FAAD Capital, an early-stage venture capital fund, has strategically invested $121,000 in four agritech startups as part of their AgriManch accelerator program.
Godaam Innovations, VedaFit Foods, Aqin Biotech, and Mkelly Biotech are among the firms that have received pre-seed round investments. Godaam Innovations, for example, had previously raised $180,000 in external funding. Beyond pre-seed funding, FAAD will provide post-funding support, such as connecting businesses with the key stakeholders to create income and building networks within the agriculture industry for an effective go-to-market strategy.
Godaam Innovations specializes in smart storage solutions to reduce post-harvest losses and improve supply chain efficiency, whereas Aqin Biotech develops formulations for aquaculture and livestock feed to increase animal survival rates by 20-25% and reduce mortality by 60-70%.
Mkelly Biotech has created a premix powder with millets and mushrooms to improve the nutritional profile of flour and related goods, catering to people of all ages. VedaFit Foods, situated in Delhi, minimizes the inconveniences associated with artificial foods by creating genuinely healthy and natural goods that are enriched with necessary nutrients.
FAAD Capital, based in Gurugram, says it has cooperated with several industry stakeholders to fund agritech businesses through this program. It invests in a variety of sectors and offers checks ranging from $100k to $500k for Pre-Seed to Series A. The company oversees a portfolio of over 100 businesses and claims to have over ten successful exits.