About Merak Ventures
Merak Ventures, a distinguished and sector-agnostic early-stage venture capital (VC) firm, has made a noteworthy investment of $1.45 million in Farmtheory, a pioneering B2B agri-food start-up. This strategic collaboration reflects a significant commitment towards reshaping the agri-food landscape by tackling critical challenges such as food waste, farm yields, and the optimization of the supply chain.
Venture Expansion and Technological Advancements:
The capital infusion from Merak Ventures is poised to play a pivotal role in catapulting Farmtheory’s operations to new heights. The agri-food start-up intends to utilize the investment to scale up its supply arm, fortify its technological infrastructure, and strengthen its supply chain by establishing robust connections with additional farmers. This multifaceted approach aims to ensure a sustainable and efficient source of produce, contributing positively to the broader agricultural ecosystem.
Operational Milestones and Impact:
Founded in 2019 by Arpit Agarwal and Sakshi Agarwal, Farmtheory has achieved notable milestones. With a network of 3,000 partner farmers and over 1,500 commercial kitchens served, the company underscores its commitment to minimizing food waste, optimizing farm yields, and providing high-quality ingredients to the dynamic commercial kitchen landscape.
Visionary Leadership and Collaborative Values:
Arpit Agarwal, Co-founder of Farmtheory, emphasizes the profound impact of the partnership with Merak Ventures. “Through our platform, we empower farmers to share their harvests with the world, creating meaningful connections that sustain communities and promote environmental responsibility,” states Agarwal. This alignment of values and vision signifies a shared commitment to fostering sustainable practices in the agri-food sector.
Recognizing Innovation:
Sheetal Bahl, Partner at Merak Ventures, commends Farmtheory’s innovative strides, particularly the introduction of the term ‘freeform produce.’ This challenges conventional norms related to cosmetic standards in agriculture, with Farmtheory acquiring crops that deviate from traditional size and shape expectations but remain perfectly edible. This innovation not only tackles food waste but represents a transformative shift in how produce is perceived and utilized.
Strategic Narratives and Sustainable Investment:
Farmtheory’s leadership in India’s ‘freeform produce’ movement aligns with global initiatives, such as the ‘ugly produce movement,’ proven successful in developed markets. Bahl emphasizes Merak Ventures’ commitment to investments that promise not only financial returns but also contribute significantly to a sustainable future. The strategic narrative of reframing the discourse from ‘ugly produce’ to ‘freeform produce’ underscores the transformative potential that Farmtheory brings to the agri-food landscape.
About Farmtheory:
Farmtheory, headquartered in Bengaluru, is an agritech start-up founded by Arpit Agarwal and Sakshi Agarwal in 2019. Backed by Y-Combinator, the company operates at the intersection of minimizing food waste, boosting farm yields, and delivering quality ingredients to commercial kitchens. Farmtheory’s unique approach involves acquiring ‘freeform produce’ directly from farmers, challenging traditional cosmetic standards. With plans to significantly scale its operations, Farmtheory remains steadfast in its commitment to minimizing food waste, enhancing farmers’ earnings, and contributing to the fight against climate change.
This strategic partnership between Merak Ventures and Farmtheory marks a milestone in the agri-food sector, reflecting the convergence of innovative solutions, visionary leadership, and sustainable investment practices.
