Agritech startup Unnati Agri raises Rs. 60 crore in Series A round of funding
- ByStartupStory | November 11, 2021
The Agri-Fintech startup Unnati Agri announced that it has raised Rs. 60 crore in series A round of funding led by Incofin Investment Management, NabVentures and Orios.
The startup seeks to invest the recently infused capital to augment its tech infrastructure as well as to increase its uStore network. Additionally, Unnati also wishes to expand its reach in the states of Haryana, Andhra Pradesh, Madhya Pradesh, Rajasthan, Uttar Pradesh, Bihar and Maharashtra.
Talking about the recent funding drive, the CEO and Co-founder of Unnati, Ashok Prasad said, “Unnati has been committed to enhancing the lives of farmers as well as our retail partners through technology solutions. Unnati has built several innovative solutions to enable farmers and retailers to grow and scale their business, and our growth trajectory has been remarkable so far.”
Founded in 2017, Unnati Agri is an online platform which helps farmer entrepreneurs by connecting them to small and medium scale retailers. Till date, Unnati claims to have served more than three lakh farmers through its network of 20,000 plus uStore network. Over the last 12 months, the startup has grown more than 15 times owing to an increase in its platform usage.
Commenting about the recent infusion, Rahul Rai, Partner at Incofin India stated, “We are delighted to partner with the high performance founders- Ashok and Amit of Unnati Agri as they scale a tightly knit strategy of an integrated rural ecosystem of knowledge based farm input advisory, financial inclusion and supply chain integration through the use of technology.”
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