Latest News | ReshaMandi Raises USD 1.7 Mln
Get latest articles and stories on Latest News at LatestLY. ReshaMandi, an agritech startup working in the silk supply chain, on Thursday said it has raised USD 1.7 million (Rs 12.25 crore) in seed funding.
New Delhi, Mar 25 (PTI) ReshaMandi, an agritech startup working in the silk supply chain, on Thursday said it has raised USD 1.7 million (Rs 12.25 crore) in seed funding.
The Bengaluru-based company plans to use the funds for strengthening its digital platform and expand beyond Karnataka, establishing a presence in other important Indian silk hubs such as Maharashtra and Tamil Nadu, according to a statement.
"Our goal is to reduce the import of silk by helping Indian farmers improve their production capacity and quality," ReshaMandi Co-Founder and CEO Mayank Tiwari said.
The startup is working with more than 2,300 farmers and has Internet of Things (IoT) devices deployed across 10 rearing centres.
ReshaMandi is building a full-stack platform for organising the silk supply chain, providing services, including quality testing, technical advisory, high-quality inputs, and market linkages at each node of the silk supply chain.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)