Greenday wants to use the extra funding to extend its NutriFarms project and strengthen its biofortification technology, according to Inc42. Furthermore, Greenday will spend a portion of its earnings to improve its distribution network and assist expansion across several crops. Greenday, founded in 2017 by Prateek Rastogi and Aishwarya Bhatnagar, rewards farmers for growing nutrition-dense crops high in important micronutrients, including iron, zinc, vitamin A, and vitamin D.
Image source: entrackr
Greenday, an agritech startup, has signed badminton player PV Sindhu as an investor and brand ambassador for its FMCG brand Better Nutrition.
According to Inc42, the Lucknow-based business intends to use the new funding to extend its NutriFarms initiative and improve its biofortification technology.
Greenday will also spend a portion of its earnings to improve its distribution network and support its expansion into numerous crops.
Prior to this, in 2022, Greenday secured an undisclosed sum of money from IIMA Ventures (formerly known as CIIE), a business incubator founded at IIM- Ahmedabad, as well as a group of angel investors.
According to a statement from the firm, Greenday hopes to use biofortification to address the urgent problem of vitamin deficiencies in India through its collaboration with Sindhu.
Greenday, founded in 2017 by Prateek Rastogi and Aishwarya Bhatnagar, incentivises farmers to plant nutrition-dense crops high in important micronutrients including iron, zinc, vitamin A, and vitamin D.
It currently operates approximately 75 agri-input outlets and procurement centers throughout the country under the Greenday ‘Kisan Ki Dukan Brand’.
Meanwhile, its FMCG brand Better Nutrition uses biofortification to boost crop nutritional content from the seed stage. It offers a wide range of goods, including biofortified Atta, Rice, Bajra, Ragi, and Makka.
“We currently collaborate with 15,000 farmers and want to dramatically expand our activities. Our goal is to expand across multiple locations and crops. With our revenue currently above INR 10 crore, we expect the nutrition-dense farming and staples sector to grow to around INR 2000 crore by 2030, with Greenday at the forefront of this expansion,” Rastogi stated.
It is important to mention that Greenday provides biofortified seeds to farmers and also buys produce directly from them at a premium price.
To date, the business claims to have collaborated with many FMCG brands, mill owners, and government agencies to develop a supply chain for advanced biofortified agriculture produce.
Greenday competes in the food and agriculture technology sector with companies such as Bengaluru-based Agrizy and Gurgaon-based Agrowave, among others.
