FAAD Capital, an early-stage venture capital fund, has strategically invested $121,000 in four agritech startups as part of its AgriManch accelerator program.
Startups receiving pre-seed funding include Godaam Innovations, VedaFit Foods, Aqin Biotech and Mkelly Biotech, of which Godaam Innovations had previously raised $180,000 in external funding.
In addition to providing pre-seed funding, FAAD also provides post-funding support, such as connecting startups with the right stakeholders to generate revenue and helping them build networks within the agriculture sector for effective market entry strategies.
Godaam Innovations specializes in providing smart storage solutions that reduce post-harvest losses and increase supply chain efficiency, while Aqin Biotech offers formulations for aquaculture and livestock feed that improve animal survival rates by 20-25% and reduce mortality by 60-70%.
Mkelly Biotech has developed a premix powder with millet and mushroom to enhance the nutritional value of flour and related products, catering to people of all age groups. Delhi-based VedaFit Foods consciously incorporates ingredients fortified with essential nutrients to create truly healthy and natural products, eliminating the hassle of artificial foods.
Under this initiative, Gurugram-based FAAD Capital says it is working with various industry players to fund agritech startups. The firm invests across sectors and provides cheques ranging from $100,000-$500,000 from pre-seed to Series A. The firm claims to manage a portfolio of over 100 startups and has successfully exited over 10 of them.
