[Portfolio News] Aqgromalin raises Rs 5.5 crore in funding led by Zephyr Peacock India Growth Fund
Zephyr Peacock invests in small and medium sized enterprises operating across financial services, food and agriculture, and infrastructure ancillaries sectors. The Fund has invested in Aqgromalin, a tech-driven provider of services related to animal husbandry and allied activities.
Click here to read the full article on ‘The Economic Times’
Below is an excerpt from the post that first appeared on The Economic Times on 15 July 2021:
Agri-tech startup Aqgromalin, said it has raised Rs 5.5 crore in seed funding led by Zephyr Peacock India Growth Fund.
Indigram Labs Foundation, and other noted angels from the agri startup ecosystem also participated in the round.
As part of the deal, Zephyr Peacock, provider of growth capital to small and medium enterprises, will gradually scale up its exposure as the company grows, the release said.
Founded in 2019 by Prasanna Manogaran and Bharani C.L, Aqgromalin is a platform that enables farmers to diversify into animal husbandry and aquaculture. The company has reached over 40,000 livestock farmers across Tamil Nadu, Andhra Pradesh, Karnataka, Telangana, Assam, West Bengal, Orissa and Kerala. The company plans to reach over 1,00,000 farmers by the end of 2021.
“Animal husbandry and aquaculture sector in India is underserved and highly fragmented. Livestock farmers face various issues including limited availability of quality inputs, lack of quality feed, and lack of access to markets,” said Prasanna Manogaran, Co-founder and CEO, Aqgromalin.
Aqgromalin plans to use the funds raised from Zephyr Peacock for team expansion, technology development, category addition and geographical expansion.
