Agritech startup Greenday has announced that badminton champion PV Sindhu has joined as an investor and brand ambassador for its FMCG brand, Better Nutrition.
The Lucknow-based startup plans to leverage the fresh capital to expand its NutriFarms project and enhance its biofortification technology, according to sources from Inc42.
Founded by Prateek Rastogi and Aishwarya Bhatnagar in 2017, Greenday incentivizes farmers to cultivate nutrition-dense crops enriched with essential micronutrients such as Iron, Zinc, Vitamin A, and Vitamin D. The startup currently operates around 75 agri-input stores and procurement centers across India under its “Greenday Kisan Ki Dukan” brand.
Sindhu’s partnership aims to address the pressing issue of micronutrient deficiencies in India through biofortification. Greenday’s FMCG brand, Better Nutrition, utilizes this process to increase the nutritional value of crops from the seed stage. Its product lineup includes biofortified atta, rice, bajra, ragi, and makka.
“We are collaborating with 15,000 farmers and plan to scale up our operations significantly. Our goal is to expand across various geographies and crops. With our revenue already surpassing INR 10 Crores, we project the nutrition-dense farming and staples market to grow to about INR 2000 Crores by 2030, with Greenday at the forefront of this growth,” said Rastogi.
Greenday’s previous funding round in 2022 saw an undisclosed amount raised from IIMA Ventures (formerly CIIE) and a group of angel investors. The latest capital infusion will also be used to enhance Greenday’s distribution network and support expansion across multiple crops.
The company provides biofortified seeds to farmers and purchases produce directly from them at a premium price. Greenday has partnered with several FMCG brands, mill owners, and government entities to establish a supply chain of advanced biofortified agricultural produce.
Competing against Bengaluru-based Agrizy and Gurgaon-based Agrowave, Greenday is making significant strides in the food and agriculture tech market. The Indian agritech sector has drawn substantial funding, with over $2.4 billion raised in 285 deals between 2014 and February 2024, according to Inc42 data.
Recent funding activities in the sector include New Delhi-based Poshn raising $4 million in a mix of equity and debt in its pre-Series A round, co-led by Prime Venture Partners and Zephyr Peacock India. FarMart secured INR 24 crore from Swiss asset manager ResponsAbility Investments, while Info Edge infused an additional INR 15 crore into agritech startup Gramophone.
With PV Sindhu on board, Greenday is poised to enhance its market position and drive growth in the nutrition-dense farming sector, addressing critical nutritional needs across India.
