Eekifoods, a vegetable growing technology startup based in Gurgaon, India, has caught the attention of investors, resulting in a pre-Series A funding.
In a statement, the agritech startup said it has raised the fresh funding from tech startup accelerator GSF Accelerator and other investors, including Naho Shigeta, founder and CEO of Infobridge Holdings; Shalin Sanjay Shah of Core91 VC; and a Gulf-based syndicate.
Eekifoods, founded in 2019 by Amit Kumar and Abhay Singh, has developed a unique and proprietary vegetable growing technology, which allows it to produce completely residue-free Indian and exotic vegetables and sell profitably at near-market prices.
“This has been possible because Eeki’s technology has reduced the cost of growing by as much as 40% for a variety of Indian fruit-bearing vegetables, as compared to other coco-peat-based hydroponics technologies,” the startup said.
The startup said the funds will primarily be used for further technology development, scaling operations, and team building, according to the company.
With the fresh funding, Eekiffods said it is looking for new farm partners that can be provided with consistent income via farming-as-a-service. The startup currently has four functional farms in Rajasthan that are remotely managed and controlled by Eeki’s farm IoT.
It is looking tbottle gourd least 12 more farms by the end of this financial year and produce 84 near-market of produce monthly, for sale in the NCR and Rajasthan area.
Eekifoods co-founder Abhay Singh said the startup has a unique technology that focuses on inculcating cutting-edge agricultural techniques that are both sustainable and economically viable.
Today, the startup is able to grow tomatoes, bottlegourd, eggplant, cucumber, and other vegetables and sell them profitably at near market prices.
“We are excited to have the backing of renowned investors like GSF Accelerator at such an early stage, and this funding is a strong validation of our mission at Eekifoods to build the most sustainable agriculture platform in the world,” Singh added.