FAAD Capital Invests in 4 Agritech Startups - AgriManch Accelerator

New Delhi, Jul 24 (PTI) FAAD Capital has invested in four agritech startups -- Godaam Innovations, VedaFit Foods, Aqin Biotech, and Mkelly Biotech -- to support their growth plans.

In a statement on Wednesday, FAAD Capital, a Sebi-registered Category 1 Angel Fund headquartered in Gurgram, said it has made a strategic investment in four innovative agritech startups as part of their AgriManch Accelerator.

"The startups receiving the investment in the pre-seed round include Godaam Innovations, VedaFit Foods, Aqin Biotech and Mkelly Biotech. This financial boost aims to empower these startups in their mission to revolutionise the agriculture industry," it added.

FAAD has infused over USD 1,21,000 in four startups. Beyond the pre-seed funding, FAAD Capital will offer post-funding support, including connecting the startups with the right stakeholders to generate revenue and help build networks within the agriculture sector for an effective go-to-market strategy.

Aditya Arora, CEO at FAAD Capital, said, "Our investment goes beyond just financial backing; we are committed to providing the necessary resources and connections to help these startups thrive and make a significant impact in the ever-growing agriculture sector. Each of these innovative companies will drive sustainability and technological advancement."

Godaam Innovations specialises in providing smart storage solutions to reduce post-harvest losses and enhance supply chain efficiency.

Aqin Biotech is introducing a patented formulation for aquaculture and livestock feed to improve the survival rate of animals by 20-25 per cent and reduce mortality by 60-70 per cent.

Mkelly Biotech has developed a one-of-a-kind premix powder comprising millets and mushrooms to enrich the nutritional profile of flour and associated products, catering to individuals of all ages.

VedaFit Foods addresses the issue of artificial foods by crafting genuinely healthy and natural products by consciously incorporating ingredients fortified with essential nutrition, the statement said.