Agritech startup Onato, a data driven B2B platform for fresh produce, on Tuesday said it has raised USD 2.2 million from investors to expand its business.

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This round was led by Vertex Ventures Southeast Asia and India with participation from Omnivore, the company said in a statement.

Onato plans to use funds for talent acquisition and scaling up operations.

 

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Based out of Bangalore, Onato was founded in February 2021 by entrepreneurs Vedant Katiyar and Ashish Jindal. The startup is building a technology platform for fruits and vegetables (F&V) industry.

"More than 60 per cent population of India is dependent on agriculture and yet tech penetration in the agri-supply chain is quite low. Decision making is mostly intuition driven which leads to a lot of volatility in prices and wastage," Katiyar said.

Transparency in price discovery and fulfilment through technology will play a crucial role in streamlining the supply chains and decision making, he added.

"We envision that by harnessing the power of on-ground data, we can create a revolutionary change in the existing agri value-chain which will result in better value distribution for all participants from farmer up to end-consumer," Jindal said.