Ayekart, an agri-fintech startup founded in 2020 by Debarshi Dutta, Ashutosh Singh, and Milind Borgikar, has successfully raised $6.5 million in a Series A funding round. The funding was led by Omnivore, Siana Capital, and Unleash Capital. Ayekart specializes in providing fintech and supply chain solutions tailored for businesses within the agrifood value chain.
About Ayekart:
Founded with a mission to address the challenges faced by agrifood MSMEs, Ayekart focuses on market linkages, access to finance, and building an efficient technology ecosystem. The startup’s innovative fintech solutions are designed to empower Farmer Producer Organizations (FPOs) and agrifood MSMEs.
The freshly secured funds, amounting to $6.5 million, will be instrumental in expanding Ayekart’s operations nationwide. The startup aims to cater to a broader customer base, including FPOs, food manufacturers, distributors, and retailers.
Ayekart boasts a substantial operational footprint, operating across 18 states. The platform has successfully onboarded over 9,000 active merchants, facilitating more than 2.5 lakh transactions with a lifetime Gross Traded Value (GTV) exceeding INR 2.1 crore.
Remarkably, Ayekart claims to have maintained profitability since its inception, emphasizing its sustainable business model. In 2022, the startup secured $5.5 million in debt and equity funding to provide financial and technological support to traditional businesses in the food and agri sector. Ayekart had articulated plans to expand its services to 15 countries within the next five years.
Conclusion:
Ayekart’s successful Series A funding reflects investor confidence in the agri-fintech space. With a focus on addressing the unique challenges faced by agrifood MSMEs, Ayekart’s growth trajectory aligns with its commitment to fostering market linkages and enhancing access to finance and technology. The funds raised are poised to accelerate Ayekart’s nationwide expansion, contributing to the transformation of the agrifood value chain. As agri-focused startups continue to garner attention, Ayekart’s funding underscores the significance of innovative solutions in the agriculture and fintech domains.
