Two Brothers Organic Farms, an agritech firm based in Pune, has raised INR 58.2 crore ($8.2 million) in an equity fundraising round headed by Rainmatter Foundation, which Nithin Kamath, a cofounder of Zerodha, created.
The money will be utilized to investigate new prospects, extend operations, and promote corporate expansion in the US and India. Under the Amor Earth brand, Two Brothers Organic Farms manufactures and distributes organic agricultural goods.
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With this finance, the company hopes to serve more than 50,000 farmers and reach a revenue target of INR 500 crore ($70 million) in four years.
“We are glad to have like-minded individuals and organisations participate in this fundraising effort, especially our lead investors Nithin Kamath of Zerodha and Raju Chekuri, who understand and support our vision for organic food business in India and abroad,” cofounders Satyajit Hange and Ajinkya Hange said in a joint statement.
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“We’ve not only invested in them (Two Brother Organic Farms) but also are customers – enabling feedback for them. It’s amazing that the Two Brothers’ team works with small farmers and improves their livelihood,” said Kamath.
About Two Brothers Organic farm
Two Brothers Organic Farm (TBOF) was founded in 2013 to address pressing issues in agriculture, soil fertility, chemical-free food, and sustainable living. Two Brothers farms breeds indigenous cows and grows organic fruits, vegetables, processed goods, and dairy. Ecocert-certified organic.
