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HomePosts Tagged "Debarshi Dutta"
Agribusiness, Company News, Finance, India, Start ups

 Company’s Gross margin increased substantially from Rs 19 Crore to Rs 45.10 Crore in FY23-24, marking a compound annual growth rate (CAGR) of 379 per cent from Rs 3.13 Crore in FY 2021-22.

 Ayekart, an agri and food supply chain platform focused on empowering businesses and supporting communities with technology, embedded finance, and value-added services—particularly for FPOs and MSMEs—has announced its robust financial results for FY 2023-24. Since its inception in December 2020, the company has processed over six lakh transactions, onboarded more than 40,000 merchants, and operated in over 220 pin codes across 19 states.

The company’s audited financial performance approved by the board highlights its significant growth, as demonstrated by its strong financials. Gross margin increased substantially from Rs 19 Crore to Rs 45.10 Cr in FY23-24, marking a compound annual growth rate (CAGR) of 379 per cent from Rs 3.13 Crore in FY 2021-22. In FY 2023-24, EBITDA surged to Rs 17.64 Crore, up from Rs 5.97 Cr in FY 2022-23 and Rs 1.02 Crore in FY 2021-22, indicating a CAGR of 415 per cent. Profit Before Tax (PBT) rose from Rs 0.18 Crore in FY 2022-23 to Rs 1.49 Crore in FY 2023-24, while Profit After Tax (PAT) increased from Rs 0.08 Crore in FY 2022-23 to Rs 1.17 Crore in FY 2023-24. The Gross Transaction Value (GTV) for FY 2023-24 reached Rs 1,558 Crore, up from Rs 657 Cr in FY 2022-23.

In the past six months, Ayekart raised Rs 54 Crore in equity, including Rs 45 Crore in primary funding and Rs 9 Crore in secondary funding from venture capital, bolstering its expansion initiatives.

Debarshi Dutta, Co-Founder & CEO, stated, “Our remarkable growth reflects our strong commitment to leveraging technology and forming strategic partnerships that empower businesses across the food and agri value chain. At Ayekart, we provide comprehensive support in capacity-building for farmers and FPOs while creating both backward and forward linkages for manufacturers and processors to enhance market access and operational efficiency. Through our platform, we are focusing on building a robust distribution and retail network to reach the last mile. This integrated approach drives productivity, fosters sustainable growth, and significantly impacts lives and livelihoods.”

 Company’s Gross margin increased substantially from Rs

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

Company News, India, People, Supply Chain

In his new role, Rajesh will lead initiatives aimed at driving scale and impact at Ayekart.

Ayekart, India’s first integrated supply chain platform that addresses the needs of the food and agri value chain, is proud to announce the appointment of Rajesh Jain as the company’s new President for Partnerships and Programs. With over three decades of expertise in developing and implementing large-scale projects across various sectors, Rajesh’s vast experience, strategic insights, and commitment to technological advancements will be pivotal in furthering Ayekart’s mission to revolutionize the agri-tech industry.

In his new role, Rajesh will lead initiatives aimed at driving scale and impact at Ayekart. He will enhance the scope and engagement with both new and existing partners, develop and implement impactful programs to achieve shared goals and establish effective communication channels to nurture productive and mutually beneficial relationships. Additionally, he will oversee all activities aimed at strengthening these connections in alignment with Ayekart’s overarching objectives and strategic goals. This will ultimately lead to a more inclusive digital empowerment journey for the rural community within Ayekart’s purview. Ayekart is currently experiencing improved inclusion of the rural community in its digital empowerment efforts.

Rajesh earned his M.Sc. in Applied Geology from IIT, Roorkee (1986-1988) and specialized training in Financing Agricultural Value Chains at KIIT-University, Bhubaneswar, in collaboration with FAO (Italy) in 2012-2013.He has over 30 years of diverse professional experience spanning not-for-profits, consulting firms, corporate foundations, institutes, and government roles. During his extensive career, he spent 15 years in government, gaining profound insights into social issues at both macro and micro levels in urban and rural communities. His expertise in leveraging Artificial Intelligence for Social Good offers a global perspective on technology’s potential for creating rapid, large-scale impacts and promoting development, further enhanced by his holistic 360-degree view of development models during his tenure at Swades Foundation. He also led the FPO movement in Rajasthan at ACCESS Development Services and was the state coordinator for SFAC.

Debarshi Dutta, Co-founder and CEO of Ayekart remarked, “We are pleased to welcome Rajesh to the Ayekart family. His extensive experience and industry insights will be a valuable asset as we persist in transforming the food and agriculture value chain. Rajesh’s deep understanding of technology’s transformative potential and his unwavering commitment to social impact align seamlessly with Ayekart’s vision of empowering businesses and enriching communities.”

Expressing his commitment to his new position, Rajesh Jain said, “I am truly excited to join Ayekart and be a part of this dynamic team. Ayekart’s commitment to innovation and positive social impact aligns with my passion for harnessing technology to create meaningful change. I look forward to contributing to Ayekart’s journey in revolutionizing the food and agriculture value chain.”

In his new role, Rajesh will lead

Company News, Finance, India, Vegetables

With this investment, Ayekart will be able to tap into the extensive network of farmers and other stakeholders in the Indian vegetable market.

Ayekart Fintech, a leading digital technology platform for the food and agriculture value chain, has announced a minority investment in Nature’s Fresh Express, a pioneer in producing and supplying exotic vegetables. The move aims to strengthen Ayekart’s product portfolio and expand its retail offerings while supporting the growth of Nature’s Fresh Express.

This investment marks a significant milestone in Ayekart’s growth strategy and demonstrates the company’s commitment to advancing innovative businesses that are transforming India’s agricultural sector. With this investment, Ayekart will be able to tap into the extensive network of farmers and other stakeholders in the Indian vegetable market, providing the platform with the necessary resources to compete effectively in this space.

Commenting on the announcement, Debarshi Dutta, CEO & Co-founder of Ayekart, said, “We are excited to partner with Nature’s Fresh Express and support their growth. With its expertise in producing and supplying exotic vegetables, Nature’s Fresh Express has the potential to transform the vegetable market in India, and we are pleased to be part of this journey. Ayekart looks forward to accelerating its growth and enhancing its reputation as a leading provider of digital solutions for traditional businesses and the agricultural value chain.”

The latest investment positions Ayekart well to become a leader in the Agri-fintech market in India. As traditional businesses in India continue to adopt digital technologies and automate their processes, there is an increasing demand for homegrown exotic vegetables and fruits. Agri-tech companies in India have a tremendous opportunity to capture this growing demand by creating products that address the specific needs of Indian consumers.

Sameer Mulani, Founder of Nature’s Fresh Express, added, “We are delighted to have Ayekart as our investor and partner in this venture. Their extensive experience and in-house technology solutions will be invaluable as we work towards scaling up the exotic vegetable market.”

Nature’s Fresh Express is a Pune-based company specializing in growing various exotic vegetables. The company was founded in 2005, and its operations are based on organized farming across pan-India by associating farmers with their produce. Nature’s Fresh Express has partnered with more than 1000 farmers to date, and its customers include Godrej Nature Basket, CCI, Pizza Hut, Tacobel, Subway, TFS KFC, BOX8, Haiko Supermarket, and many more. With its network spanning five states—Maharashtra, Gujarat, Goa, MP, and Kolkata—the company is rapidly expanding and will soon establish its presence in Bangladesh and Sri Lanka.

With this investment, Ayekart will be able