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    Harvesting Farmer Network raised $4 million from Chamath Palihapitiya’s Social Capital

    Harvesting Farmer Network raised $4 million from Chamath Palihapitiya’s Social Capital

    Harvesting Farmer Network raised $4 million from Chamath Palihapitiya’s Social Capital
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    By Jescilia Karayamparambil   IST (Published)

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    Founded by Ruchit Garg during the COVID-19 pandemic, Harvesting Farmer Network (HFN) was created to reduce the friction between farmers and buyers, initially by enabling them to connect directly on Twitter.

    Harvesting Farmer Network (HFN), an agri-tech platform, raised $4 million from Social Capital. The funds from this first institutional round will be used by the company to reach more than 120 million smallholder farmers across India, as well as explore new markets in rural India.
    The funds will be allocated to rapidly expand HSN’s footprint across India in the next 12 months.
    Founded by Ruchit Garg during the COVID-19 pandemic, HFN was created to reduce the friction between farmers and buyers, initially by enabling them to connect directly on Twitter.
    Ruchit G Garg, Founder CEO of HFN, said, “At HFN, our goal is to help farmers realise their full potential by reducing the plethora of inefficiencies across the agriculture value chain. Simple and widely-available technologies like WhatsApp and Twitter have allowed us to create massive data-driven farmer co-operatives, which allows farmers to negotiate better rates for farm inputs and more competitive prices for outputs.”
    Since its inception, over 360 crop varieties worth more than $500 million have been listed on HFN’s digital platform from every state across India. These crops have been sold domestically as well as to international markets. India produces more than $275 billion of crops annually.
    As of August 2022, more than 3.7 million farmers are digitally connected to the HFN platform. The company stated that post partnering with HFN, farmers have increased their crop earnings by up to 2.5X due to HFN’s more efficient and consolidated supply chain.
    The startup has also setup HFN Kisan Centres to help fellow local farmers sell their crops and buy staple inputs such as seeds and fertilizer at affordable prices.
    Adding to it, Jay Zaveri, Partner at Social Capital, said, “In our world of increasingly complex geopolitics and a rapidly deteriorating climate crisis, there is an urgent need for increased and better food security. India is one of the bread baskets of the world and we’re excited to partner with HFN to bring a safe, secure, and empowering platform to the more than 120 million smallholder farmers across India. Our goal is to allow citizens to get high-quality farm produce and for farmers to build a profitable livelihood through HFN.”
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