INI Farms, an agritech startup, has raised Rs 16 crore ($1.9 million) in its first funding round from ESG First Fund
- ByStartupStory | April 13, 2023
INI Farms, a startup in the agritech industry, has received $1.95 million, or Rs 16 crore, in its first funding round from ESG First Fund, which is managed by Aavishkaar Capital (Aavishkaar), a company in the Aavishkaar Group.
INI Farms claims that by expanding into the entire agriculture output business and utilising their strong supply chain capabilities, this investment will enable them to grow considerably.
INI Farms, a fruit and vegetable exporter with extensive pan-Indian operations in contract farming, aggregation, supply chain management, and serving international food retailers, was founded in 2009 by Purnima and Pankaj Khandelwal.
In March of last year, AgroStar paid cash and stock to acquire the startup. The Accel-backed company is an agritech company with over 2,000 retail locations and an agronomy advisory centre with over 5 million users on the digital farmer network. AgroStar currently has Aavishkaar as an investor.
An impact fund manager with a focus on the Global South is Aavishkaar Capital. In emerging Asia, Africa, and India, it makes investments in areas with significant social and environmental impacts. Aavishkaar Capital has raised eight funds successfully and is currently managing more than $555 million in assets.
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