In a bid towards growth the Bengaluru-based Agritech startup Clover has raised over $5.5 million in a Series A funding round
Bengaluru-based Agritech startup Clover has raised over $5.5 million in a Series A funding round, from venture capital (VC) firm Omnivore and existing investors Accel and Mayfield.
The Bengaluru-based agritech startup Clover is an agritech platform that partners with farmers across India to market premium quality, branded, greenhouse-grown fresh produce through business to business (B2B) and business to consumer (B2C) channels.
We are thrilled to partner with Omnivore, Accel, and Mayfield as we scale our operations across multiple metro areas. This additional funding will help to accelerate the growth of our managed farm network, support our entry into new cities, and diversify our B2B and B2C fresh produce offerings.
-Avinash BR, Co-founder, Clover
Clover was founded by Avinash BR, Gururaj Rao, Arvind Murali, and Santhosh Narasipura. The company will use the funds to grow its farm network and diversify their offerings, said its co-founder Avinash B R.
Its business model centers around demand-led cultivation, a managed farm network, and full stack agronomy. Under the demand-led cultivation model, Clover grows high quality, consistent, and traceable fresh produce for specific and predictable client demands. The managed farm network of greenhouses are based in peri-urban and rural areas surrounding urban consumption zones, thereby ensuring freshness and reducing spoilage.
“We believe that Clover is building India’s first fresh produce supply chain adapted to the challenge of climate change. By leveraging peri-urban greenhouses, Clover can deliver the highest quality vegetables and fruits to B2B and B2C consumers in India’s largest metro areas. Omnivore is excited to support Clover in the coming years as they scale to new heights.” said Mark Kahn, Managing Partner of Omnivore.
It provides a full-stack agronomy solution to the greenhouse farmers in the network, improving yields and standardising output quality. Clover’s business model centers around demand-led cultivation, a managed farm network, and full stack agronomy.
Prashanth Prakash, Partner at Accel said, “Clover is transforming the perishables supply chain to better serve the new-age Indian consumer who values high quality produce. We look forward to the journey with a team that has a deep understanding of this space.”
Clover operates in the highly fragmented but large agriculture market of India. By using cutting edge technology, systems, and processes, the Clover team, led by Avinash, is disrupting the agriculture value chain for fruits and vegetables. This not only brings about economic benefits to Clover’s B2B customers but also ensures significantly improved quality of produce is delivered to the end B2C consumer.
-Vikram Godse, Managing Partner Mayfield
Earlier in December 2018, Accel and Mayfield had invested in Clover’s seed round when the company was still in stealth mode.