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HomePosts Tagged "funding" (Page 4)
Finance, India, Start ups

IBISA is scaling its operations in India with operations in Odisha, Karnataka, Telangana for coverage against excess rainfall, excess wind speed and drought.

 Agri insurtech startup IBISA announced that Ankur Capital, an India-based leading early-stage venture capital fund focused on transformative technologies in deeptech and climate tech has joined its seed round. Luxembourg-based Insurtech startup IBISA is on a mission to empower the Agri value chain players with innovative weather protection insurance solutions.

The company is also in talks with a number of large lenders, food processors, and Agritech clients across different geographies to mitigate their credit risk against default, reduce their supply chain risks and increase their sustainability practices in agriculture and strengthen farmer connection with smallholder farmers in India and abroad.

Founded in 2019, IBISA started its operations in India with the DHAN Foundation to provide parametric insurance against drought coverage in Tamil Nadu. Fast forward to now, IBISA is scaling its operations in India with operations in Odisha, Karnataka, Telangana for coverage against excess rainfall, excess wind speed and drought. They have also opened a registered office in Feb 2022 in Bengaluru.

Speaking on the investment, Ritu Verma, Partner at Ankur Capital mentioned, “The unavailability of data has hampered the growth of the agricultural insurance industry in developing countries for decades. Legacy crop insurance involved long manual processes making them impractical for developing markets where smallholder farming is the norm, and parametric insurance has historically been unviable due to the lack of detailed climate-related datasets. We are excited to partner with IBISA to transform the scale of available parametric insurance options in countries like India with a vast addressable market.”

“Farming is an integral part of both our societal and economic infrastructure. The impact that the war in Ukraine is having on food prices and food security seriously underscores the importance of global agriculture. And yet the support isn’t there. With IBISA, we sought to create technology that would help reduce costs for the active players in the insurance space. Finding a way to responsibly protect farmers in the event of extreme weather, by slashing distribution and operating costs, making it affordable to many groups in the value chain.” said Maria Mateo Iborra, CEO & Co-founder, IBISA.

Apart from India, IBISA has its operations in New Zealand, Guatemala, Senegal, Philippines, and other African countries. With strong insurance and reinsurance partnerships across different geographies and tailor-made products for lack of rain, excess rainfall, extreme temperatures, excess wind speed and cyclones, IBISA is able to address the needs of various Agri value chain players.

IBISA is scaling its operations in India

Agrotech, Company News, Finance, India, Start ups

The round was led by DSG Consumer Partners and Alkemi Growth Capital alongside existing investors Omnivore, Insitor Partners, and other angel investors.

Farmley, a full-stack nuts & dry fruits brand, has raised USD 6 million in Series A funding. The round was led by DSG Consumer Partners and Alkemi Growth Capital alongside existing investors Omnivore, Insitor Partners, and other angel investors.

The startup was founded in 2017 by IIT graduates Akash Sharma and Abhishek Agarwal. Farmley has built deep backend linkages over the years with domestic as well as international farming communities to source the highest quality of nuts and dry fruits. With deep customer insights and years of R&D, it has also developed 5 unique processing units in India. This has enabled Farmley to produce premium quality nuts and dry fruits, and to provide them at accessible price points to its consumers. The company has raised a prior seed round of USD 2 million in 2020 from Omnivore and Insitor.

In the last 18 months, Farmley has scaled its revenues by 10x to become one of the leading players in this category. They have omnichannel distribution, and their products are available on all leading e-commerce and quick commerce platforms alongside retail stores across the top 20 Indian cities. They are also available in select international markets including the US, Middle East, and Australia. Farmley plans to utilize the funds for channel expansion, brand building, and team building.

Akash Sharma & Abhishek Agarwal, Co-founders of Farmley, said, “Farmley is a consumer-centric brand at heart. We are here to become a globally loved brand, born in India and being consumer-first in our approach is the only way to achieve it.”

Hariharan Premkumar, Head of India at DSG Consumer Partners, commented, “We are excited to partner with Akash and Abhishek on their mission to build India’s most loved dry fruits and nuts brand with the best quality products. This segment is large and the unorganized market makes up 95% of the market. The products from the unorganized market suffer from quality, hygiene, and adulteration issues. The full backward integration at Farmley ensures premium quality produce and innovative product launches such as India’s first makhana pasta. The company is on a strong growth trajectory and the founders have built a stellar team with laser-focus on customer pain points.”

Dr Mansi Aggarwal, Partner at Alkemi Growth Capital, observed, “ Farmley is one of the fastest-growing brands in this segment and the team at the helm has grown the company to an impressive scale while building a sustainable supply chain’’

The round was led by DSG Consumer

Agrotech, Company News, Finance, North America

The funding will be used to advance climate resilience in agriculture by accelerating product development.

 US based Arable, the leader in field intelligence for agriculture, announced that it has raised $40 million in series C financing. The company will use the new funding to advance climate resilience in agriculture by accelerating product development, delivering new services for customers and expanding its global footprint.

Arable received the very first investment from Tom Steyer and Katie Hall’s new climate investment platform, Galvanize Climate Solutions, which led the fundraising round. In connection with their investment, Saloni Multani, partner at Galvanize Climate Solutions, joined Arable’s board. The funding sees new participation from Qualcomm Ventures. Also joining the round are Arable’s existing investors, including Prelude Ventures, S2G Ventures, Ajax Strategies, Grupo Jacto, Middleland Capital, M2O and iSelect.

