Agri-tech startup Concinnity Agro2o Pvt. Ltd, based in New Delhi, has raised funding from Mumbai Angels Network.
The company, founded by Yash Vyas in 2018, says it develops products focused on making hydroponics-based farming accessible to both small farmers and commercial institutions.
The deal sum was not disclosed.
“Argo2o has a clear potential to grow because we as consumers are always looking out for fresh and organic vegetables these days,” Mumbai Angels Network co-promoter and chief executive Nandini Mansinghka said.
Vyas said the investment from Mumbai Angels Network would help the company in supporting its vision of offering healthy and sustainable solutions.
Agro2o’s product, the Smart Garden, allows for intelligent nutrient infusion, water refill reminders, and comes with features such as automated lighting and water and air quality detectors.
Up to 50 different plant types can be grown through the product, and their growth can be monitored through a user’s smartphone.
Mumbai Angels Network
This marks the second reported deal by Mumbai Angels Network this week. On Monday, it announced a Rs 1.75 crore (around $230,732) commitment to Crimson Healthcare Pvt. Ltd, a health-tech startup focused on ostomy care.
The angel investment group was established in 2006 and says it has over 400 members across chapters in regions including Delhi, Bengaluru and Kolkata.
The group says it has over 140 companies in its portfolio and claims more than 45 exits with a cumulative investment of over Rs 150 crore.
According to VCCEdge, the data research arm of Mosaic Digital, some of the companies in its portfolio include CarterPorter Pvt. Ltd, Dhruva Space Pvt. Ltd and Leadstart Publishing Pvt. Ltd.
Earlier this month, Mumbai Angels Network invested in news distribution platform Knocksense Media Services Pvt Ltd. Last month, it invested in Tecso Charge Zone Pvt. Ltd, which operates an electric vehicle (EV) charging startup Charge+Zone.