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Animal Health, Company News, World

The joint venture will combine the specific strengths of both partners, including Vland’s market access, regulatory capabilities in China as well and its fast innovation cycles

Evonik China Co., Ltd and Shandong Vland Biotech Co., Ltd agreed to build a joint venture to expand their presence in gut health solutions products for farm animals globally. Evonik will be the majority shareholder in this joint venture with 55 per cent of the shares. The joint venture, called Evonik Vland Biotech (Shandong) Co., Ltd. will have its headquarters in Binzhou, China, and is planned to enter the market in Q1/2024.

The joint venture will combine the specific strengths of both partners, including Vland’s market access, regulatory capabilities in China as well and its fast innovation cycles. In addition, the joint venture will benefit from Evonik’s global sales force and market access, R&D and global regulatory capabilities. Sales of the new joint venture are expected to be in the low double-digit million euro range.

Evonik announced earlier this year that it is developing its speciality nutrition business with system solutions and specialities for poultry, swine and ruminants. The partnership with Vland on gut health solutions is an essential element towards Evonik’s strategy to offer system solutions for its customers in the animal feed industry.

Customised system solutions consisting of products, services and know-how delivering sustainability benefits are part of the strategic core of Evonik’s life science division Nutrition & Care, which includes the Animal Nutrition business line. Biosolutions such as probiotics for animal gut health will strengthen the division’s biotechnology platform.

Evonik Vland Biotech (Shandong) Co., Ltd. will also engage in creating new gut health products. As part of the agreement, Evonik will distribute the joint venture’s portfolio outside of the Greater China Region. The joint venture allows Evonik to expand its gut health solutions by adding broader formulation elements to its global product portfolio.

The joint venture will combine the specific

Agro chems – Chemicals, Company News, World

After more than 200 trials in recent years in soybean, corn and other crops, Apresa was found to be highly effective against several key weeds including Amaranthus sp., Goosegrass, Sourgrass and many others

ADAMA Ltd, a leading global crop protection company, today announced the wider availability of Apresa, a pre-emergent pre-mix herbicide that delivers broad-spectrum weed control with up to 20 per cent higher efficacy compared to tank mixed solutions.

Containing two complementary modes of action at a high concentration, Apresa eliminates hard-to-control grass and broadleaf weeds while providing a strong residual effect for soybeans and other crops in a simple and safe application for pre-emergence uses.

The product uses ADAMA’s proprietary TOV oil dispersion formulation technology, which maximises the potential of its dual active ingredients.

“Our customers are always looking for ways to streamline their crop protection efforts, and Apresa enables that with its tough, concentrated power in an easy-to-use solution that is excellent for regenerative agriculture,” said Romeu Stanguerlin, SVP of Latin America at ADAMA. “This early season weed control enhances crop yield and quality, and eases harvest due to clean fields. In an innovative formulation, Apresa offers less UV degradation, better straw transposition, synergistic effect and crop safety.” 

After more than 200 trials in recent years in soybean, corn and other crops, Apresa was found to be highly effective against several key weeds including Amaranthus sp., Goosegrass, Sourgrass and many others. Its performance has been recognised by advisors, researchers, and farmers as an excellent tool for Weed Resistance Management (WRM) with a long-lasting effect, often season-long control.

After more than 200 trials in recent

Animal Health, Company News, Live Stock, Poultry, World

The high degree of homology with local strains makes MEFLUVAC™ H5 PLUS 8 the vaccine of choice

Kemin Industries will launch the MEFLUVAC H5 PLUS 8 vaccine in partnership with ilender in Latin America to assist in building immunity against the highly pathogenic Avian Influenza.

Kemin Biologics, the global veterinary vaccine division of Kemin, will debut the new vaccine in Peru at the event and roadshow starting on October 30 in the Peruvian cities of Lima, Trujillo and Chincha. At this event, policy and distribution stakeholders, along with customers from the poultry meat and layer industries, will gather to discuss vaccinology and risk management programs. The industry leaders will focus on the importance of addressing major pathogens that compromise animal performance and food security for the growing population.

