Unnati Agri Secures Rs 28.5 Crore Funding, Forms Strategic Alliance with IPL Biologicals

• ByStartupStory     |    June 15, 2023

Unnati Agri, a startup specializing in agriculture supply chain and financial services, has recently formed a strategic alliance with IPL Biologicals to prioritize climate-ready products. Additionally, Unnati Agri has successfully raised Rs 28.5 crore in funding, with the family office of IPL Biologicals taking the lead. Notably, this funding round saw participation from existing investors such as Incofin Investment Management, Nabventure, and Orios.

With the newly acquired funds, Unnati Agri is set to enhance its product offerings through a collaborative go-to-market strategy with IPL Biologicals. Leveraging IPL Biologicals’ portfolio of patented microbial and biological nutrition, biocontrol, soil, and plant stimulants, Unnati Agri aims to expand its product line and cater to a wider market.

Since its establishment, Unnati has demonstrated unwavering dedication to mitigating agricultural risks through the integration of cutting-edge agricultural and digital technologies. By leveraging the latest advancements in agriculture and embracing digital solutions, Unnati empowers farmers to enhance their productivity while effectively managing risks arising from climate change. This innovative approach fosters sustainable farming practices and facilitates a more resilient agricultural sector.

Ashok Prasad, co-founder of Unnati Agri, said, “After bolstering our tech infrastructure and growing its uStore network, we are set to expand sustainable product portfolio across India. Through this partnership with IPL Biologicals, we will be able to help farmers adopt better and more sustainable farming practices backed by a range of the latest bio-products.”

IPL Biologicals president Harsh Vardhan Bhagchandka said, “IPL Biologicals’ strong technology-driven approach to sustainable products coupled with Unnati’s distribution reach will accelerate the adoption of bioproducts in India. We look forward to aggressively expanding across India through this partnership.”

Unnati has set its sights on robust growth by expanding its network to reach a wider farmer base, with a target of serving 5 million farmers. With its existing network of over 75,000 ‘ustores,’ the start-up has already established its services for more than 1.2 million farmers. Presently, Unnati is prioritizing the expansion of its comprehensive suite of services throughout the agricultural supply chain and financial sector, benefiting all stakeholders within the agriculture ecosystem.

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