Ayekart, a global agrifood fintech platform, has raised USD 6.5 million (INR 53 crore) in Series A funding led by Omnivore, Siana Capital, and Unleash Capital Partners. With this funding infusion, Ayekart intends to extend its operations statewide and reach a bigger audience of FPOs (Farmer Producer Organizations), food manufacturers, wholesalers, and retailers.
Ayekart provides financial and supply chain solutions to traditional agrifood enterprises, increasing efficiency and ease while maintaining ecosystem trust. Ayekart now operates in 18 states, has over 9,000 active merchants on its platform, and has successfully facilitated over 2.5 lakh transactions for over INR 21 billion (Gross Traded Value). Furthermore, Ayekart has been continually profitable since its beginning, distinguishing it from other agritech companies.
Debarshi Dutta, Ashutosh Singh, and Milind Borgikar are the driving forces behind Ayekart. Debarshi Dutta formerly held leadership positions in banking, finance, and supply chain management with MasterCard, BPC Banking Technologies, and FINO Payments Bank. Ashutosh Singh has over a decade of expertise managing educational operations for major corporations such as Pearson and provides valuable insights into the Bharat ecosystem. Finally, Milind Borgikar, a software engineer, started his career at Tata Consultancy Services and later moved on to IBM and Vodafone before starting his own company, The Houuse, an IT consulting firm.
Debarshi Dutta, Co-Founder & CEO of Ayekart, stated, “Since the inception, our unwavering commitment to positively impact the lives of smallholder farmers, Farmer Producer Organizations (FPOs), and agrifood MSMEs across India has been the cornerstone of our journey. We understand the critical pain points that agrifood MSMEs face – the need for market linkages, access to finance, and an efficient technology ecosystem to enhance their businesses. To address these challenges, we have developed innovative fintech solutions tailored to empower FPOs and agrifood MSMEs. Ayekart is not just addressing gaps in the value chain but also driving meaningful change that empowers agrifood MSMEs and fosters sustainable growth across the value chain.”
Commenting on the round, Jinesh Shah, Managing Partner at Omnivore, said, “We are pleased to support Ayekart’s efforts in improving farmers’ lives and providing financial stability. Ayekart’s focus on empowering agrifood MSMEs with its cutting-edge technological approach resonates deeply with our investment philosophy. We are confident that this capital infusion will propel Ayekart’s advancement, stimulating noteworthy progress in both the agricultural and supply chain spheres.”
Sohil Shah, Founder & Partner at UNLEASH Capital Partners, stated, “We are proud to be part of Ayekart’s Series A funding, helping to leverage technology for enhanced financial solutions in the B2B supply chain. This investment is an important long-term step in helping Ayekart fulfill its mission to strengthen its market position and continue delivering value to its stakeholders and customers.”
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