“We are excited to introduce our technology and best practices to empower the poultry industry in Peru and Latin America to mitigate the growing threat of highly pathogenic Avian Influenza,” said Dr Ricardo Neto, Technical Service Manager, Kemin Biologics. “The high degree of homology with local strains makes MEFLUVAC™ H5 PLUS 8 the vaccine of choice.”

The high degree of homology with local

Company News, E-commerce, Finance, India, Start ups

The funds will be used to scale up BharatAgri’s e-commerce platform to cater to new geographies and strengthen its last-mile delivery.

BharatAgri, an advisory-led e-commerce platform for farmers, announced that the company has raised Series A funding of Rs 35 crore ($4.3 million) led by Arkam Ventures, an early-stage venture fund dedicated to ‘Middle-India’ startups. The round also saw participation from Capria Ventures, and the existing investors, India Quotient, 021 Capital, and Omnivore.

The funds will be used to scale up BharatAgri’s e-commerce platform to cater to new geographies and strengthen its last-mile delivery. Rahul Chandra, Managing Director of Arkam Ventures, will join the board of BharatAgri.

Founded by IIT-Madras alumni Siddharth Dialani and Sai Gole, BharatAgri uses smart farming advisory to help farmers identify and order the best input specific to their needs. The company has built prediction algorithms that provide advisory customised to crops, region and climatic changes. BharatAgri’s e-commerce platform offers 10,000-plus agricultural products such as fertilisers, seeds, pesticides, insecticides, and farming equipment, among others, and is delivered pan-India across 20,000-plus pin codes.

Dialani said, “In the next three years, 50 million-plus farmers will use the internet for the first time, and we want BharatAgri to be their bridge to the digital era of agri that is now dawning. With 10 lakh-plus unique monthly users, 10,000-plus SKUs, 100-plus marketplace partners, and 20,000-plus serviceable pin codes, BharatAgri is making a significant impact on farmers’ lives. With this investment, BharatAgri aims to further strengthen its rural supply chain, expand the user base and become the largest and the de facto e-commerce platform for farmers.”

 BharatAgri has conducted extensive weather experiments for four years at ICAR, Hyderabad, and collected parameters to build the prediction algorithm to offer personalised and dynamic crop calendars for farmers, satellite-based monitoring, and soil and water testing services, mentioned the company in statement.

Rahul Chandra, MD of Arkam Ventures, said “Agri inputs is a $44-billion market in India and suffers from stockouts, misinformation and non-scientific usage. The Indian farmer is now seeking digital information and concerned with farm yields, crop as well as personal safety and household wealth”

Chandra also added that the rural infrastructure in India is rapidly modernising with the last mile touching more and more villages, and farmers are increasingly trusting digital knowledge sources. The credible advice from BharatAgri helps bridge the trust deficit that accompanies input purchasing and promises to open a digital channel for thousands of new products and brands that farmers seek to buy.

The funds will be used to scale

Company News, R&D, World

This partnership extends the technology beyond healthcare and into agricultural applications

Alveo Technologies, Inc. announced a collaboration with Corteva Agriscience to expand the offering of its novel eco-friendly molecular sensing and disease diagnostics technology to include a first-in-field agricultural disease diagnostic.

Alveo has developed a rapid, handheld, portable medical-grade platform that pairs advanced molecular assays with cloud-enabled data analytics for real-time disease, pathogen analysis, and diagnosis. Using this highly sensitive multiplexed molecular testing platform, Corteva scientists aim to design crop-specific assays to detect pathogens in the field.

“Alveo has developed a game-changing, mobile ‘molecular lab’ that can deliver highly sensitive and specific diagnostic testing where it is needed, which can help solve some of the world’s most complex problems, like pandemics and global food crises,” said Shaun Holt, Alveo CEO. “Our collaboration with Corteva reflects our core focus of taking molecular testing out of the lab and directly to the point of need where it can deliver insight and guidance. This partnership extends the technology beyond healthcare and into agricultural applications.”

