Unnati Agri, a fintech-driven agriculture service platform, has raised Rs 60 crore or $8 million in its Series A round led by Incofin Investment Management, NabVentures and Orios.
According to the Noida-based startup, the fresh capital will be used to ramp up its uStore network and its tech infrastructure. The platform is also looking at geographical expansion to Haryana, Andhra Pradesh, Madhya Pradesh, Rajasthan and further expansion in Uttar Pradesh, Bihar, and Maharashtra.
Floated by Amit Sinha, former COO of Paytm Mall, Unnati bundles everything from pre-harvest guidance to post-harvest services to working credit for farmers under a unified platform.
On the input side, registered farmers can buy seeds, pesticides, fertilisers and other products from scores of branded suppliers and sellers listed on Unnati. And on the output side, they can sell their produce directly to food processors and agribusinesses that the platform connects them with.
The four-year-old firm claims to have grown 15-folds in the last 12 months and served over 3 lakh farmers through its network of over 20,000 uStore networks.
Last month, six agritech startups raised funding including one undisclosed round.