India, 24th July 2023: Faad Network, India’s leading early-stage fund, has announced the launch of AgriManch, its latest accelerator program aimed at fueling the growth of agritech startups in India. Building on the success of Finshastra for fintech startups, AgriManch will provide selected startups with funding, mentorship, and strategic partnerships, empowering them to revolutionize the agricultural sector. As per Kalaari, the AgriTech sector is expected to reach a $24 billion market by 2025, highlighting the immense growth potential in the sector.
AgriManch, a 12-week cohort program, will nurture and guide five promising agritech startups in sectors such as Automation, Agfintech, agbiotech, Aginfratech, Precision Agtech, and Upstream-Midstream Agtech. These selected startups will have access to accomplished mentors who will provide invaluable guidance to accelerate their growth and make a lasting impact.
“We are thrilled to introduce AgriManch, a groundbreaking accelerator program aimed at empowering agritech startups to overcome the challenges of capital requirements and equity dilution,” said Aditya Arora, CEO at Faad Network. “Through our robust ecosystem, we equip startups with vital funding, unparalleled access to industry-leading founders, and invaluable guidance from experienced mentors. Our primary objective is to facilitate the successful launch, sustained growth, and scalable expansion of early-stage startups by providing them with essential resources and fostering valuable collaborations.”
“India has established a formidable presence within the global startup ecosystem. Kudos to the agritech startups that are driving innovation in the agriculture sector and presenting a significant opportunity to cultivate success among agritech ventures and propel India towards a leadership position in this thriving industry,” said Vatsal Lunawat, Acceleration Manager at Faad Network
The cohort startups will receive a minimum capital infusion of 25 lakhs each to bolster their operations and facilitate their growth trajectory. The carefully crafted 12-week curriculum of AgriManch will empower startup founders with the knowledge and skills needed to build scalable solutions, develop robust business models, and leverage cutting-edge agricultural technology.
The mentorship will be provided by Seasoned Veterans and Founders, including Mayank Tiwari, founder of Reshamandi; Mr. Vamsi Udayagiri, founder of HESA; Dr. Ravi Shankar who is an entrepreneur, investor, and mentor in the Agritech startup ecosystem; Mr. Hemendra Mathur, founder of ThinkAg; among others, ensuring that startups receive the necessary expertise to thrive. Selected startups will have the opportunity to forge strategic partnerships with industry-leading organizations, including AWS, Cashfree, PayTm, Freshworks, and more.
The esteemed knowledge partners for the cohort include Wadhwani Foundation, ICAR-IARI Pusa-Krishi, Telangana State Innovation Cell, and Banking Partner Yes Bank.