News Post

FAAD Capital invests four agritech startups through AgriManch accelerator

Entrackr · 1m

Early stage venture capital fund FAAD Capital has strategically invested $121,000 in four agritech startups as part of their AgriManch accelerator program. The startups receiving the investment in the pre-seed round include Godaam Innovations, VedaFit Foods, Aqin Biotech, and Mkelly Biotech. Among them, Godaam Innovations had earlier raised external funds of $180,000. Beyond the pre-seed funding, FAAD will offer post-funding support, including connecting the startups with the right stakeholders to generate revenue and help build networks within the agriculture sector for an effective go-to-market strategy. Godaam Innovations specializes in providing smart storage solutions to reduce post-harvest losses and enhance supply chain efficiency whereas Aqin Biotech provides formulation for aquaculture and livestock feed to improve the survival rate of the animals by 20-25% and reduce mortality by 60-70%. Mkelly Biotech has developed premix powder comprising millets and mushrooms to enrich the nutritional profile of flour and associated products, catering to individuals of all ages. Delhi-based VedaFit Foods eliminates the hassles of artificial foods by crafting genuinely healthy and natural products by consciously incorporating ingredients fortified with essential nutrition. Gurugram-based FAAD Capital says that it has collaborated with various stakeholders in the industry to fund agritech startups under this initiative. It invests across diverse sectors and provides cheques ranging from $100k – $500k from Pre-Seed to Series A. The firm manages a portfolio of over 100 startups and claims to have more than ten successful exits.