“Corteva Agriscience explores the latest technologies as we strive to bring actionable insights and solutions to farmers where and when they need them,” said Gina Zastrow-Hayes, Technical Director, Seed, R&D & Biotechnology, Corteva. “We are pleased to explore this feasibility with Alveo and are excited by the potential that in-field molecular testing platforms hold for the agricultural industry.”

This partnership extends the technology beyond healthcare

Animal Health, India, R&D

This partnership aims to replace traditional chemical processes in veterinary active ingredient production with a sustainable biological method

Ginkgo Bioworks, which is building the leading platform for cell programming and biosecurity, and Zenfold Sustainable Technologies, a company focused on developing and manufacturing speciality ingredients using sustainable technologies and precision fermentation, announced a collaboration to leverage Ginkgo Enzyme Services in its effort to discover an enzyme critical to the manufacturing of veterinary products. This partnership aims to replace traditional chemical processes in veterinary active ingredient production with a sustainable biological method.

“This collaboration marks a significant step forward in Zenfold’s mission to bring sustainable manufacturing technology to the veterinary medicine industry,” said Dr. BSV Prasad, CEO and Managing Director of Zenfold Sustainable Technologies. “By utilising Ginkgo’s expertise and innovation, we are well-positioned to develop a sustainable solution that will have a lasting impact on the Indian market and beyond.”

“We are excited to partner with Zenfold, which brings a powerful vision of sustainable biotechnology to veterinary active ingredient development. This collaboration will enable us to apply our state-of-the-art enzyme discovery module to enable more innovation in the veterinary medicine space,” said Jennifer Wipf, SVP, Head of Commercial, Cell Engineering at Ginkgo. “The project involves creating a broad library of cDNA candidates from a metagenomic collection of billions of enzyme sequences. That’s the kind of scale visionary projects like this need, and Ginkgo is committed to scaling up this solution for the betterment of animal health and the environment.”

This partnership aims to replace traditional chemical

Agro Universities, Agrotech, Finance

The IRRI-PhilRice-PCIC tripartite partnership will bring innovative crop insurance products to improve the resilience of Filipino farmers to climatic risks.

The International Rice Research Institute (IRRI), the Philippine Rice Research Institute (DA-PhilRice), and the Philippine Crop Insurance Corporation (PCIC) are collaborating on the development of an area-based yield index insurance for rice based on satellite data. This will help improve Filipino farmers’ resilience to climatic risks.

The memorandum of agreement was signed during the 6th International Rice Congress on 19 October 2023 at the Philippine International Convention Centre (PICC), Pasay City, Philippines.

This partnership builds upon an earlier collaboration between IRRI and PhilRice that developed and operationalized a satellite-based rice mapping and monitoring system called PRISM (Philippine Rice Information System). Operational since 2018, PRISM uses Synthetic Aperture Radar (SAR) satellite images and a smart detection system to map rice planting areas and planting dates. Using crop growth simulation modelling, it provides timely yield forecasts and end-of-season rice yields.

PRISM data will be used in designing and testing an Area-Based Yield (ARBY) index insurance for rice. ARBY is a type of crop insurance that provides coverage based on historical average yield of a specific geographic area, rather than individual farmer’s yields, to determine payouts in the event of crop losses.

“The fusion of satellite technology and advanced modelling is revolutionizing how we can insure rice crops. With timely insights into yield forecasts and end-of-season yields, satellite-based ARBY index insurance for rice can help simplify the much-needed coverage for smallholder farmers, paving the way for a more resilient and sustainable future for agriculture,” said Dr Ajay Kohli, Interim Director-General of IRRI.

