NEW DELHI: Agritech startup Krishify on Tuesday said it has raised USD 3.5 million from investors to grow its business across the country. In August last year, the company had raised USD 2.7 million in a pre-Series A funding round led by Omidyar Network India, Ankur Capital and Orios Ventures.
The company said in a statement that "it has closed USD 6.2 million in Pre-Series A funding with the additional participation of agritech VC fund Omnivore alongside existing investors Ankur Capital, Omidyar Network India, and Orios Venture Partners."
Gurugram-based Krishify, founded in 2019 by IIT alumni Rajesh Ranjan, Manish Agrawal, and Avinash Kumar, had already raised USD 2.7 million in August 2021, and has now closed the Pre-Series A round with an additional USD 3.5 million in funding, it added.
"Krishify plans to use this round for accelerating pan-India growth and to further refine the technology for an enhanced user experience in the agriverse. Krishify is also accelerating monetization on the network via advertising, lead generation, and marketing services for companies targeting rural consumers," the statement said.
With over 6.5 million downloads and 1.3 million monthly active users, Krishify is a social network for farmers and rural communities. On its platform, farmers, rural families, retailers, traders, and agribusiness companies can seamlessly discover, interact, and transact among themselves.
Leveraging machine learning, AI, and NLP, Krishify's app delivers highly personalized experiences to agriverse participants.