Eeki to invest Rs 700 crore over 2 years to enhance domestic, global presence

Mumbai: Agritech startup Eeki on Wednesday said it is planning to invest Rs 700 crore over the next two years to scale up operations and enhance domestic and global presence.

The immediate expansion will take the company from Rajasthan and Haryana to Madhya Pradesh, Maharashtra, Tamil Nadu, and internationally to Oman, Eeki said in a statement.

The startup will also commence exports of vegetables to other international markets, including UAE, Singapore and Europe.

The agritech startup is the largest independent controlled environment farming company, the statement said.

"We are looking to expand our footprint into other states in India by partnering with like-minded landowners and partners. Our patented growing technology makes farming sustainable and climate proof, enabling year-round cultivation.

"We farm deliver 18 times per acre yield as compared to traditional farming on even barren or unused lands at the similar cost, while using 80 per cent less water," Eeki CEO and co-founder Abhay Singh said.

Automation lies at the core of the company's operations, enabling seamless control of climate, irrigation and nutrition through a cloud-based platform, he added.

Eeki previously secured a Series A funding of USD 6.5 million from institutional investors, including General Catalyst and Avaana Capital, positioning the company to achieve its growth objectives.

The company is already profitable and aims to achieve a revenue of USD 100 million in the next two years, Eeki said.