The company will use funding to introduce digital technologies to farmers in India.
Noida based agritech startup Unnati announced that it has raised USD 1.7 million (about Rs 12.5 crore) in pre-series A funding from Nabventures Fund to scale up its tech platform and introduce digital technologies to farmers in India.
The Company will use the funding for setting up more partner stores for selling agri inputs and purchasing produce in Eastern, Central and Western India.
“Unnati has created a platform to digitalise the major components in the food and agribusiness value chain. The predictive capabilities of the data captured by the platform enhances efficiencies while its transparent processes help in building trust among farmers and FPOs (Farmer’’s Producer Organisations)”, said G R Chintala chairman Nabard and Nabventures in a release.
A subsidiary of Nabard, Nabventures is a venture growth equity fund that invests in agritech, food, agri/rural fintech and rural healthtech/edutech. It has an asset under management of USD 75 billion. Fintech players form association to promote responsible lending practices
Unnati was founded in 2015, is a tech-enabled platform that provides access to competitively priced inputs to and enables them to access better markets in a fair and transparent manner. It also provides financial services to the farmer besides point-of-purchase farm advisories.
