Ayekart, a vertically integrated agri-fintech platform, is gearing up to raise USD 7.4 million (~INR 65 crore) in a fresh funding round, marking a 2.8X surge in its valuation. The upcoming investment round will be led by Vihu Hospitality and Enchant Packaging, following its earlier USD 6.5 million (~INR 54 crore) Series A round closed in February 2024.
New Fundraise and Valuation Leap
Ayekart’s board has approved a special resolution to issue 5,333 equity shares at an issue price of INR 1,21,862 per share. The latest round values the company at INR 1,331 crore (USD 151 million) post-money — a significant rise from its INR 474 crore valuation during the previous round.
Vihu Hospitality will invest INR 35 crore, while Enchant Packaging will contribute INR 30 crore. The funds will be directed towards expanding Ayekart’s retail and distribution verticals, strengthening sourcing, processing, and raw material supply infrastructure. The filings also indicate that the total fundraising in this round could reach INR 150 crore, with existing investor Omnivore expected to participate with an additional INR 35 crore investment.
Building on a Strong Foundation
Founded in 2020, Ayekart operates as a full-stack agri-food fintech network, connecting farmers, FPOs (Farmer Producer Organizations), and MSMEs with supply chain, financing, and technology solutions. Its proprietary platform integrates services like quality assurance, logistics, payments, and traceability, bridging gaps between production and consumption.
Ayekart’s co-founder and CEO, Debarshi Dutta, emphasized the company’s mission to empower agri-food MSMEs:
“We understand the critical pain points that agri-food businesses face — access to markets, finance, and technology. Our fintech ecosystem has been designed to tackle these challenges head-on.”
Investor Confidence and Strategic Expansion
Ayekart’s latest funding reinforces the growing investor confidence in tech-driven agricultural platforms. Omnivore’s Managing Partner, Jinesh Shah, who also led the previous round, noted that Ayekart’s approach “aligns with Omnivore’s vision of driving financial inclusion and technological adoption across India’s agrifood value chain.”
The Mumbai-based company has now raised over USD 13 million (~INR 113 crore) to date. Post-allotment, Vihu Hospitality and Enchant Packaging will hold 2.63% and 2.25% stakes, respectively, while Omnivore will continue as the largest external shareholder with 13.71%. CEO Debarshi Dutta retains a 25.91% ownership stake.
Ayekart: Operational Milestones and Financial Growth
Ayekart has demonstrated consistent operational and financial growth since its inception. The company’s Gross Transaction Value (GTV) surged 2.3X to INR 1,533 crore in FY24, up from INR 643 crore in FY23, while also recording a profit of INR 94.3 lakh — a rare feat among early-stage agritech startups.
As of early 2024, Ayekart operated in 18 Indian states, serving over 9,000 active merchants and facilitating 2.5 lakh transactions through its platform. The company employs more than 150 people across six locations in India, with founding members including Debarshi Dutta, Ashutosh Singh, Milind Borgikar, Kunjal Thackar, and Anand Mugad.
Looking Ahead
With the upcoming funding round and increased valuation, Ayekart aims to consolidate its presence in the agri-fintech space and further enhance its technological backbone. The company plans to deepen its partnerships with FPOs, streamline agri-input and output flows, and scale its embedded financial services to enable seamless credit access for small and mid-scale food businesses.
As India’s agri-fintech landscape matures, Ayekart’s trajectory exemplifies how technology-led platforms can create measurable value across the supply chain — from farm to fork — while achieving sustainable profitability.
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