Agritech startup Fambo has raised INR 21.5 Cr (about $2.4 Mn) in a fresh funding round led by AgriSURE Fund, with participation from EV2 Ventures.

The Noida-based startup plans to utilise a large chunk of the fresh capital to expand beyond Northern India and into western and southern regions. In the near future, Fambo also bids to expand into export markets and has made a pilot shipment to Nepal.

It also plans to enhance its AI-powered demand prediction system, which helps restaurants avoid overstocking or understocking. The rest of the capital will be earmarked for hiring its team across functions like sales, technology and operations..

This is Fambo’s second fundraise of 2025, following a similar sized round in January led by EV2 Ventures and a group of UHNIs.

As per cofounder and CEO Akshay Tripathi, the latest round marks the startup ’s transition from early-stage validation stage to growth stage. “Our first round was about establishing product-market fit; this one is for scaling the model. In the last 10 months, our operations, ARR, and team size have all doubled,” he told Inc42.

Founded in 2022 by Tripathi and Sudarshan Satle, Fambo is an agritech startup that supplies semi-processed, traceable farm produce to food-away-from-home businesses. It links 4,000+ farmers via FPOs (farmer producer organisations), runs micro-processing centres in cities, and uses automation to reduce waste, ensure quality and improve efficiencies in QSR/kitchen supply chains.

The Noida-based startup currently claims to serve over 1,000 restaurant outlets including McDonald’s, Burger King, Burger Singh, California Burrito, Nomad Pizza, and Barbeque Nation.

Its farmer network has also expanded to 5,000 from around 2,000 last year. The startup has been working closely with FPOs to ensure consistent supply and fair pay in recent times. “The FPO model ensures farmers get stable markets and better remuneration while we secure reliable, quality produce,” Tripathi added.

Originally focussed on supplying fresh and cut vegetables, Fambo has diversified into ready-to-cook and frozen items designed to save preparation time for QSR and kitchen businesses.

Besides, it also offers semi-processed products such as chopped ingredients, chutneys, gravies and spice mixes, produced at its micro-processing centre in Noida.

On the financial front, the startup claims to have grown its top line by 17% YoY to INR 21 Cr along with attaining profitability in the second half of fiscal. The startup is yet to reveal its complete financials for the fiscal year.

It expects to reach an annual recurring revenue (ARR) of INR 50 Cr by the second half FY26. The cofounder claims that the startup has recorded an operating revenue of INR 21 Cr in the first six months of FY26.

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