April 22, 2024

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Unnati raises $1.7 mn from Nabventures Fund

Ag-tech commence-up Unnati has raised $1.seven million in pre-series A funding from Nabventures Fund, the organization explained on Monday.

The commence-up programs to use the cash to scale up its tech system and raise its geographical and crop footprint by placing up extra companion shops, explained co-founder Ashok Prasad, in a statement.

Unnati has a robust community of companion shops for promoting agri-inputs and acquiring deliver in Jap, Central and Western India. Aside from delivering competitively-priced inputs to farmers, Unnati works by using its reach to enable farmers to get remunerative selling prices for their deliver by enabling them to entry superior marketplaces in a honest and clear fashion. It also supplies money services to the farmer aside from place-of-obtain farm advisories.

Also read: Nabard announces ₹ 700-cr undertaking money fund for agri, rural startups

“Unnati has designed a system to digitalise the major elements in the food items and agribusiness benefit chain. The predictive abilities of the data captured by the system boosts efficiencies though its clear procedures support in making belief between farmers and FPOs.” explained GR Chintala, Chairman, NABARD and NABVENTURES.

“The Unnati crew is fixing some of the vital troubles faced by farmers like lack of entry to good quality inputs at clear selling prices and lack of previous-mile marketplace linkage to offer deliver at competitive selling prices. The amalgamation of a fintech layer has resulted in shopper stickiness. We take pleasure in the agri enter promoting and marketplace linkage proposition of the Unnati system and are pleased to assistance it on its onwards and upwards journey,” explained Manikumar S, Main Working Offier, Nabventures.

Unnati has previously been given funding from angel investors, such as Vijay Shekhar Sharma (Paytm), KRS Jamwal, current and previous Paytm senior executives Vikas Garg, Shankar Nath, Renu Satti, Gemba Money, and Ajay Lakhotia. The current expense transaction has also been supported by Sumeet Seraf who acted as advisor for the transaction, the organization explained.