Two Brothers Organic Farms has raised Rs 58.25 crore in its Series A funding round. The round was led by Rainmatter, an investment initiative by Zerodha, which contributed Rs 50 crore. Additionally, the funding saw participation from Raju Chekuri, Founder, NetEnrich.
The fresh capital infusion will be utilised to enhance the startup’s business growth in India and the US, explore demand-side opportunities, and expand supply-side operations. This latest round follows the Rs 14.5 crore pre-Series A round in April 2023, which included investments from Bollywood actor Akshay Kumar and cricketer Virender Sehwag.
Nithin Kamath, Founder and CEO, Rainmatter, expressed his enthusiasm for the investment, stating, “At Rainmatter Health, all of us are conscious of our health, and we keep having discussions about food, fitness, nutrition and health. 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.”
Founded by Satyajit Hange and Ajinkya Hange in 2019, Two Brothers Organic Farms generates 65 per cent of its revenue from its website, 15-20 per cent from online marketplaces, and maintains a small offline presence contributing seven to 10 per cent of sales. The customer base predominantly comes from urban areas, with 45-46 per cent hailing from Delhi-NCR, Bengaluru, Hyderabad, Chennai, Karnataka, Maharashtra and Mumbai, while the remaining comes from tier-II, tier-III and tier-IV cities.
“We are glad to have like-minded individuals and organisations participate in this fund-raising effort who understand and support our vision for organic food business in India and abroad. This funding round will empower us to create an organic ecosystem which sits on the value base of conscious food while it is clean and sustainable,” the Hange brothers said in a joint statement.
Looking ahead, Two Brothers Organic Farms aims to achieve Rs 500 crore in revenue within the next four years and support more than 50,000 farmers.
