Gurugram, July 26th, 2024: FAAD Capital, a SEBI-registered Category 1 Angel Fund headquartered in Gurgaon, proudly announces a strategic investment in four innovative Agritech startups as part of their AgriManch Accelerator. The startups receiving the investment in the pre-seed round include Godaam Innovations, VedaFit Foods, Aqin Biotech, and Mkelly Biotech. This financial boost aims to empower these startups in their mission to revolutionize the agriculture industry.

FAAD wants to capture the growing interest in the AgriTech startups, and thus has launched AgriManch Accelerator. The angel fund has collaborated with various stakeholders in the industry to fund Agritech startups under this initiative, FAAD has infused over $121k in four startups. Beyond the pre-seed funding, FAAD Capital will offer post-funding support, including connecting the startups with the right stakeholders to generate revenue and help build networks within the agriculture sector for an effective go-to-market strategy.

Aditya Arora, CEO at FAAD Capital, expressed his enthusiasm for these latest investments: “We are excited to support these promising Agritech startups through our AgriManch Accelerator Lab. Our investment goes beyond just financial backing; we are committed to providing the necessary resources and connections to help these startups thrive and make a significant impact in the ever-growing agriculture sector. Each of these innovative companies will drive sustainability and technological advancement. At FAAD Capital, we believe in empowering the next generation of Agritech pioneers, and we are proud to be part of their journey towards transforming the future of agriculture.”

Vatsal Lunawat, Investments Team, Faad Capital said, “Agritech is an interesting sector, growing at about 11-12% CAGR. Securing funds under AgriManch for these agritech startups spread across agri fintech, horticulture, mushrooms, and aqua feed, among others and presenting their potential to the right stakeholders has been a rewarding journey. By doing so, we are not only enabling these startups but are also opening doors to propel the next wave of agricultural technology in the country. We strongly believe in the vision and capabilities of these startups and look forward to supporting their progress every step of the way.”

Notably, one of the four startups, Godaam Innovations, has already raised external funds amounting to $180k. Here’s a glance at the startups:

● Godaam Innovations specializes in providing smart storage solutions to reduce post-harvest losses and enhance supply chain efficiency.

● Aqin Biotech are introducing patented formulation for aquaculture and livestock feed to improve the survival rate of the animals by 20-25% and reduce mortality by 60-70%, increasing the overall income of the farmers.

● Mkelly Biotech has developed one-of-a-kind premix powder comprising millets and mushrooms to enrich the nutritional profile of flour and associated products, catering to individuals of all ages.

● VedaFit Foods addresses the issue of artificial foods by crafting genuinely healthy and natural products by consciously incorporating ingredients fortified with essential nutrition.

FAAD Capital’s latest investments mark a pivotal moment in the evolution of agritech. By combining financial backing with strategic support, FAAD Capital is not only fostering the growth of innovative startups but also paving the way for sustainable and technologically advanced agricultural practices. These efforts will undoubtedly contribute to a more efficient, productive, and resilient agriculture industry, benefiting farmers and consumers alike. Further, this investment will encourage startups in the agritech domain to believe in their ideas and come forward.