Two Brothers Organic Farms raises Rs 58.25 crore in Series A Round
Satyajit Hange and Ajinkya Hange, founders of Two Brothers Organic Farms
Two Brothers Organic Farms has completed its Series A funding round, raising Rs 58.25 crore. The brand aims to utilise the capital to support its business growth in India and the United States, explore demand-side opportunities, and expand supply-side operations.
The funding round was led by Rainmatter, an investment initiative by Zerodha, known for funding and incubating climate and health startups with a total capital infusion of Rs 50 crore. Another prominent investor leading the funding round was Raju Chekuri, a notable Silicon Valley entrepreneur and founder of NetEnrich. Most participating investors were among Two Brothers Organic Farms’ long-standing consumers and active supporters of the brand’s efforts toward strengthening the organic farming community.
This funding would help the brand to strengthen its business operations and grow its market presence in India and the United States. This would also help it promote the widespread adoption of organic food.
Brothers and co-founding farmers, Satyajit Hange and Ajinkya Hange, released a joint statement on the successful fundraising round, saying, “We are glad to have like-minded individuals and organisations participate in this fundraising effort, especially our lead investors Nithin Kamath of Zerodha and Raju Chekuri, who understand and support our vision for the organic food business in India and abroad. This substantial funding will empower us to cater to our consumers in India and help us assist Indian farmers in embracing organic farming practices.”
Nithin Kamath, founder and chief executive officer, Zerodha, said, “At Rainmatter Health, all of us are conscious of our health, and we keep having discussions about food, fitness, nutrition, and health. And we have always questioned stuff like ‘Is the atta we consume safe?’ or ‘Does milk have harmful antibiotics?’ These questions pushed us to find and support Indian startups trying to make Indians healthier. Two Brothers Organic Farms is one such startup. We’ve not only invested in them but also are customers—enabling feedback for them. It’s also amazing that the Two Brothers team works with small farmers and improves their livelihood.”
The latest funding round also marks a milestone for the Two Brothers Organic Farms’ growth trajectory, following its successful Rs 14.5 crore pre-series A funding in April 2023, where Bollywood actor Akshay Kumar and cricketer Virender Sehwag were key investors.
With the raised capital, Two Brothers Organic Farms aims to maintain a profitable growth trajectory and achieve a revenue of Rs 500 crore in the next four years. It also aims to support over 50,000 farmers in their journey towards sustainability. The brand also plans to use the funds to explore more demand-side opportunities and expand its supply-side operations. This would help it scale growth and achieve the targeted revenue in the next four years.
First Published: Jun 25 2024 | 7:56 PM IST