To Invest ?700 Crore in Expansion
To commence exports of vegetables to UAE, Singapore and Europe in the next few months
Eeki, a pioneering agritech startup cultivating nutritious vegetables in a sustainable manner, plans to invest ?700 crores over the next two years to scale up operations and enhance its domestic and global presence. The immediate expansion will take the company from Rajasthan and Haryana to Madhya Pradesh, Maharashtra, Tamil Nadu, and internationally into Oman. Eeki will also commence exports of vegetables to international markets including UAE, Singapore and Europe. Eeki’s technology produces 180 tonnes a year per acre, which is 18 times more than traditional farming. Eeki is the largest independent controlled environment farming company which will scale to 800 acres in the next two years.
“We are looking to expand our footprint into other states in India by partnering with like-minded landowners and partners. Our patented growing technology makes farming sustainable and climate proof, enabling year-round cultivation. Eeki farms deliver 18 times per acre yield as compared to traditional farming on even barren or unused lands at the similar cost, while using 80% less water,” said Abhay Singh, CEO & Co-Founder of Eeki.
“Automation lies at the core of Eeki’s operations, enabling seamless control of climate, irrigation, and nutrition through a cloud-based platform. We optimize yield and ensure crop health by detecting possible diseases early using image processing powered by machine learning and robotics” he further added,
“We at GC are inspired by daring founders like Abhay and Amit at Eeki who are building businesses with a focus on financial and societal return. Their business model and innovative solutions exemplify our aspiration to advance inclusive prosperity and make a meaningful difference in the lives of thousands of farmers,” said Anand Chandrasekaran Venture Advisor at General Catalyst.
“Our vision is to eradicate malnutrition globally by providing nutritious, residue-free vegetables accessible and affordable to all. Our revolutionary approach has utilised barren land for cultivation and created a significant socio-economic impact. We have saved 13,000 kilograms of fertilisers, conserved 12 Crore Litres of water every year, and generated employment for over 150 rural women, empowering local communities and driving positive change” added Amit Kumar, COO & Co-Founder of Eeki.
“As Eeki’s first institutional investor, we are excited by the potential their patented technology holds to revolutionize current farming practices and build a climate-resilient agriculture ecosystem. We look forward to having landowners across India and the world become a part of our journey of producing nutritious vegetables at market prices, making malnutrition a thing of the past,” said Anjali Bansal of Avaana Capital.
Eeki previously secured a Series A funding of $6.5 million from institutional investors including General Catalyst and Avaana Capital positioning the company to achieve its growth objectives. Eeki is already profitable and aims to achieve a revenue of $100 million in the next two years.
