Clover, Bangalore-based Agritech startup raised Rs 7 crore in Venture Debt from Alteria Capital. This is an addition to the previous Rs 39 crore raised in February in the Series A round from investors like Accel, Omnivore and Mayfield. The startup provides premium quality, branded and greenhouse-grown produce through B2B and B2C channels by partnering with farmers across the country
This investment will be put in use to bring their vision of reshaping the supply chain for greenhouse-grown fresh produce. Clover was founded by Avinash BR, Gururaj Rao, Arvind Murali and Santhosh Narasipura. All of them have been working in separate industries before starting Clover. The startup claims that its business model centers around demand-led cultivation, a managed farm network and full stack agronomy.
Their farm networks are present in peri-urban or rural areas that surround urban consumption zones. This ensures freshness as well as reduces spoilage. The startup grows fresh produce for specific and predictable clients with its demand led cultivation. The investors seem to have strong belief in the company’s ideas and potential. They also think that agritech industry is ever-growing and even a situation like world pandemic had little or no impact on the industry.