Agri supply chain start-up Kamatan Farm Tech has raised Rs 30 crore in equity and debt financing from Samunnati Agro Solutions, the Delhi-based company announced in recent.
Kamatan, formed after the merger of the two agri technology start-ups, LivLush and Sabziwala in the year 2018, which works with more than 70 farmers produce the organizations to source produce for the direct supply to the agri enterprises, modern and processors retailers such as the ITC, Gujarat Ambuja and Cargill, among the others.
The company which is led by the former Indian Administrative Service Officer Pravesh Sharma helps the FPO’s in procuring, quality control and storing and logistics. Moreover, it also receives the large buyers of produce with the supply, bulk volumes and factory gate delivery.
Proceeds of the latest round of fundraising, which has also seen participation from Kamatan’s existing institutional investor, impact investment firm Elevar equity, will be used by the company towards further expanding its linkages with FPOs. In all, Kamatan has raised an estimated $10 million in a mix of debt and equity.
Sharma, chief executive of Kamatan said ,“ This will also add significantly to the depth of our engagement through value-added services, such as financial linkages, technology solutions for production, storage and quality management, besides input supplies”.
“Technology will increasingly play a disruptive role in bringing efficiencies at the farm-end of the agri supply chain, and large companies which consume staple farm produce will look to players like Kamatan to tackle procurement challenges,” Rohan Patnaik, chief operating officer at Kamatan, said.
Samunnati Agro Solutions is a subsidiary of Chennai-based agri value chain finance firm Samunnati Financial Intermediation and Services, which provides affordable and customised financial product offerings, including, retail loans to small and marginal farmers, working capital loans to community-based organisations and receivable finance to agri-focused SMEs.
“We are delighted to deepen our relationship (partnership) with Kamatan and see tremendous potential to leverage synergies to provide holistic solutions for FPO needs, including working capital, inputs, infrastructure support, and critical market linkages,” Anil Kumar SG, CEO of Samunnati, said.
