In a new fundraising round headed by AgriSURE Fund and involving EV2 Ventures, agritech firm Fambo has raised INR 21.5 Cr (about $2.4 Mn).

The business, which is based in Noida, intends to use a significant portion of the new funding to grow into western and southern India in addition to Northern India.  Fambo has undertaken a pilot shipment to Nepal and plans to expand into export markets in the near future.

Additionally, it intends to improve its AI-driven demand forecasting system, which assists eateries in avoiding overstocking or understocking.  The remaining funds will be used to hire personnel for various departments, including operations, technology, and sales.

This is Fambo’s second fundraising event of 2025. EV2 Ventures and a group of UHNIs led a comparable-sized round in January.

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According to cofounder and CEO Akshay Tripathi, the firm has moved from the early-stage validation stage to the growth stage with the most recent investment. 

“This round is about growing the model; the first was about determining product-market fit.  Our operations, ARR, and team size have all increased over the past ten months,” he told Inc42.

Fambo, an agritech startup founded in 2022 by Tripathi and Sudarshan Satle, provides food-away-from-home businesses with semi-processed, traceable farm goods.  It operates micro-processing facilities in cities, connects more than 4,000 farmers through FPOs (farmer producer organizations), and employs automation to cut waste, guarantee quality, and boost efficiency in QSR/kitchen supply chains.

Over 1,000 restaurants, including McDonald’s, Burger King, Burger Singh, California Burrito, Nomad Pizza, and Barbeque Nation, are being served by the Noida-based firm.

Additionally, its network of farmers has grown to 5,000 from about 2,000 the previous year.  In order to guarantee steady supply and equitable compensation, the startup has recently been collaborating closely with FPOs.  “While we secure dependable, high-quality produce, the FPO model guarantees farmers stable markets and better compensation,” Tripathi continued.

Fambo’s initial concentration was on providing fresh and chopped veggies, but it has since expanded into frozen and ready-to-cook products to help QSR and kitchen businesses save preparation time.

Additionally, it sells semi-processed goods made at its micro-processing facility in Noida, including chopped ingredients, chutneys, gravies, and spice blends.

In terms of finances, the firm says it reached profitability in the second part of the fiscal year and increased its top line by 17% YoY to INR 21 Cr.  The startup has not yet disclosed all of its fiscal year’s financials.

By the second half of FY26, it hopes to achieve an annual recurring revenue (ARR) of INR 50 Cr.  According to the cofounder, the startup’s operating revenue for the first half of FY26 was INR 21 Cr.