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HomePosts Tagged "Co-Founder & CEO of Ayekart"
Agrotech, Collaborations, Company News, Digital Technologies, India, Start ups

FPOs can use Ayekrishi for market linkage and to access supplier networks.

Ayekart, a leading agrifood fintech platform, has announced a strategic partnership with Grameen Foundation India. This collaboration aims to extend Ayekart’s Ayekrishi platform (PaaS) along with the market linkage services with embedded finance to Farmer Producer Organisations (FPOs) connected with Grameen Foundation in India, bolstering financial inclusion and enabling marginalized communities, mainly focusing on women. Ayekart, India’s foremost integrated tech platform in the food and agri value chain, is driving a transformation within the segment by unveiling a range of groundbreaking solutions.

Central to this transformation is Ayekrishi, the FPO management tool that is a beacon of efficiency, simplifying business processes and enhancing operational efficacy. FPOs can use Ayekrishi for market linkage and to access supplier networks. The platform includes planning features to aid FPOs in organizing their operations effectively and provides advisory suggestions to support FPOs in decision-making and strategy development.

The primary purpose of the collaboration between Ayekart and the Grameen Foundation in India is to integrate Ayekrishi for the market linkage activities and FPO management promoted by the Grameen. This collaboration will benefit the FPOs significantly, including access to different marketable commodities and support in the procurement & selling of produce based on demand and supply conditions. Grameen supports these efforts, aligning with its mission of linking farmers/FPOs with remunerative markets, the foundation’s involvement will ensure the FPOs have the necessary support and resources to leverage the Ayekrishi platform effectively.

Debarshi Dutta, Co-Founder & CEO of Ayekart, said: “Ayekart’s journey is rooted in our commitment to fuelling progress in the food and agri value chain. We are thrilled to partner with the Grameen Foundation India to extend our Ayekrishi services. This collaboration is a significant step towards enhancing the financial inclusion of the market reach of FPOs/Farmers. Together, we aim to create sustainable livelihoods and empower FPOs/ farmers and the MSMEs by leveraging digital technology.”

Bharati Joshi, Interim CEO of Grameen, said, “Joining hands with Ayekart allows us to further our mission of eradicating poverty and hunger by enabling the poor, especially women. We recognize the catalytic role of technology in bridging the gap between farmers and entrepreneurs on the one hand and the market (including technical service providers on the other). We are happy to find an institutional partner like Ayekart which is ready to put purpose before profits. We envisage Ayekrishi’s innovative solutions will help us deepen our impact in agriculture and livelihoods, fostering resilience and sustainable growth in the communities we serve.”

FPOs can use Ayekrishi for market linkage

Agribusiness, Company News, Finance, Funding, India, Start ups

The company plans to utilise the investment to enhance its technological capabilities and extend its operations nationwide.

Ayekart, a leading agrifood fintech platform, has raised USD 6.5 Million (Rs 53 Crore) in a Series A round led by Omnivore, Siana Capital and Unleash Capital. With this capital infusion, Ayekart aims to expand its operations nationwide and cater to a larger audience of FPOs (Farmer Producer Organizations), food manufacturers, distributors, and retailers.

Founded in December 2020, Ayekart launched its commercial operations in September 2021 with a team of six and has since expanded into a team of over 150 members across six locations. The startup provides fintech and supply chain solutions for traditional businesses in the agrifood value chain, boosting efficiency and convenience while preserving trust within the ecosystem. Ayekart today operates in 18 states, has over 9,000 active merchants on its platform, and has successfully facilitated more than 2.5 lakh transactions with over INR 21 billion lifetime GTV (Gross Traded Value). Moreover, Ayekart has been consistently profitable since inception, setting it apart from other agritech companies.

Debarshi Dutta, Co-Founder & CEO of Ayekart, stated, “Since the inception, our unwavering commitment to positively impact the lives of smallholder farmers, Farmer Producer Organizations (FPOs), and agrifood MSMEs across India has been the cornerstone of our journey. We understand the critical pain points that agrifood MSMEs face- the need for market linkages, access to finance, and an efficient technology ecosystem to enhance their businesses. To address these challenges, we have developed innovative fintech solutions tailored to empower FPOs and agrifood MSMEs. Ayekart is not just addressing gaps in the value chain but also driving meaningful change that empowers agrifood MSMEs and fosters sustainable growth across the value chain.”

Commenting on the round, Jinesh Shah, Managing Partner at Omnivore, said, “We are pleased to support Ayekart’s efforts in improving farmers’ lives and providing financial stability. Ayekart’s focus on empowering agrifood MSMEs with its cutting-edge technological approach resonates deeply with our investment philosophy. We are confident that this capital infusion will propel Ayekart’s advancement, stimulating noteworthy progress in both the agricultural and supply chain spheres.”

Sohil Shah, Founder & Partner at UNLEASH Capital Partners, stated, “We are proud to be part of Ayekart’s Series A funding, helping to leverage technology for enhanced financial solutions in the B2B supply chain. This investment is an important long-term step in helping Ayekart fulfill its mission to strengthen its market position and continue delivering value to its stakeholders and customers.”

Unitus Capital was the exclusive financial advisor to the company for the transaction.

The company plans to utilise the investment