Agrifood FinTech Ayekart raises $6.5m in Series A Funding

By Gloria Mathias

Ayekart, an agrifood FinTech platform, has raised $6.5 million (INR 53 crore) in a Series A round led by Omnivore, Siana Capital, and Unleash Capital Partners.

With this capital infusion, Ayekart aims to expand its operations nationwide and cater to a larger audience of FPOs (Farmer Producer Organisations), food manufacturers, distributors, and retailers.

Founded in December 2020, Ayekart launched its commercial operations in September 2021 with a team of six and has since expanded into a team of over 150 members across six locations. The startup provides FinTech and supply chain solutions for traditional businesses in the agrifood value chain, boosting efficiency and convenience while preserving trust within the ecosystem.

Debarshi Dutta, Co-Founder & CEO of Ayekart, stated, “Since its inception, our unwavering commitment to positively impact the lives of smallholder farmers, Farmer Producer organisations (FPOs), and agrifood MSMEs across India has been the cornerstone of our journey. We understand the critical pain points that agrifood MSMEs face the need for market linkages, access to finance, and an efficient technology ecosystem to enhance their businesses. To address these challenges, we have developed innovative FinTech solutions tailored to empower FPOs and agrifood MSMEs. Ayekart is not just addressing gaps in the value chain but also driving meaningful change that empowers agrifood MSMEs and fosters sustainable growth across the value chain.”

Jinesh Shah, Managing Partner at Omnivore, said, “We are pleased to support Ayekart’s efforts in improving farmers’ lives and providing financial stability. Ayekart’s focus on empowering agrifood MSMEs with its cutting-edge technological approach resonates deeply with our investment philosophy. We are confident that this capital infusion will propel Ayekart’s advancement, stimulating noteworthy progress in both the agricultural and supply chain spheres.”

Sohil Shah, Founder & Partner at UNLEASH Capital Partners, stated, “We are proud to be part of Ayekart’s Series A funding, helping to leverage technology for enhanced financial solutions in the B2B supply chain. This investment is an important long-term step in helping Ayekart fulfil its mission to strengthen its market position and continue delivering value to its stakeholders and customers.”