MoooFarm bags $13 million in series A and Cashify's retail strategy
Agritech and dairy startup, MoooFarm that focuses on bridging the technology gap to empower marginalized dairy farmers has raised $13 million in its series A funding round. Cashify, a recommerce platform for used electronics, has outlined an aggressive retail expansion strategy. The startup which currently has 170 offline stores plans to expand to 250 by March of next year.
Agritech and dairy startup, MoooFarm which focuses on bridging the technology gap to empower marginalised dairy farmers has raised $13 million in its series A funding round.
Aavishkaar Capital, the impact investing arm of the Aavishkaar Group, led the round in partnership with Aditya Birla Ventures and Accel Partners along with existing investors Rockstart Agrifood, Navus Ventures including venture debt from Alteria Capital.
To talk about the road ahead at MoooFarm, co-founder and chief technical officer, Jitesh Arora and Sushma Kaushik, Partner at Aavishkaar Capital spoke to Startup Street.
Cashify, a recommerce platform for used electronics, has outlined an aggressive retail expansion strategy. The startup which currently has 170 offline stores plans to expand to 250 by March of next year. This is with an aim to reach 120 percent annual growth. It also wants to be present in another 30 cities by the end of this year.
The company, in June, had raised $90 million and was backed by the likes of Newquest Capital Partners and Prosus. Startup Street spoke to Nakul Kumar, co-founder of Cashify to discuss the company's expansion plan and its road to profitability.
It's the dawn of a new era in the fintech space, with the Reserve Bank of India's new rules on digital lending guidelines kicking in starting tomorrow. These guidelines cover areas across lending processes, disclosures, technology, and data gathering by regulated entities, their digital lending apps/platforms (DLAs) and lending service providers (LSPs) engaged by them.
The norms bar the presence of third-party accounts in the flow of lending, they prevent an automatic increase in credit limits and consent-based use of borrower data among other changes. So how ready is the system to comply, and what will this mean for the digital lending ecosystem?
To discuss this, Startup Street spoke to Sugandh Saxena, CEO of the Fintech Association for Consumer Empowerment or FACE, and Anurag Jain, founder and ED at KredX and founding member of the Digital Lenders Association of India.
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First Published: Nov 30, 2022 7:54 PM IST
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