Greenhouse agritech startup Clover has raised over $5.5 million in a Series A funding round, from venture capital (VC) firm Omnivore and existing investors Accel and Mayfield.
Clover is an agritech platform that works with farmers across India and markets greenhouse-grown produce through business to business (B2B) and business to consumer (B2C) channels. The company will use the funds to grow its farm network and diversify their offerings, said its co-founder Avinash B R.
Accel and Mayfield had invested in Clover’s seed round in December, 2018, when the company was still in stealth mode.
The Bengaluru-based company was co-founded by Avinash, Gururaj Rao, Arvind Murali, and Santhosh Narasipura.
“We are thrilled to partner with Omnivore, Accel, and Mayfield as we scale our operations across multiple metro areas. This additional funding will help to accelerate the growth of our managed farm network, support our entry into new cities, and diversify our B2B and B2C fresh produce offerings,” Avinash said in a statement.
“We believe that Clover is building India’s first fresh produce supply chain adapted to the challenge of climate change. By leveraging peri-urban greenhouses, Clover can deliver the highest quality vegetables and fruits to B2B and B2C consumers in India’s largest metro areas,” said Mark Kahn, Managing Partner of Omnivore.
Prashanth Prakash, Partner at Accel, said, “Clover is transforming the perishables supply chain to better serve the new-age Indian consumer who values high quality produce. We look forward to the journey with a team that has a deep understanding of this space.”
