Hectar Global, a Chennai-based B2B cross-border Agri commodity procurement platform has raised $2.1 Million in seed funding led by Powerhouse Ventures. The round also saw participation from WEH ventures, All In Capital, Indian Silicon Valley, and angel investors Anant Sarda and Adhish Ladha.
Founded by National University of Singapore alumni Srinath Srinivasan, Sibhi Kumaran and Aswath Balaji, Hectar Global helps food buyers worldwide to purchase container volumes of Agri commodities with e-commerce level convenience.
Hectar Global aims to be at the forefront of digital transformation in the industry. Its platform digitizes complex cross-border supply chain processes, making them more efficient, transparent, and sustainable.
It claims leverages advanced data models and machine learning algorithms to provide real-time market information and actionable insights, helping customers plan their purchases to maximize profits.
Kshitij Golwalkar, General Partner at Powerhouse Ventures said, “Trading in Agri commodities requires deep domain expertise, given the inherent complexities in product qualities, price fluctuations, documentation, and freight. We feel that the team’s experience in cross-border trade and their ability to build technology products holds them in good stead to create significant impact in this industry.”
“While we are enamoured by the opportunity, as the market size is obviously large and there is no company effectively leveraging tech yet, our commitment to Hectar was primarily driven by the passion & execution demonstrated by the founding team. We believe there’s a definitive founder-market fit here” added Rohit Krishna, GP at WEH Ventures.