Agtech firm Eeki to invest ₹700 cr over two years in expanding operations

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Agritech start-up Eeki plans to invest ₹700 crore over the next two years to scale up operations and expand its domestic and global presence, the company said in a statement.

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 the UAE, Singapore and Europe, it added.

“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 per cent less water,” said Abhay Singh, CEO & Co-Founder of Eeki.

Eeki, claimed to be the largest independent controlled environment farming company, will scale its operations to 800 acres in the next two years.

“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” Singh said.

Eeki previously secured a Series A funding of $6.5 million from institutional investors including General Catalyst (GC) and Avaana Capital.

“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, in a statement.

“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 kg of fertilizers, 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 revolutionise 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.