Agrigators Enterprises Pvt Ltd, which owns the animal nutrition and healthcare company eFeed, announced recently that it has secured USD 1 million (about INR 8.2 crore) in seed funding from venture capital firm Omnivore.
Through OmniX Bio, a programme started to support early-stage entrepreneurs across agrifood life sciences, Omnivore invested in the Pune-based platform.
eFeed will use the additional funds to improve its operations in research and development, grow its farmer network, and increase recruiting.
Kumar Ranjan, co-founder and chief executive at eFeed said, “By empowering farmers with localized and customized feed advisory supplemented by our premixes, eFeed is improving cattle health, milk output, and farmer incomes while lowering reliance on expensive compound feed and medicines.”
In 2021, Ranjan, Ravi Chauhan, and Ankit Patel founded eFeed. It makes the bold assertion that it will upend India’s USD 14 billion animal nutrition and health sector.
The business sells dietary supplements for animals and makes the claim that these can boost milk production and overall bovine health. Offerings include connecting veterinary doctors with cow farmers for simple access to medical care, personalised ration balance, taking into account the location of the cattle and the raw resources available for feeding, and more.
A programme called OmniX Bio was established in December 2021 with the goal of assisting business owners who are engaged in agricultural biotechnology, novel farming techniques, bioenergy and biomaterials, as well as the development of novel foods, such as alternative proteins.
In October, Omnivore made an investment in the agricultural biotechnology startup BioPrime AgriSolutions Pvt. Ltd. alongside Inflexor Ventures as part of the company’s pre-Series A financing, which had a total valuation of about INR 9 crore.
The VC company also contributed to the seed round of the insect biotech business Loopworm in August 2022. Titan Capital and angel investors joined the round, which was co-led by Omnivore and WaterBridge Ventures.
Source: Startup Story