India Dealbook: Agri-tech startup FarmLink, hospitality firm FreshUp raise funds

Photo: Reuters

While agritech startup FarmLink has raised $3 million, Chennai-based hospitality firm FreshUp has raised $1.5 million in seed funding.

FarmLink raises $3m led by Pioneering Ventures, Syngenta

Agritech startup FarmLink has raised Rs 20 crore ($3 million) in a funding round led by Pioneering Ventures and Swiss-based agrochemical firm Syngenta, said a report in The Economic Times.

This investment marks the first institutional round of funding by the Mumbai-based firm that controls end-to-end supply chain of fruits & vegetables.

Incubated by Pioneering Ventures in 2014, FarmLink, plans to use this latest funding  to expand its geographical reach in South India and the North as also strengthen its technology and analytics capabilities in the supply chain, said the news report.

At present, FarmLink has four distribution cum collection centres across Maharashtra, Telengana and Karnataka and procures supplies from over 700 farmers.

Hospitality firm FreshUp raises $1.5m seed funding

Chennai-based hospitality firm FreshUp has raised $1.5 million in seed funding from Singapore-based investor Lotus Global Investments Ltd, as per a report in The Economic Times.

“We are using the investment to expand into other geographies including Guruvayur, Bengaluru, Chennai, Sabarimala. The ecosystem does not offer much for travellers just seeking to freshen up for a couple of hours and our offering at room rates starting from Rs 249, according to the number of hours used has helped us rake in investments,” said Vinil Reddy, CEO, FreshUp.

FreshUp offers pay per use accommodation in pilgrimage cities and near airports for travellers looking for short-term stays. It currently has properties at Hyderabas and Tirupathi, and plans to expand its presence in South India.

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