Agritech start-up raises $6 m
The Hindu
‘Our Food’ plans to ramp up operations
Our Food, an agritech start-up into innovative, low-cost and decentralised mini food processing units, has raised $6 million.
The funding round was led by existing investor 3Lines Venture Capital and a new investor, C4D Asia Fund. 3Lines India chairman and ex-CEO of Reliance Infrastructure Lalit Jalan will be joining its board, Our Food said on Tuesday.
The company said it plans to ramp up operations, increase manufacturing capacity and improve the agricultural food supply chain that sees an estimated $5 billion annual post-harvest wastage in the country. “This capital infusion will help boost our capacity to over 6,000 operational franchises, gives us the right ammunition to significantly disrupt the food processing industry and position us for an IPO in 2024,” founder and CEO Bala Reddy said.