The agreement seeks to help make crop insurance products available to some 2.4 million rice farmers in the Philippines who constantly have to face the risks of losing their yields due to calamities such as tropical cyclones, droughts, and floods. On average, the country experiences around 20 cyclones every year, with at least eight making landfalls. Climate change also poses a significant threat as it makes the impact of calamities like floods and droughts more severe.

“This partnership is a step toward making insurance protection available to Filipino farmers at a crucial time when we are facing severe weather challenges such as droughts and floods, intensified by climate change. We welcome this collaboration as it aligns with our mission to improve the well-being of rice-farming communities in the country,” said Dr John de Leon, Executive Director of PhilRice.

“At PCIC, we appreciate these innovative solutions that can bring about greater efficiencies in our operations compared to the traditional indemnity-based crop insurance model which involves manual visits and verifications for each claim. By leveraging modern technologies, we can provide better insurance products and services to farmers,” said Atty. Jovy Bernabe, President of PCIC.

This collaboration is supported by the CGIAR initiative on Climate Resilience (ClimBeR) which aims to transform the climate adaptation capacity and increase the resilience of smallholder production systems to withstand severe climate change effects in six countries including the Philippines.

The IRRI-PhilRice-PCIC tripartite partnership will bring innovative

Agro chems – Chemicals, AgroPolicy, India

After ten years, IFFCO’s Nano Urea and Nano DAP will find a place in the list of biggest experiments done in the agricultural sector

Amit Shah, Union Home Minister and Minister of Cooperation inaugurated IFFCO’s Nano DAP (Liquid) Plant at Kalol in Gandhinagar, Gujarat. Union Minister of Health & Family Welfare and Chemicals & Fertilisers, Mansukh Mandaviya and many other dignitaries were present on this occasion.

Amit Shah said that today is a very important day for the entire Western India including Gujarat as IFFCO’s Nano DAP (Liquid) plant has been inaugurated at Kalol in Gandhinagar district. Minister of Cooperation, while congratulating the IFFCO team for taking India first in the world in Nano Urea and Nano DAP, said that India is an agricultural country blessed with large and fertile cultivable land and climate suitable for three to four crops, a combination not to be found anywhere else in the world. He said that India is the only country where in the last 75 years we have developed such a system that farmers can do farming every month.

Union Minister of Cooperation said that it is the responsibility of the cooperative institutions of India to bridge the gap between the requirement and production of food grains in the country. He said that after ten years, when the list of biggest experiments done in the agricultural sector would be prepared, IFFCO’s Nano Urea and Nano DAP will find a place in it. Shah said that the need of the hour is to reduce the use of urea and move towards natural farming but at the same time, there is also a need to increase production. Shri Shah said that Nano Urea is sprayed not on the ground but on the plants and due to this, there is a zero possibility of destruction of natural elements or the earthworms present in the soil. If all the Primary Agricultural Credit Societies (PACS) use Nano Urea and Nano DAP in partnership with IFFCO then very soon our land will move towards natural farming.

He said that IFFCO has set up pan-India plants in a very modern manner. There can be no greater example of Make in India than this. IFFCO’s Kalol unit will produce about 42 lakh bottles of green technology-based Nano DAP which will definitely benefit the farmers. He said that 60 per cent of the people in our country are dependent on agriculture for earning a living and 60 per cent of the country’s land is suitable for agriculture, but for years both farmers and agriculture were ignored.

After ten years, IFFCO's Nano Urea and

Company News, India, Machinery - Pre-harvesting

The 5 different series come with compact designs and advanced emission control system that comply with advanced markets of the world.

International Tractors Limited (ITL), India ‘s leading tractor exporter, has launched 5 tractors with advanced world-class technology and emissions control system to deliver greater agricultural efficiency around the world. The new range of tractors includes its electric models such as Solis SV Series, S Series, C Series, H Series and N Series. ITL has invested Rs 150 crore ($1.5 billion) in R&D to launch the new series of tractors.

The launch has been organized aligning with ITL’s global conference “Global Partner Summit (GPS) 200” in India. Forging ahead in the global tractor industry, ITL is combining European style and Japanese quality with Indian manufacturing costs. Further, ITL aims to penetrate into newer segments in geographies like Europe, USA, Africa & South America markets.

