Bollywood Actor Shilpa Shetty Kundra Invests in Mumbai-based Farm-to-Fork Startup KisanKonnect
- ByStartupStory | May 30, 2023
KisanKonnect, a farm-to-fork startup based in Mumbai, has recently raised an undisclosed amount of funding from renowned actor Shilpa Shetty Kundra. The startup, established in 2020 by Vivek Nirmal and Nidhi Nirmal amidst the pandemic, operates by directly sourcing food from a vast network of 5,000 farmers through village-level collection centers. With a focus on eliminating middlemen from the supply chain, KisanKonnect successfully delivers these products to consumers in Mumbai and Pune.
“Not only are they (Kisankonnect founders) solving the problem of safe-to-eat food, but they are also connecting thousands of farmers directly to the consumers, resonating with my thoughts about promoting health in my country, where agriculture is one of the major occupations,” said Kundra talking about the reason behind her investment in the startup.
In the farm-to-fork industry, Mumbai-based startup KisanKonnect distinguishes itself from competitors like DeHaat, Ninjacart, and WayCool through its direct-to-customer services offered via its mobile app and farm stores. Setting it apart further, the startup effectively manages a substantial 1.75 Lakh acres of cultivated land. With an extensive selection of over 200 vegetable varieties and 100 fruit types available online, KisanKonnect proudly claims to deliver approximately 1.5 Lakh boxes of fresh produce each month.
“We took three years to build our model patiently to build a supply-chain-first company. Working at farm level, reducing waste, building a robust last mile and gaining excellence in customer experience have always been our priorities. We see Kisankonnect is striking a chord with the majority of planned buyers, who value good quality over quick delivery,” said KisanKonnect founder Vivek Nirmal.
KisanKonnect, an agritech startup, asserts that it has achieved an Annualised Revenue Run Rate (ARR) of INR 120 Cr and serves over 1 Lakh customers in Pune and Mumbai. The company aims to leverage the immense potential in the agritech sector, projected to witness a compound annual growth rate (CAGR) of approximately 50% by 2027, reaching a market value of $34 Bn according to a report by Avendus Capital.
“Our integrated model right from soil testing, plant biologicals based on Regenerative Agriculture are helping thousands of our farmer members to nurture an active and healthy soil. Our unique model ensures better returns for smallholder farmers and fresh and nutritious food for the consumer,” added Nirmal.
In recent developments, Kundra’s investment in KisanKonnect adds to her recent funding of INR 2.25 Cr in the direct-to-consumer (D2C) brand WickedGud, known for its ready-to-cook products. Additionally, she has made an undisclosed investment in Hunar Online, a platform dedicated to upskilling women. Notably, the actor also increased her ownership in Mamaearth, a D2C unicorn expected to go public soon.
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