Ayekart, a pioneering fintech startup specializing in the agricultural food sector, has successfully raised $6.5 million in a Series A funding round, with leading contributions from Omnivore, Siana Capital, and Unleash Capital Partners. This strategic funding will fortify Ayekart’s technological infrastructure and support its expansion efforts to reach a broader spectrum of stakeholders, including farmer-producer organizations, food manufacturers, distributors, and retailers.
Established in 2020, Ayekart offers cutting-edge fintech and supply chain solutions across the agricultural food value chain. The company has demonstrated remarkable financial prowess, having raised $6.29 million in funding across five rounds. With a presence in 18 Indian states, Ayekart boasts an active network of over 9,000 merchants, facilitating an impressive 2.5 lakh transactions.
Debarshi Dutta, Co-founder and CEO of Ayekart, emphasized, “We understand the critical pain points that agri-food MSMEs face—the need for market linkages, access to finance, and an efficient technology ecosystem to enhance their businesses. To address these challenges, we have developed innovative fintech solutions tailored to empower FPOs and agrifood MSMEs.”
Ayekart’s expansion strategy aligns with the government’s objectives to empower traditional businesses, promoting transparency and credibility within the ecosystem. The company’s commitment to empowering agri-food MSMEs through a technological approach resonates deeply with investors, as highlighted by Jinesh Shah, Managing Partner at Omnivore, who stated, “Ayekart’s focus on empowering agri-food MSMEs with its cutting-edge technological approach resonates deeply with our investment philosophy.”
With a team of over 150 professionals across six locations in India, Ayekart’s founders, including Debarshi Dutta, Ashutosh Singh, Milind Borgikar, Kunjal Thackar, and Anand Mugad, are steering the company toward a transformative future in the agrifood fintech space.
Unitus Capital served as the exclusive financial advisor to Ayekart for this transaction. The funds raised in this Series A round will be instrumental in supporting Ayekart’s nationwide expansion efforts and outreach to a more extensive customer base, including FPOs, food manufacturers, distributors, and retailers.
In 2022, Ayekart secured $5.5 million in debt and equity funding, emphasizing its commitment to providing financial and technological assistance to traditional businesses in the food and agri sector for sustainable growth. The company has ambitious plans to expand its services to 15 countries within the next five years.
In the dynamic agritech landscape, Ayekart’s successful Series A funding round reflects the growing demand for innovative solutions that address the unique challenges faced by agri-food MSMEs. This development positions Ayekart as a key player in driving positive change within the agricultural value chain