Agri-tech Platform Falca raises over $ 3 Million in Pre-Series A round led by Inflection Point Ventures
One of India’s fastest-growing Agri-tech platforms, Falca has raised over $ 3 million in PreSeries A round led by Inflection Point Ventures, along with a combination of debt and equity funding. The round also saw participation from LetsVenture and Mumbai Angels among other HNIs. The funds raised will be utilized in scaling the services beyond the current geographies, acquiring talent for growth, and focusing on building tech infrastructure for the platform.
Falca is a Rural AgriTech supply chain platform offering one-stop farming solutions to small & marginal farmers by providing an array of services right from quality & authentic inputs to avail machinery on rent, market linkages, feasible storage solutions, Advisory & technologies for enhancing farm productivity, and more.
Falca is currently working with 1,00,000 lakh farmers and helping them at every stage from testing the soil to selecting the right fertilizer for the highest yield. Farmers can now sell their produce at a better price from their fields without extra overhead costs like logistics, middlemen, and packaging directly to consumers. Falca’s platform also offers analytical support for free such as weather conditions, supply-demand gaps, market prices, and suitable harvest times. Agricultural companies can also list their products/commodities through the platform.
Vinay Bansal, Founder & CEO, Inflection Point Ventures says, “Farming is unquestionably the largest livelihood provider in India. However, it is accompanied by multiple challenges which are undoubtedly taking much longer time to resolve considering a substantial region to cater to. Organizations and Govt bodies have been working toward helping the farmers to increase their income and bring down the cost of farming. This has emerged as a large market opportunity for agri-tech startups.
FALCA with its extensive research has curated a plethora of services for farmers right from the grass root level to the final dispersion of products to the end users. It aims to educate the farmers through its platform and make them well versed with the usage of technology for cultivation and the benefits the FALCA has to offer to make a better living and profitable farming business. Along with its virtual support, the company now has its offline presence ‘Falca Rural Service Points’ with 30 centers. IPV aims to further strengthen the support for the farming community with FALCA”.
Due to technological advancements, farmers can now rent the latest equipment or tractor as per their requirements which further brings down the cost to sow and harvest the crops. Through the use of the latest mechanisation, farmers can undertake agricultural activities in a hassle-free manner and increase their productivity.
Santosh Danegoudar, Founder and CEO, FALCA says, “We directly work with farmers and offer them end-to-end farming solutions through a tech-based Phygital platform. Our rural presence and technology platform connects smallholder farmers with the end markets for quality inputs, marketing produce, renting machinery, and farm advisory and storage services. We are working with 1,00,000 + farmers currently along with 60+ Input manufacturers & 65+ corporate buyers enabling transactions worth INR 1400 Mn.”
Development in Agritech is beneficial for the industry and accelerates the Indian economy by exporting quality goods/commodities. The agricultural market today stands at USD 375 Billion and Agritech is expected to reach USD 24 Billion by 2025 with only 1% being addressed today giving FALCA a huge growth room to execute their scale-up plans.