Agritech Startup Fragaria in Talks for ₹40 Crore Funding Round

Chennai-based agritech startup Fragaria Fruits is reportedly in discussions to secure approximately ₹40 crore (US$4.2 million) in a new funding round. Sources indicate that Blume Ventures is expected to lead the investment, with participation from existing investors such as WEH Ventures and Rainmatter.

The company could achieve a post-investment valuation of around ₹160 crore. Founded in 2024 by Harish Varadharajan, Timothy Chad Van Niekerk, and Damian López-Salazar, Fragaria Fruits utilizes indoor vertical farming to cultivate premium, pesticide-free strawberries year-round. Their flagship product consists of high-quality European strawberries sold under the consumer brand Oh! Fruits.

Fragaria Fruits targets a premium niche within the burgeoning agritech sector. India's agritech market is projected for significant growth, with estimates suggesting it could reach US$28 billion by 2030, driven by a compound annual growth rate of 25%.

This potential funding follows a seed round of US$2 million raised approximately 10 months ago, led by WEH Ventures. The startup has been scaling its operations in Bengaluru, constructing a large-scale commercial farm aimed at producing 120 kg of premium strawberries daily. Fragaria is also developing facilities for blueberries and raspberries, expanding its focus within the premium berry category.