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HomePosts Tagged "Agri-Tech platform"
Agribusiness, Company News, Finance, India, Start ups

 Company projects an additional Rs 16 crore in revenue from drone spraying services and input sales during the upcoming Kharif season.

Salam Kisan, a pioneering agri-tech platform, has recorded a remarkable 11X growth in revenue for the fiscal year 2023-2024, reaching an impressive total of Rs 23.61 crore. This exponential growth showcases the company’s success in leveraging its operational efficiency in drones and technological capabilities to boost overall sales and profitability.

Salam Kisan projects an additional Rs 16 crore in revenue from drone spraying services and input sales during the upcoming Kharif season, driven by farmers’ increasing adoption of its application. The company has been bootstrapped with positive EBITDA since its inception, and Salam Kisan is expecting to raise its first round of investment to expand its business with drones and increase market penetration.

Offering services across 35 districts in Maharashtra, Salam Kisan covered 41,000 acres in drone spraying that generated a revenue of Rs 2.41 crore. The success of their drone services and real-time crop calendar with agri-input recommendations has boosted Salam Kisan’s agri-input sales, which recorded a significant Rs 5.41 crore. Additionally, the company’s buyback program for farmers using the Salam Kisan platform and services throughout the agricultural cycle offered linkages worth Rs 15.225 crore in FY 23-24. By onboarding over 80 FPOs, Salam Kisan makes their advanced agricultural technology accessible to a wider spectrum of farmers.

Salam Kisan is a multi-stack precision farming platform that helps farmers in making informed decisions. They provide an array of services that leverage technology and data insights to empower modern farming practices. These services include an AI-enabled crop calendar for tailored crop management, precision agriculture guidance, customized fertilizer dosage recommendations, drone rental for fertilizer and seed spraying, farm mapping, input product marketplace, farmers community, government convergence, agriculture news, traceability solutions, and guaranteed output procurement.

Over the past year and Q1 24-25, Salam Kisan, under its parent company PRYM Group, has invested Rs 9.1 crore in developing agricultural drones and precision farming software. These advancements enhance the company’s technological and operational capabilities, enabling farmers to use drones and advanced analytics to optimize crop yield and soil health. This investment significantly boosts farmers’ productivity and profitability. The company deployed over 50 drones and pilots in Maharashtra, saving at least 70 lakh liters of water through optimized drone-based spraying.

Dhanashree Mandhani, Founder & CEO of Salam Kisan, said, “Our exceptional growth and remarkable increase in revenue this fiscal year is a clear indication of our commitment to transforming the agricultural sector through innovation and technology. Our crop calendar, drone services, and precision farming tools have not only improved yields but have also redefined farming practices in India. Farmers using Salam Kisan have seen an incremental revenue of at least Rs 16,000 and a 30% cost saving each season. As we expand into Uttar Pradesh and Madhya Pradesh, we intend to aid more farmers across India with our advanced agritech solutions.”

 Company projects an additional Rs 16 crore

Agrotech, Company News, Finance, India, Start ups

Freshokartz will use this funding to grow its newly launched social commerce super App to reach 100k VLEs

Freshokartz has announced the launch of India’s pioneering social commerce super app, designed specifically for village-level entrepreneurs (VLEs), with the aim of providing entrepreneurship opportunities to aspiring micro-Agripreneurs in Rajasthan, MP and nearby states.

The company has successfully raised funding from prominent investors including RVCF, Real-Time Angel Fund, Nitish Mittersain, Founder and CEO of Nazara, Srivastava P, Founder and CEO of Servify, Marwari Catalyst, Siddharth Shah and others.

Rajendra Lora, Founder, and CEO of Freshokartz, stated, “We have analysed the rural economy and developed a completely tech-based solution. Having served in the Agri Input and Market Linkages services for a considerable period, we have observed recurring engagements with our farmers. The initial traction we have witnessed with our VLE Super App has been phenomenal, with VELs Considering it as the primary source of income. Our vision is to collaborate with over 500,000 VLEs in the next 4-5 years, reaching more than 5 million farmers.”

Currently, the company collaborates with more than 15,000 VLEs in Rajasthan, Madhya Pradesh, and nearby states, connecting with over 500,000 farmers. Freshokartz boasts over 50 partners who collaborate to distribute their products to farmers through these VLEs. Remarkably, VLEs earn an average monthly income ranging from 5,000 to 15,000 INR, with the potential to earn up to 25,000 INR.

Freshokartz aims to onboard more than 100,000 VLEs, thereby serving over 1 million farmers by March 31, 2024. The company is experiencing rapid growth, with the number of VLEs and farmers increasing 2-3 times every month.

Nitish Mittersain Founder and CEO of Nazara Tech said, “Founder’s Farming and technology background make them unique to solve farmers problem. Only technology can help in building a scalable model and Freshokartz’s current traction clearly shows that they are growing in the right direction with multiple Agri Related services in a single platform.”

Additionally, Freshokartz is forging partnerships with various organisations, including UPL, BASF, Axis Bank, BankSathi, ICICI Lombard, Balwan, JCB, Jain Irrigations, GrowIT, Shakti Pumps, Solskean Energy, and others. These collaborations aim to offer a comprehensive platform that addresses all the needs of farmers, ranging from soil testing, Agri products, banking and financial services, cattle feed and care, crop advisory, and more.

Freshokartz will use this funding to grow