Samunnati to set up weather stations for FPOs to structure insurance products for farmers

Hits the Rs 10,000 crores Gross Transactional Value (GTV) mark across its agri commerce and agri finance business

Agritech firm Samunnati is setting up weather stations for Farmer Producer Organisations (FPOs) to collect data that can be used to structure insurance products for the members of these collectives.

Recently Samunnati had hit the Rs 10,000 crores Gross Transactional Value (GTV) mark across its agri commerce and agri finance business. Furthermore, 50 per cent of this GTV came in over the last 18 months, the company said in a statement.

Anil Kumar SG, Founder and CEO, Samunnati, “Currently, we work with about 1500 FPOs or farmer collectives. The cumulative membership is about 6 million smallholder farmers. We don’t work with 6 million, but they have a membership base and it is growing. On the demand side, we work with about 3500 agri enterprises. We see a lot of traction in terms of making the value chains operate at a higher equilibrium by removing the working capital constraint.”