Finance News
NRGene, Israel completes IPO on the TASE, raises $30 Mn
Israel-based NRGene, an AI-based genomic company operating in the agricultural and livestock industry, announced that it has successfully completed its initial public offering on the Tel Aviv Stock Exchange (TASE). NRGene raised NIS 100 Million (US$30 Million), with a post-money valuation of circa NIS 370 Million ...Read more
Budget 2021: Indian agri growth rests on pivotal transformation
The Indian agriculture sector accounts for close to 16 percent of the country's GDP, uses nearly half the available land, consumes around 80 percent of the freshwater resources, and engages almost 50 percent of the country's workforce. Approximately 70 percent of the rural households still depend primarily on agri...Read more
DCM Shriram's Q3 FY20-21 net profit up by Rs 252.55 Cr
DCM Shriram Limited has reported total income of Rs.2175.76 crores during Q3 FY20-21 ended December 31, 2020 as compared to Rs.2064.61 crores during the period ended September 30, 2020. The company has posted net profit of Rs.252.55 crores for the period ended December 31, 2020 as against net profit of Rs.118.37 ...Read more
Agritech DeHaat bags $30 mn in Series C funding led by Prosus Ventures
Based in Gurgaon and Patna, Agritech start up DeHaat has announced that it has raised USD 30 million from various investors to fund its expansion plan and strengthen technology platform. The company raised USD 30 million in Series C funding, led by Prosus Ventures (formerly Naspers Ventures). RTP Global co-invest...Read more
Rallis India posts 7% growth in Q3 consolidated revenues
Rallis India Limited, a TATA Enterprise and a leading player in the Indian agri-inputs industry announced its financial results for the quarter ended 31 December 2020. Announcing the results, Sanjiv Lal, Managing Director and CEO, Rallis India said, “During the current crop season, our business has witnesse...Read more
Ergos secures $3 Mn from UK based CDC in Series-A round
Agritech start-up Ergos announced that it has received Rs 22.5 crore (USD 3 million) from the UK''s CDC Group as the closure to its Series-A round, which constituted Rs 81 crore (USD 11 million). Earlier in March, the Ergos Series-A round of funds included Rs 35 crore (USD 4.9 million) investment from Aavish...Read more
Samunnati raises Rs 90 Cr in debt to provide loans to FPOs, agri-businesses
Agritech start up Samunnati has announced that it has raised EUR 10 million (around Rs 90 crore) in debt to provide loans to farmer producer organisations (FPOs) and SME agri businesses. Chennai-based Samunnati said in a statement it has raised EUR 10 million from FMO–Entrepreneurial Bank as well as T...Read more
CropIn raises US$20 Mn in Series C funding round
Bangalore based CropIn, a leading global artificial intelligence and data-led agri-tech organization empowering stakeholders to reimagine agriculture with data, has raised US$20 million in a Series C funding round led by ABC World Asia, an Asia-focused private equity fund dedicated to evidence-based impact investi...Read more
Raising funds in difficult times
Fund raising is a 'means to an end and not an end in itself'. Most start-ups who have raised funds will for sure relate to the statement. And for the wannabes looking for funding it is critical to appreciate this statement because the very approach to fund raising is dependent on this. Thinksynq does not bo...Read more
Agritech startup Agri10x raises seed round from Omnivore
Agritech startup Agri10x has announced that it has raised a seed round from Omnivore. Agri10x provides a blockchain and AI-enabled e-marketplace that connects farmers directly with buyers, helping them sell their produce at competitive prices. Agri10x plans to use this funding to expand across 8 more states...Read more
Gramcover sees six-fold growth in insuring rural India
GramCover is de-risking rural India and making insurance accessible for all by leveraging technology and its point of sale (POS) network. The year 2020 for the company, was a year of three-fold growth in terms of revenue and six-fold growth in terms of the number of insurance proposals. The company also beca...Read more
Escorts tractor hit 88% sales growth in Dec 2020
Farm equipment manufacturer, Escorts Agri Machinery reported an 88 per cent jump in tractor sales at 7,733 units in December 2020. The company had sold 4,114 units in December 2019. Domestic tractor sales during last month stood at 7,230 units as against 3,806 units in December 2019, up 90 per cent, Escorts said ...Read more
