New Delhi-based agritech startup Origo Commodities has raised ₹80 crores in funding from a clutch of impact investors including Oikocredit, Triodos Investment Management, along with Caspian SME Impact Fund IV.
Bengaluru-based financial advisory firm Unitus Capital acted as the sole financial advisor for the transaction.
The funds raised will be used to boost growth by strengthening the product and expanding outreach to people in need of financing and logistics solutions.
Origo Commodities was founded by Mayank Dhanuka and Sunoor Kaul in 2010. It provides a complete post-harvest agriculture supply chain financing and logistics solutions. Origo has expanded its presence to 15 states in India with more than 500 warehouses.
Ravi Narasimham, Investment Director at Caspian, said, ” We see Origo playing a key role in providing end-to-end solutions for buyers and sellers at every stage of the commodity supply chain. We are excited about the relationship and look forward to working with the Company.”
The startup offers end-to-end solutions for procurement, handling, preserving, storing, and financing farm produce, ensuring efficiency and value creation for buyers and sellers at every stage of the commodity supply chain.
It has assets under management worth ₹85 billion and storage capacity of over 3.5 million metric tonnes for a wide range of commodities.
Origo will be looking to bank on its investors’ experience in order to further expand and strengthen its position in the market.
Other players in the agritech domain include KrishiHub, Gramco Infratech, AgroStar, Gobasco, and AgroWave, among many others.
In August 2018, B2B agritech startup Our Food raised ₹1.4 crores in a bridge funding round led by 3Lines Ventures.
With the rising population, the demand for food is only going to increase, creating an opportunity for agritech startups to provide financing products for farmers, along with ways to enhance farming productivity, as the size of farming lands shrink.