Hectar Global raises $2.1 million seed funding

CHENNAI: B2B cross-border agri commodity platform Hectar Global has raised US$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 Srinath Srinivasan, Sibhi Kumaran and Aswath Balaji, Chennai-based Hectar Global helps food buyers worldwide purchase container volumes of agri commodities with ecommerce convenience.

The company’s platform digitizes complex cross-border supply chain processes, making them more efficient, transparent and sustainable. It 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.

“Our internal accruals have taken care of all operating expenses so far and we are primarily viewing this capital infusion, and future equity rounds, to expand into new geographies, and strengthen our digital infrastructure," Srinath Srinivasan, CEO of Hectar Global, said.

The company currently has offices in Chennai, Singapore, Dubai, Bangladesh and Sri Lanka. It has shipped more than 50,000 MTs of agri commodities to Asia, the Middle East and Africa.