agritech startups are increasingly attracting investments to bolster their technological capabilities. For example, AGRIM had raised $17.3 million (approximately ₹145 crore) in its Series B funding round to boost its tech stack and scale operations four months ago. In the same vein, Bengaluru-based B2B agritech company Agrizy raised $9.8 million (approximately ₹82 crore) in a Series A funding round in August 2024 to expand its product offerings and geographical reach.
Two Brothers Organic Farms also raised ₹58.25 crore (around $7 million) in a Series A funding round in June last year to support its growth in India and the US, while exploring new demand-side opportunities and expanding supply-side operations.
In conclusion, with the recent funding, Fambo is well-placed to scale up its operations and make a significant impact in the agritech sector. In this way, Fambo not only reduces waste but also economically uplifts its partner farms by connecting them with major food service providers through technology.