Gaurav Saxena, Director and CEO, International Business at ITL, said, “We believe in global commitment towards the agricultural community that transcends borders. We have been the No. 1 exporting brand of India for the last 4 years and we maintain the 1st position in more than 15 countries in the target segment. This new series of five tractors will allow us to strengthen our position in global markets with the support of our large network of more than 3,000 dealers.”

The company manufactures tractors under two brand names – Sonalika and Solis. The 5 different series come with compact designs and advanced emission control system that comply with advanced markets of the world such as US and Europe to meet varied customer requirements:

N SERIES – Ideal for Orchards and Vineyards

C SERIES – Powered by Stage V Engine for durability and effortless performance

S SERIES – 16HP to 125HP caters to Hobby Farming to the Toughest Farming Applications

SV SERIES – Robust electric motor to generate impressive torque and power while remaining environmentally friendly, producing zero emissions

H SERIES – Operational comfort and unparalleled ease with Hydrostatic Automatic Transmission

While Series H, Series S, and Solis SV models are launched globally, Series C will be available for European markets and Series N will cater to markets including Europe, USA, Africa and South America Regions.  ITL is also the third largest tractor manufacturer in India and stands among the top 5 tractor manufacturers globally.

The 5 different series come with compact

Agro chems – Fertilizers, Company News, Europe, Finance

 Company’s EBITDA is down 62 per cent due to reduced margins.

Oslo based Yara International announced Third -quarter results of 2023.  Third-quarter EBITDA excl. special items1 was USD 396 million, compared with USD 1,001 million a year earlier. Net income was USD 2 million (USD 0 per share) compared with USD 402 million (USD 1.57 per share) in third quarter 2023.

The main elements of the third-quarter results are:

  • EBITDA down 62 per cent due to reduced margins
  • Operating cash flow of 1 BUSD primarily due to operating capital release
  • European nitrate price negatively impacted by long order book at start of 3Q
  • Supportive fundamentals for full season but uncertain phasing of deliveries

“Third-quarter results are impacted by strong price declines compared to last year, as the nitrogen industry continues to operate in a lower margin environment. Although agricultural fundamentals are supportive, nitrogen markets remain sensitive to geopolitical and commodity market volatility,” said Svein Tore Holsether, President and Chief Executive Officer at Yara.

“War, geopolitical instability, and the climate crisis are having major impacts on food security. It is therefore even more important to safeguard Europe’s strategic autonomy in within food and fertilizer, and to accelerate the green transition of European agriculture and industry,” said Holsether.

Nitrogen markets saw significant volatility in the third quarter, with the start of the new northern hemisphere season. The quarter began with swift nitrogen price responses to positive market news, with both improved demand and tighter supply. Demand softened in the mid-quarter as urea prices declined and European customers were reluctant to take further positions early in the new season.

Although the season for the European nitrogen industry is off to a slower start than in previous years, fundamentals for the full season are supportive. Agricultural conditions are favourable, and industry consultants forecast increased cereal production in 2023/24, despite drought in several regions earlier this year. Although fertilizer affordability reduced during the quarter, it is still above historical averages, and optimal application rates are up compared to the 22/23 season. However, as normal at this stage of the season, phasing of deliveries is uncertain and there is risk of new nitrogen curtailments if slow European demand continues. The energy transition, climate crisis and food security are top priorities globally. With its leading food solutions and ammonia positions, Yara is uniquely positioned to drive these transformations.

 Company’s EBITDA is down 62 per cent

Company News, India, Interaction, Supply Chain, Warehousing

The event delivered a comprehensive overview of the agribusiness sector, offering attendees key insights to navigate the industry’s domestic and international complexities.

