The Clover agritech platform has begun its Series B round, in which it hopes to raise up to $8 million from both new and existing investors. After a break of two and a half years, the Bengaluru-based startup is receiving new funding.
According to Clover’s regulatory filing with the Registrar of Companies (RoC), it has passed a special resolution to issue 100 equity and 2,90,047 Series B preference shares at an issue price of Rs 982 per share in order to raise Rs 28.5 crore, or $3.6 million, from IvyCap ventures.
The company hasn’t given any additional information about how its current investor, Accel India, will inject the remaining funds.
After allotment, Fintarckr predicts that the company will be worth $35–40 million. The company looks to be raising money in a Series B round that is still active.
