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Falca, one of India’s fastest growing Agri-tech platforms, has raised over $3 million in PreSeries funding. Inflection Point Ventures led the round, which included debt and equity funding. LetsVenture, Mumbai Angels, and other HNIs also participated in the round. The funds raised will be used to expand the services beyond their current geographies, acquire talent for growth, and focus on building the platform’s tech infrastructure.
Falca is a Rural AgriTech supply chain platform that provides one-stop farming solutions to small and marginal farmers by providing a wide range of services such as quality and authentic inputs, machinery on rent, market linkages, feasible storage solutions, advisory and technologies for increasing farm productivity, and more.
Falca is currently assisting 1,00,000 lakh farmers at every stage, from soil testing to selecting the best fertilizer for maximum yield. Farmers can now sell their produce at a higher price directly to consumers from their fields, eliminating the need for extra overhead costs such as logistics, middlemen, and packaging. Falca’s platform also provides free analytical support, such as weather conditions, supply-demand gaps, market prices, and optimal harvest times. Agricultural companies can also list their products/commodities on the platform.
Vinay Bansal, Founder & CEO, Inflection Point Ventures, said in a statement that farming is unquestionably the most important source of income in India. However, it is accompanied by numerous challenges that will undoubtedly take much longer to resolve due to the large area to cater to. Organizations and government bodies have been working to help farmers increase their income and reduce farming costs. A large market opportunity has emerged for agri-tech startups. FALCA has curated a plethora of services for farmers, from the grass roots level to the final distribution of product to end users, based on extensive research. Its platform aims to educate farmers and familiarise them with the use of technology for cultivation as well as the benefits that the FALCA has to offer in order to make a better living and a profitable farming business. Along with its virtual support, the company now has a physical presence with 30 ‘Falca Rural Service Points’. With FALCA, IPV hopes to increase its support for the farming community.
Farmers can now rent the latest equipment or tractor based on their needs, lowering the cost of sowing and harvesting crops even further. Farmers can increase their productivity and efficiency by utilising the most recent mechanisation.
Santosh Danegoudar, Founder and CEO, FALCA, said, “We directly work with farmers and offer them end-to-end farming solutions through a tech based Phygital platform. Our rural presence and technology platform connects the small holder farmers with the end markets for quality inputs, marketing produce, renting machinery, farm advisory and storage services. We are working with 1,00,000 + farmers currenly along with 60+ Input manufacturers & 65+ corporate buyers enabling transactions worth INR 1400 Mn.”
Agritech development benefits the industry and accelerates the Indian economy by exporting high-quality goods/commodities. Agriculture is worth USD 375 billion today, and Agritech is expected to be worth USD 24 billion by 2025, with only 1 percent being addressed today, giving FALCA plenty of room to scale up.