Star Agriwarehousing & Collateral Management Limited, India’s leading agritech integrated solutions company, successfully hosted the “Global & Domestic Agri-Business Outlook Seminar” in Chennai and Hyderabad. The event convened industry professionals, particularly processors and traders in South India’s agricultural heartland, providing valuable insights into the dynamic landscape of global and domestic agribusiness.

The seminar featured a distinguished panel discussion with industry luminaries, including A. Ilavarasu, CMD, S.A Anandan Spinning Mills; Krishna Murthy B, MD, Four P International Pvt Ltd;  Padmasingh Isaac, MD, Aachi Group of Companies; R. Raghuram, COO, Rajshree Sugars & Chemicals Ltd; Mr. Thyagarajan Karthikeyan, MD, Value Ingredients Pvt. Ltd;  J. Karthikeyan, Director, Vellore Roller Flour Mills (P) Ltd. and  K Mahalingam, VP – Commercial, Sakthi Sugars ltd. Soya Division in Chennai

In addition, P R Rao, Head & Advisor, Procurement at Senthini Group; Mitesh Gupta, MD of Shivtara Grain Milling Pvt Ltd.; Mr. Dhiraj Khaitan, MD of Salasar Balaji Agrotech; Pamidi V Prasad Babu, CEO of NSL Sugars; Raj Seelam, MD of Sresta Natural Bioproducts Pvt Ltd; and Priyen Bhimani, COO of Shree Gajanan Industries participated in the seminar in Hyderabad. The discussions were moderated by Mr. G Chandrashekar, Independent Director at StarAgri, a renowned expert in the Indian agricultural sector.

The agricultural industry plays a pivotal role in India’s economy, and the “Global & Domestic Agri-Business Outlook Seminar” was designed to address the challenges and opportunities that lie ahead in the commodities market. The event delivered a comprehensive overview of the agribusiness sector, offering attendees key insights to navigate the industry’s domestic and international complexities.

 G Chandrashekar, Independent Director at StarAgri, said, “With the current fragile geo-political situation, global trade, especially in the agri-commodity space, needs to be handled with more real-time information to avoid undue volatility and risks. The ‘Global & Domestic Agri-Business Outlook Seminar’ offers a valuable platform for stakeholders to gain insights, share knowledge, and chart a course for the future of Indian agribusiness.”

The seminar provided attendees with a holistic understanding of the agribusiness industry, enabling them to adopt more innovative and sustainable practices in Indian agriculture by fostering discussions among industry experts.

The event delivered a comprehensive overview of

Animal Health, Company News, Live Stock, World

Insect meal Entomeal and insect oil Entolipid are produced with EU industrial standards and fully compliant with EU regulations to be used in animal feed applications

Veolia Bioconversion Malaysia Sdn Bhd has received approval from the Ministry of Agriculture in Malaysia to export Entomeal, insect meal and Entolipid, insect oil into the European markets for use in pet food, aquaculture and livestock.

Insect meal Entomeal and insect oil Entolipid are produced with EU industrial standards and fully compliant with EU regulations to be used in animal feed applications. TRACES ensures the safety and full traceability from feedstock to finished products of our production. We aim to provide our clients with high product quality and consistent supply to meet the rising European market demands,” said company representatives.

Entomeal and Entolipid are produced in optimal conditions in the region thanks to the local industrial know-how of Veolia Bioconversion Malaysia Sdn Bhd. The insect-based bioconversion consists of the transformation by Black Soldier Fly larvae of agrifood industrial by-products into highly valuable products: insect protein meal, insect oil and organic fertiliser. Everything produced by the bioconversion process can be used in agriculture, green energy production and animal feed.

Veolia Bioconversion Malaysia Sdn Bhd operates one of the largest insect industrial facilities in Asia. The facility adheres to the highest industrial standards with ISO 22000, GMP and HACCP certification and meets the most stringent regulation requirements. The company has a production capacity of 3,000 tonnes of insect products per year and is thus a solid and stable partner to work with.

