CNBCTV | 27 February 2024
In a move towards addressing food waste and supporting farmer prosperity, Merak Ventures, an early stage venture capital firm, has invested a substantial $1.45 million (₹12 crore) in Farmtheory, a B2B agri-food startup.
According to a statement from the companies on Tuesday, February 27, Farmtheory, backed by Y-Combinator, specialises in minimising food waste at its origin, amplifying farm yields, and supplying top-quality ingredients to commercial kitchens.
"A sizable portion of the food supply in India remains unsold at the source due to unrealistic cosmetic standards — fruits and vegetables that outwardly look different but are perfectly edible are often discarded," the statement said.