Two Brothers Organic Farms, a direct-to-consumer (D2C) organic grocery brand, has successfully raised Rs 58.25 crore in a Series A funding round. The funding was led by Rainmatter, an initiative by Zerodha, one of India’s largest stock broking firms, which invested Rs 50 crore. The remaining amount was contributed by Raju Chekuri, a prominent Silicon Valley entrepreneur and founder of NetEnrich.
Founded by brothers Satyajit and Ajinkya Hange in 2019, Two Brothers Organic Farms focuses on promoting organic farming practices across India. Prior to this Series A round, the startup had raised Rs 14.5 crore in a pre-Series A funding in April 2023, with investments from notable personalities like Bollywood actor Akshay Kumar and cricketer Virender Sehwag.
The raised capital will be instrumental in accelerating the business growth of Two Brothers Organic Farms both within India and internationally, particularly in the United States. The startup plans to capitalize on demand-side opportunities and expand its supply-side operations to strengthen its market presence.
Nithin Kamath, the founder and CEO of Zerodha, expressed his motivation behind Rainmatter’s investment in Two Brothers Organic Farms. He highlighted the startup’s alignment with Rainmatter Health’s focus on promoting health-conscious initiatives and ensuring the safety and quality of food consumed by Indians.
Currently serving approximately three lakh customers with a notable repeat rate of 69%, Two Brothers Organic Farms has demonstrated robust growth, averaging a 70% year-on-year increase over the past four years. While online channels contribute significantly to its revenue (around 80-85%), the startup also maintains a small offline presence.
In conclusion, the Series A funding round led by Rainmatter signifies a significant milestone for Two Brothers Organic Farms, marking a pivotal moment in its journey towards expanding organic farming practices and strengthening its market leadership in the organic grocery segment in India and beyond.