Fabrice Latchoumanin, General Manager, Veolia Bioconversion Malaysia, commented, “There is an increasing requirement for sustainable, and functional ingredients in the pet food and the aqua feed industry. Insect-based feed offers many benefits for these applications such as high digestibility and nutritious feed source. We are thrilled to provide a sustainable alternative source of protein to the European market.”

Insect meal Entomeal and insect oil Entolipid

Company News, People, World

With Zacka’s appointment, the Board has expanded from 11 to 12 members, five of whom are independent

Nouryon, a global speciality chemicals leader, announced the appointment of Michael Zacka to the Company’s Board of Directors, effective October 23, 2023. With  Zacka’s appointment, the Board has expanded from 11 to 12 members, five of whom are independent.

“We are pleased to welcome a highly experienced global executive of Michael’s calibre to our Board,” said Charlie Shaver, Nouryon Chairman and CEO. “His appointment reflects our commitment to bringing the right mix of skills and expertise to our Board to guide Nouryon’s long-term strategy and drive growth.”

Michael Zacka is President, of Flexibles Europe, Middle East & Africa for Amcor plc, a global leader in developing and producing responsible packaging solutions. Zacka joined Amcor in July 2017 as Chief Commercial Officer, and from November 2017 to July 2019, he assumed additional responsibility as President of Amcor’s Flexible Packaging business in Asia Pacific. Prior to Amcor, he was a member of the Tetra Pak Global Leadership Team and was the President of Asia based in Singapore. He was also the President of their North American business, and had senior assignments including Global Senior Vice President of Sales, Marketing and Product Management, and led the Tetra Pak businesses across Greater China, Vietnam, and Australia.

Zacka’s appointment to the Nouryon Board as an independent Director follows that of Melanie Steiner, Julie Aslaksen and Curtis Espeland in 2021, and Noelle Walsh in 2020. 

With Zacka’s appointment, the Board has expanded

Finance, India, Start ups

Company plans to enable 10,000 farmer loans and 400 enterprise loans in the next one year.

Agri-fintech start-up KiVi, operated by Agrosperity Tech Solutions Pvt Ltd, has announced that it has raised Rs 15 crore in a seed round from investors led by Caspian Leap for Agriculture Fund, Piper Serica Angel Fund, YAN Angel Fund, Impact Innovators and Entrepreneurs Foundation, among others.

The IIT-Madras Research Park incubated firm, which started in April 2022, plans to utilise the fund to build an AUM of Rs 70 crore over the next 12 months, up from a little over Rs 5 crore now. It is also planning to obtain an NBFC license, a move that may help it forge co-lending pacts with banks and other lenders. It plans to enable 10,000 farmer loans and 400 enterprise loans in the next one year.

The start-up has already onboarded about 3,700 farmers from Tamil Nadu and Bihar and enabled disbursements of Rs 6.5 crore worth of loans to more than 2,000 farmers. The company has five lending partners, including Federal Bank, EASF Small Finance Bank, and Samunnati.

The start-up was established to serve the farmgate ecosystem comprising farmer households and agri entrepreneurs such as input retailers, output aggregators, farmer producer organisations, and equipment renters. KiVi connects suppliers and consumers of capital suppliers, and buyers of agri commodities.

“While the farmgate ecosystem presents a huge market opportunity for credit and commerce, it has been under-served by the formal markets due to a lack of solutions that serve the needs of the stakeholders,” Joby CO, Founder & CEO of KiVi, said.

“Microfinance loans are not suitable for farmers and agri entrepreneurs, while farmers and agri entrepreneurs did not have market linkage services to effectively sell their output at the farmgate. On the supply side, financial institutions are keen to lend to the agri sector but do not have the capability to lend to the sector. KiVi platform is addressing these gaps,” he added.

Supported by its last mile capability, KiVi takes into account seasonal cash flows, the absence of formal income proof and land ownership proof, and fragmented landholding to design loan and repayment solutions for rural farmers and agri entrepreneurs.

Company plans to enable 10,000 farmer loans