Nutrifresh signs Rs 2,500 Cr agriculture MoU with Maharashtra govt at Davos

The Government of Maharashtra has signed a Memorandum of Understanding (MoU) valued at approximately Rs 2,500 crore with Rural Enhancers Group and Nutrifresh Farm Tech at the ongoing World Economic Forum in Davos.

The agreement was signed in the presence of Maharashtra Chief Minister Devendra Fadnavis. The MoU was executed by Ambar Ayade, Managing Director and CEO of Rural Enhancers Group, and Sanket Mehta, CEO of Nutrifresh Farm Tech.

The MoU focuses on investments in climate-smart and technology-driven agriculture in Maharashtra and is among the first agriculture-focused agreements signed at the forum. The project is scheduled to go live from April 2026 and will leverage Nutrifresh’s technological capabilities.

Founded in 2019 by Ganesh Nikam and Sanket Mehta, Nutrifresh uses Artificial Intelligence (AI) and Internet of Things (IoT)-based technologies to deliver agricultural produce. The company plans to expand its operations to 2,000 acres by 2028 and is targeting annual revenue of $250 million. Nutrifresh currently offers over 50 products, operates across more than 15 Indian states, and serves select international markets.

Under the agreement, Rural Enhancers Group will act as the funding agency and project integrator, while the Government of Maharashtra will provide policy, institutional, and implementation support. The project will be financed through a blended funding structure involving UAE-based financial institutions, Indian public sector banks, development finance institutions, and foreign banks.

Commenting on the agreement, Ambar Ayade said the initiative is expected to support employment generation, promote climate-resilient agricultural practices, encourage agri-tourism, support women’s participation, and contribute to improving farmers’ incomes.