Eeki, an Indian agritech startup, has raised US$7 million in funding from Sixth Sense Ventures.

The Kota-based company last received investment over three years ago.

The new funds will be used to expand Eeki’s climate-resilient farming operations across India.

They will also be used to develop its Gen 3 aeroponic growing chambers. Additionally, the funding will enhance research and development efforts.

In 2022, Eeki raised US$6.5 million in a series A round led by General Catalyst. This was along with an additional US$2 million earlier that year from Avaana Capital.

Founded by Abhay Singh and Amit Kumar, Eeki employs patented aeroponic technology to grow pesticide-free vegetables year-round.

🔗 Source: Entrackr

🧠 Food for thought

1️⃣ India’s agritech sector rebounds after funding winter

Eeki’s $7 million raise reflects a broader recovery in India’s agritech funding landscape after a challenging period.

The agrifoodtech sector faced a significant funding crunch in 2023, with many startups experiencing long gaps between funding rounds similar to Eeki’s three-year interval 1.

This recovery aligns with recent data showing India emerged as a significant player in global agrifoodtech funding, raising $2.5 billion and experiencing a remarkable 215% increase in agritech investments 2, 3.

The timing is strategic, as the Economic Survey 2023 reported Indian agritech startups raised ₹6,600 crore (approximately $800 million) over a four-year period, demonstrating growing investor confidence in the sector 4.

Despite past challenges, industry projections suggest India’s agritech market could grow to $34 billion by 2027, driven by increasing digital penetration in agriculture and innovations in supply chain management 1.

2️⃣ Aeroponics presents compelling advantages despite high initial costs

Eeki’s aeroponic technology represents a data-backed approach to sustainable farming with quantifiable benefits over traditional methods.