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Wednesday, June 19, 2024

Falca to build its agri-tech platform, acquire talent with over $ 3M

Agri-tech platform Falca has secured funding of more than $ 3 million. The company will use part
of the funds to focus on building its tech infrastructure, and acquire talent.

Falca, an agri-tech platform, has secured over $ 3 million in a pre-series A round led by Inflection Point
Ventures, as well as debt and equity capital. LetsVenture and Mumbai Angels, among other HNIs, also
participated in the round.

“The money will be used to scale the services beyond their existing locations, acquire people for growth,
and focus on expanding platform tech infrastructure.” Falca explained.

The rural agri-tech supply chain platform provides agricultural solutions to small and marginal farmers
by delivering services such as quality and genuine inputs, market connections, storage solutions,
consultancy, and technology for increasing farm productivity.

Falca stated that it is presently working with one million farmers, assisting them at various phases
ranging from soil testing to selecting the best fertilizer for the biggest production.

Vinay Bansal, founder and CEO of Inflection Point Ventures, said, “Farming is definitely the greatest
livelihood supplier in India,” However, it is accompanied by several obstacles that will surely take
considerably longer to handle given the large area to serve to. Organizations and government agencies
have been striving to assist farmers in increasing their revenue and lowering the cost of farming. This
has become a significant business potential for agri-tech firms. Along with its virtual assistance, the
group currently operates 30 ‘Falca Rural Service Points. With Falca, IPV intends to strengthen its
commitment to the agricultural community even further.”

The program also provides farmers with free analytical help, such as weather conditions, supply-demand
gaps, market pricing, and optimal harvest periods. Agricultural enterprises may also use the platform to
list their products/commodities.

Falca’s Founder and CEO, Santosh Danegoudar, stated, “Through our tech-based Phygital platform, we
work directly with farmers to provide them with end-to-end agricultural solutions. Our rural presence
and technology platform link smallholder farmers to end markets for quality inputs, marketing product,
renting machinery, farm consultancy, and storage services. We are now working with over 100,000
farmers, as well as more than 60 input manufacturers and 65 corporate purchasers, to facilitate
transactions totaling Rs 1,400 million.”


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