New Delhi-based cold chain solutions provider enterprise New Leaf Dynamic Technologies has raised Rs 6.15 crore in pre-Series A round from Moskovitz’s firm Good Ventures LLC.
Previously, the firm had received a grant of $50,000 from Villgro, CEEW and Ikea Foundation, alongside a grant of $100,000 and technical assistance from Water Energy for Food (WE4F) South and Southeast Asia.
The startup plans to increase and strengthen its product portfolio in the near future and make its existing product offering – a biomass-powered refrigeration unit GreenCHILL available to a greater number of channel partners.
Co-founded by Akash Agarwal, New Leaf’s refrigeration technology utilizes biomass and farm waste to facilitate the increase of income for micro-enterprises by prolonging the shelf life of perishable produce.
Recently, New Leaf tweaked its business model to provide access to finance to its end-users: farmers and farmer-producer companies by providing loan guarantees through various banks and financial partner institutions on behalf of the farmers.
As of today, New Leaf claims that it is supporting around 15,000 farmers, and post-fundraise, it aspires to impact the livelihoods and income of more than 2 lakh small and marginal farmers over the next 3 years.