Two Brothers Organic Farms, an agritech startup, has secured ₹58.25 crore (approximately USD 7 million) in a Series A funding round spearheaded by Rainmatter Capital, the investment arm of Zerodha.
The company intends to utilize the newly acquired funds to fuel its expansion in both India and the United States, focusing on both increasing demand and bolstering its supply chain capabilities, as revealed by co-founder Ajinkya Hange to Inc42. This development was initially reported by Business Standard.
Raju Chekuri, founder of NetEnrich, also participated in the round. The Pune-based startup aims to utilise the capital to support its business growth in India and the US, explore demand-side opportunities, and expand supply-side operations.
The most recent funding round comes after the organic food firm received investments from Bollywood actor Akshay Kumar and cricketer Virender Sehwag during its INR 14.5 million pre-Series A round in April 2023.
Brothers and co-founding farmers, Satyajit Hange and Ajinkya Hange, said, “This substantial funding will empower us to cater to our consumers in India and help us assist Indian farmers in embracing organic farming practices. The funding has been a revolution of sorts, as we have always wanted patient and conscious capital to support our growth.”
Founded in 2019 by Satyajit Hange and Ajinkya Hange, Two Brothers Organic Farms is an organic grocery brand offering a variety of products, including cultured ghee, herbal ghee, cold-pressed oils, native heirloom flours, natural sweeteners, immunity and wellness supplements, single-origin spices, and native varieties of rice, pulses, legumes, and millets.
Nithin Kamath, Founder and CEO of Rainmatter, said, “At Rainmatter Health, all of us are conscious of our health, and we keep having discussions about food, fitness, nutrition, and health. And we have always questioned stuff like, ‘Is the atta we consume safe?’ or ‘Does milk have harmful antibiotics?’ These questions pushed us to find and support Indian startups trying to make Indians healthier.
“Two Brothers Organic Farms is one such startup. We’ve not only invested in them but also their customers, enabling feedback for them. It’s also amazing that the Two Brothers’ team works with small farmers and improves their livelihood,” he added.
