ImpactAlpha, June 4 – Reliable access to market is a persistent problem for smallholder farmers around the world, with much of what they produce spoiling or going to waste before it reaches buyers. Bangalore-based FarmFolks Agro buys produce from smallholder farmers and distributes it to Indian grocery retailers, offering reliable and more efficient market access to its farmer partners. It also offers consulting services to improve farming practices.
Menterra Social Impact Fund invested an undisclosed amount in the startup, which works with large Indian retailers including Tesco, Big Basket and Grofers. FarmFolks handles about 1,000 tons of produce per month.
- Supply chain deals… Last week, dairy supply chain venture Stellapps and YCook, another organic produce-focused startup, secured investor backing.
- Investor profile… Menterra’s Social Impact Fund invests in early-stage startups dealing with social issues in health, agriculture, energy and education. Last year, ImpactAlpha reported its investment in education venture Curiositi.
The Singh Family Foundation also invested in FarmFolk’s funding round.