FarMart, a SaaS-based food supply chain platform, has successfully raised ₹84 crore (approximately $10 million) through a combination of equity and debt financing. The capital infusion will fuel the company’s growth, market expansion, and ongoing corporate initiatives.
Funding Breakdown and Investors
As per regulatory filings with the Registrar of Companies (RoC), FarMart allotted 977 Series C CCPS shares at a premium of ₹4,52,182 per share. The round was led by GC India Investment Holdings, which contributed ₹43 crore. Matrix Partners India (Z47) also participated with an investment of ₹1 crore.
Additionally, Stride Ventures and Trifecta Ventures infused ₹40 crore in the form of non-convertible debentures, bolstering FarMart’s financial capacity without equity dilution.
Following this round, FarMart’s estimated valuation stands at approximately ₹1,800 crore (~$210 million).
Strengthening Agricultural Supply Chains
Founded with a mission to streamline the agri supply ecosystem, FarMart digitizes the supply chain for agricultural inputs and produce, enabling hyperlocal sourcing and distribution. Its B2B platform connects farmers, retailers, and buyers, significantly lowering logistics costs by eliminating long-distance transportation inefficiencies.
With a robust presence across central and northern India, FarMart continues to enhance its reach. However, expansion opportunities remain in southern regions and Jammu & Kashmir, where its presence is currently limited.
Financial Growth and Industry Position
In FY24, FarMart recorded an operating revenue of ₹1,341 crore, reflecting a 30% year-over-year growth. However, the company also reported a net loss of ₹68 crore, attributed to increased investments in technology and market expansion.
To date, FarMart has raised over $60 million, including its previous $32 million Series B round led by General Catalyst, with participation from existing backers such as Z47 and Omidyar Network India.