Total amount raised
$6.2 Millions
Latest funding date
02/01/2022
Location
Krishify has successfully raised funding through multiple rounds, with its most recent being a Seed round closed on February 22, 2022. The platform is a social network designed for farmers to discuss and solve their agricultural input needs.
Keep reading to explore the intricacies of Krishify's fundraising journey and the investors backing this innovative platform.
What Is Krishify?
Krishify, founded in 2019, is a pioneering platform in the agriculture technology sector. Headquartered in Gurgaon, Haryana, India, the company was established by Avinash Kumar, Manish Agrawal, and Rajesh Ranjan.
With an employee count ranging between 51-100, Krishify focuses on creating a social network for farmers to discuss and solve their agricultural input needs. The platform offers a variety of services, including SaaS solutions, input services, and community engagement, aimed at digitizing agricultural value chains and enhancing farm management.
How Much Funding Has Krishify Raised?
- Amount Raised: $150,000
- Date: September 2019
- Lead Investors: APPYHIGH, Orios Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to develop and launch the platform.
- Amount Raised: $2.7 million
- Date: August 2021
- Lead Investors: Ankur Capital, Omidyar Network India, Orios Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand Krishify's user base and enhance the platform's capabilities.
- Amount Raised: $3.5 million
- Date: February 2022
- Lead Investors: Omnivore
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale the platform and improve monetization channels.
Total amount raised: $6.35 million. Current valuation: Not publicly disclosed.
Key Investors
- Omnivore
- Details: Omnivore is a venture capital firm that invests in startups working to transform food and agriculture. They focus on funding entrepreneurs who are building the future of agriculture and food systems.
- Investment Focus Areas: Agritech, food systems, sustainability.
- Notable Investments: DeHaat, Stellapps, AgNext.
- Ankur Capital
- Details: Ankur Capital is a venture capital firm that invests in early-stage startups in India. They focus on sectors that have a significant impact on society, including agriculture, healthcare, and education.
- Investment Focus Areas: Agritech, healthcare, education, social impact.
- Notable Investments: CropIn, Niramai, Health Sutra.
- Omidyar Network India
- Details: Omidyar Network India is a social impact investment firm that supports innovative organizations aiming to create social and economic change. They invest in entrepreneurs who are addressing India's social, economic, and environmental challenges.
- Investment Focus Areas: Social impact, economic change, technology for good.
- Notable Investments: 1mg, Aspiring Minds, Quikr.
- Orios Venture Partners
- Details: Orios Venture Partners is a venture capital firm that invests in early-stage startups across various sectors in India. They focus on technology-driven companies and consumer brands.
- Investment Focus Areas: Technology, consumer brands, early-stage startups.
- Notable Investments: Pharmeasy, GoMechanic, Zupee.
- APPYHIGH
- Details: APPYHIGH is a technology company that builds and invests in mobile applications. They focus on creating apps that enhance productivity and provide entertainment.
- Investment Focus Areas: Mobile applications, productivity, entertainment.
- Notable Investments: Not publicly disclosed.
What's Next for Krishify?
Krishify stands at the cusp of significant growth, with opportunities to expand its user base and develop robust monetization channels. The platform aims to address information asymmetry in the agricultural sector, providing a one-stop solution for farmers and agri-professionals. With a current user base of 3.5 million, growing at 30% month-on-month, Krishify targets to onboard 100 million users and unlock a GMV potential of over $10 billion in the next three to four years.
Future fundraising rounds are likely as Krishify scales its operations and enhances its technological capabilities. The involvement of prominent investors like Omidyar Network India and Ankur Capital suggests strong future fundraising potential. However, challenges such as maintaining rapid growth, ensuring accurate and trustworthy content, and competing with other agritech platforms remain. Navigating these hurdles will be crucial for Krishify's continued success in the agri-tech space.
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