Agritech

Samunnati Secures Rs 133 Crore from Blue Earth Capital for Climate Projects

• ByStartupStory     |    June 15, 2024

Agri-finance startup Samunnati has secured its largest debt tranche of Rs 133 crore ($16 million) from global impact investment firm Blue Earth Capital, marking a significant milestone in its efforts to enhance climate and sustainability projects in rural communities.

“This boost will strengthen our efforts to improve the lives of smallholders through climate and sustainability projects. Their partnership empowers us to amplify our impact, driving positive change in rural communities,” said Anil Kumar SG, Founder and CEO of Samunnati.

The funding will support collaborations with lenders, international agencies, and government bodies on initiatives such as green bonds, thematic lending models, and credit guarantee coverage programmes. These efforts aim to build a climate-smart compliant portfolio, with 22% of Samunnati’s current active portfolio already dedicated to climate-smart financing.

Blue Earth Capital, a Switzerland-based firm, marks its first debt investment with this partnership. The impact investment firm is eager to support Samunnati’s mission to expand its loan book and promote climate-smart agricultural practices.

“We are delighted to start our partnership with Samunnati to help them expand their loan book and enhance the adoption of climate-smart agricultural practices across its portfolio. We are very impressed with Samunnati’s unique high-impact social outcomes while demonstrating strong resilience throughout different market conditions,” said Amy Wang, Head of Private Credit of Blue Earth Capital.

Earlier this financial year, Samunnati also received $5 million (Rs 41 crore) from Enabling Qapital, adding to its impressive funding streak from FY 23-24, during which it raised $155 million in debt and equity.

Founded in 2014, Samunnati provides a range of financial, co-financial, and non-financial solutions to marginal, small, and medium farmers, agri enterprises, and wholesale/retailers. The company specialises in value chain finance, agri-value chains, financial services, non-financial services, agricultural finance, and market linkage.

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