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The firm has raised a total of $48 million from investors like General Catalyst, Matrix Partners India and Omidyar Network India, among others, according to data from Tracxn.
FarMart offers software-as-a-service (SaaS) that helps food businesses source produce. The company claims to work with over 2,000 food manufacturers and brands, 3 million farmers, and 400 factories in 6 countries. It currently has a catalogue of over 90 food commodities, it added.
“We are proud to drive reduction in food loss and waste in India through our partnership with FarMart, whose technological solutions are crucial for efficient supply chain and logistics. Food systems account for a third of global GHG emissions, with major losses occurring at upstream and midstream levels,” said Neha Baid, head of sustainable food debt for APAC, ResponsAbility Investments.
The firm had last raised $32 million (Rs 244 crore) in a funding round in March 2022, led by General Catalyst, with participation from Matrix Partners India and Omidyar Network India.
“Sustainability is at the core of our business, and ResponsAbility champions our goal with its strong orientation and expertise in sustainability. Their investment empowers us to accelerate our efforts towards a carbon-efficient food supply chain, and ultimately achieve our vision of a food-secure world,” said Alekh Sanghera, chief executive and cofounder of FarMart.