New Delhi, Aug. 5 -- Mumbai-based venture capital firm Orios Venture Partners and two overseas development finance institutions are set to invest in an Indian agritech platform, VCCircle has learnt.
The investors include Impact Fund Denmark (IFD), Denmark's development finance institution; Belgian Investment Company for Developing Countries (BIO), Belgium's development finance institution, and Orios Venture Partners Fund III.
Impact Fund Denmark and BIO are government-backed development finance institutions that invest in private sector businesses across developing markets.
The trio plans to invest in FarMart Service Pvt Ltd, which operates an AI-powered business-to-business (B2B) food supply chain platform connecting farmers, processors, food manufacturers and retailers.
Emails sent to Orios Venture Partners, IFD, BIO and FarMart remained unanswered till the time of publishing the article.
Founded in 2015 by childhood friends Alekh Sanghera and Mehtab Singh Hans, Gurugram-based FarMart pivoted from an agritech marketplace to an agri-commodity platform in 2022 and has since expanded its technology stack through FarMartOS, a software platform for managing food supply chain transactions.
FarMart has attracted backing from investors including General Catalyst, Z47 (formerly Matrix Partners India), Avaana Capital, Omidyar Network, Orios Venture Partners and 500 Global.
Last year, the company raised a $10 million Series C funding round from Orios Venture Partners, Z47, Trifecta Capital and Stride Ventures.
The company has also tapped debt financing in recent years. In 2024, it raised capital from ResponsAbility Investments to strengthen its processing business and improve supply chain traceability. It has since expanded into packaged food and deployed AI agents across its platform.
The company reported a gross order value of over Rs 2,800 crore in FY26, up 42.7% from Rs 1,961 crore in FY25, according to PrivateCircle. It had earlier told VCCircle that its Q4 exit revenue run rate crossed Rs 3,600 crore. It also claimed that it achieved EBITDA profitability during the quarter, marking its first full profitable quarter as operating leverage improved.
In FY25, FarMart's consolidated revenue rose 45.3% to Rs 1,971.6 crore from Rs 1,356.6 crore a year ago. However, net loss remained flat at Rs 72.6 crore in FY25 as against Rs 70 crore a year ago, according to PrivateCircle.
The company had previously said that it was focussed on scaling both its platform and consumer businesses in FY27, with the aim of positioning itself as a core infrastructure layer for the agrifood ecosystem.
Published by HT Digital Content Services with permission from VC Circle.