India: Agritech startup Clover raises $5.5m from Omnivore, Accel

Greenhouse agritech startup Clover has raised over $5.5 million in a Series A funding round, from venture capital (VC) firm Omnivore and existing investors Accel and Mayfield.

Clover is an agritech platform that works with farmers across India and markets greenhouse-grown produce through business to business (B2B) and business to consumer (B2C) channels. The company will use the funds to grow its farm network and diversify their offerings, said its co-founder Avinash B R.

Accel and Mayfield had invested in Clover’s seed round in December, 2018, when the company was still in stealth mode.

The Bengaluru-based company was co-founded by Avinash, Gururaj Rao, Arvind Murali, and Santhosh Narasipura.

“We are thrilled to partner with Omnivore, Accel, and Mayfield as we scale our operations across multiple metro areas. This additional funding will help to accelerate the growth of our managed farm network, support our entry into new cities, and diversify our B2B and B2C fresh produce offerings,” Avinash said in a statement.

“We believe that Clover is building India’s first fresh produce supply chain adapted to the challenge of climate change. By leveraging peri-urban greenhouses, Clover can deliver the highest quality vegetables and fruits to B2B and B2C consumers in India’s largest metro areas,” said Mark Kahn, Managing Partner of Omnivore.

Prashanth Prakash, Partner at Accel, said, “Clover is transforming the perishables supply chain to better serve the new-age Indian consumer who values high quality produce. We look forward to the journey with a team that has a deep understanding of this space.”

This article was first published on livemint.com.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.