Agritech Startup Clover Kicks Off Series B Round: Report

Updated on: 30 September 2022 9:24 pm

Cashfree Payments was founded in 2015 by IIT Hyderabad aulmni Akash Sinha and IIT Kharagpur graduate Reeju Datta and it processes transactions worth $20 billion annually

Cashfree Payments Gets RBI Approval For Payment Aggregator License: Report Photo: Cashfree Payments was founded in 2015 by IIT Hyderabad aulmni Akash Sinha and IIT Kharagpur graduate Reeju Datta and it processes transactions worth $20 billion annually

Agritech platform Clover is looking to raise $8 million from new and existing investors as it begins its Series B round.

Clover has passed a special resolution to issue 100 equity and 2,90,047 Series B preference shares at an issue price of Rs 982 per share to raise Rs 28.5 crore or $3.6 million from IvyCap ventures, its regulatory filing with the Registrar of Companies (RoC) shows.

The remaining funds will be infused by their existing investor: Accel India, but the company has not provided further details on it, Entrackr reported.

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The fresh round for the Bengaluru-based company is coming after a gap of two and a half years.

As per Fintarckr’s estimates, the company has been valued around at $35-40 million post allotment.

Founded by Avinash BR, Gururaj Rao, Arvind Murali, and Santhosh Narasipura, partners with farmers across India to market premium quality, branded, greenhouse-grown fresh produce through B2B and B2C channels.