Unnati Agri, a fintech-driven agriculture administration platform, has raised Rs 60 crore or $8 million in its Series A round drove by Incofin Investment Management, NabVentures and Orios.
According to the Noida-based startup, the new capital will be utilized to ramp up its uStore organization and its tech infrastructure. The platform is also looking at geographical expansion to Haryana, Andhra Pradesh, Madhya Pradesh, Rajasthan and further expansion in Uttar Pradesh, Bihar, and Maharashtra.
Floated by Amit Sinha, previous COO of Paytm Mall, Unnati packs everything from pre-harvest guidance to present harvest administrations on working credit for farmers under a brought together platform.
On the input side, enrolled farmers can purchase seeds, pesticides, fertilizers and other items from scores of branded suppliers and sellers recorded on Unnati. And on the yield side, they can sell their produce straightforwardly to food processors and agribusinesses that the platform associates them with.
The four-year-old firm claims to have grown 15-folds in the last a year and served more than 3 lakh farmers through its organization of more than 20,000 uStore organizations.
Last month, six agritech startups raised funding including one undisclosed round.
