D2C Agritech Startup Uzhavarbumi Raises INR 7 Crore From Anicut Capital The fund raised will be utilized towards enhancing the technological prowess, improving plant and machinery equipment and amplifying marketing strategies
By Teena Jose
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A new-age D2C agritech startup Uzhavarbumi has raised INR 7 crore from Anicut Capital. The fund raised will be utilized towards enhancing the technological prowess, improving plant and machinery equipment and amplifying marketing strategies. The startup also aims to reform the packaging of products and increase their employee strength while expanding their operations across Bengaluru in 2023 and Hyderabad in 2024.
"We are thrilled to have Anicut Capital as our investor and partner in the mission to create a more sustainable and equitable agri-food system. With Anicut's support, we aim to expand our operations and bring farm-fresh milk to more customers across India", said Vetrivel Palani, founder and CEO, Uzhavarbumi.
Uzhavarbumi home delivers farm-fresh milk to urban areas of Chennai, procuring milk from rural and marginal farmers at a better market price and forming a bridge between the primary producers (farmers) and consumers. This also empowers farmers with a stable income as Uzhavarbumi procures milk from them throughout the year.
"We are proud to associate with Uzhavarbumi in their mission to promote direct commerce between farmers and consumers. Their innovative approach towards supply chain management and focus on eco-friendly packaging aligns with our vision of promoting sustainable development. They have immense potential in transforming the agricultural sector of India and we are excited to support their growth plans and expansion into new markets", said IAS Balamurugan, managing partner of Anicut Capital.
Anicut Capital is a multi-asset financial institution with offerings in debt and equity. Anicut currently manages two debt funds (GAF-1 and GAF-2), Anicut Angel Fund and Grand Anicut Fund 3.