Arable’s unique approach to data-driven decision-making resonates with its customers, resulting in four times growth in annual recurring revenue each of the last two years. Arable’s users are drawn to the ability to monitor and respond to conditions in their fields in real time, with active users on Arable’s mobile app increasing by 200 percent in the last 12 months. To support this growth, Arable has doubled the size of its team in the last year and added offices in Sao Paulo, Brazil, and Bangalore, India.

Multani said, “Arable is at the cutting-edge of farm innovation with technologies that combine the next frontier of connected sensors and machine learning. We are excited to lead this investment round because the company’s technology aligns with our mission to scale vital and urgent climate solutions.”

Jim Ethington, CEO of Arable said, “In addition to being used on-farm for operational decisions, Arable also helps larger companies to see across their entire farm supply chain, enabling them to accurately benchmark sustainability, estimate carbon emissions and sequestration, and predict yield or timing.”

To ensure the highest level of data accuracy, Arable has created a unique calibration and validation network of 30 global research institutions on more than 50 sites across 15 different climate zones who partner to produce industry-leading models that continuously improve with time through machine learning.

The funding will be used to advance

Agro chems – Fertilizers, Company News, Finance

The recent funding includes investment from Ospraie Ag Sciences (OAS), Bunge Ventures, the for-profit, global investment arm of Bunge and UPL Ltd.

Phospholutions Inc., a leader in sustainable fertilizer technology, has announced additional investment from leading global agricultural companies to support commercialization of RhizoSorb® in the US row crop market. The recent funding includes investment from Ospraie Ag Sciences (OAS), Bunge Ventures, the for-profit, global investment arm of Bunge and UPL Ltd.

“RhizoSorb® is proven to deliver the same amount of phosphorus to the plant with half the amount of applied fertilizer,” said Founder and Chief Executive Officer, Hunter Swisher. “Conventional fertilizers are inefficient as less than 25 per cent of phosphorus is taken up by the crop during the growing season. With recent increases in fertilizer prices and supply constraints in key global markets, farmers urgently need proven solutions to help maximize the return on input costs. This investment helps accelerate our commercial launch by supporting this year’s commercial trial program, strategic development partnerships, and enables product to be delivered to the US row crop market for the 2023 growing season.”

Utilizing its extensive network and 25 years of experience investing in agriculture, OAS is positioned to help farmers achieve a sustainable future. Carl Casale from OAS commented, “RhizoSorb® technology aligns closely to our venture firm’s mission to do more with less. The technology promotes increased grower profitability and reduces environmental impact to contribute to a more sustainable future for farming.”

This new investment series announced follows the Series A totaling $10.3M announced early last year, which allowed Phospholutions to more than triple in size. At the time, the investments were led by Continental Grain Company with participation from Tekfen Ventures, Maumee Ventures, Ag Ventures Alliance, and 1855 Capital. Additionally, Phospholutions recently won a $250K investment during The Radicle Challenge by UPL.

The recent funding includes investment from Ospraie

Agrotech, Finance, Start ups

The startup will use the capital raised for its expansion to new markets and towards research and development to support more crops.

IAN, an existing investor, joined the US Million $ round in Fyllo, an agri-tech startup led by Triveni Trusts, Ninjacart and new investors Venture Catalysts, StarAgri, Kia Ora Ventures, Singualrity Ventures, Mastermind Capital and angel investors. The start-up will use the capital raised for its expansion to new markets and towards research and development to support more crops.

Founded in 2019, Fyllo brings certainty in quality and quantity of agricultural produce through its data-driven Agri-science platform. Their IoT system understands and measures precise requirements of plants on real-time basis and then Agri-science platform backed by AI provides timely advice to farmers. The startup has developed crop-specific models for irrigation, nutrients, diseases, pests, and weather management for each physiological stage of crop and soil.  Fyllo helps farmers grow export quality crops through its data-driven platform that is powered by IoT, AI, and Agronomy. Fyllo has expanded its services to 2000+ farmers and 10+ corporates across 4 states in India covering 20,000 acres.

Speaking on the latest development, founders Sudhanshu Rai and Sumit said, “Farmers have seen the impact of technology and the adaptability has increased. Having received the funding, we are looking to invest in expanding our brand to new markets and more crops.”

M.K Dhanuka, Managing Trustee, Triveni Trust said, “Fyllo’s specific, precise and AI-driven advise to farmers helps them increase their crop productivity and lower input cost. 100% customer retention reflects the farmer’s confidence in Fyllo’s offering. This will contribute to transforming India through agriculture. We are excited about our investment in Fyllo.”

Ninjacart co-led this round and Thirukumaran Nagarajan, Co-founder & CEO , of Ninjacart said, “ Fyllo provides actionable insights through a combination of technology, science and data. We look forward to working with Fyllo team to expand their distribution through Ninjacart’s farmer network across the country.”

Padmaja Ruparel, co-founder of IAN said, “IAN invests in changemaker-startups like Fyllo — which have witnessed continuous business growth. The founders bring both passion and leadership and we are excited to be a part of the Fyllo journey.”

The startup will use the capital raised

Uncategorized

The company plans to significantly increase its presence to 100 Growing Centers in 20 countries

Infarm, a rapidly growing urban farming company with a global presence, announced that it has raised $200 million in a Series D funding round. The investment included participation from existing and new investors, including the Qatar Investment Authority (QIA) – which will support the company’s expansion to countries in the Middle East – Partners in Equity, Hanaco, Atomico, Lightrock, and Bonnier.

The additional capital will serve to expand the deployment of the company’s vertical farms in the US, Canada, Japan and Europe, and to enter new markets in Asia-Pacific and the Middle East with both in-store farming units and Infarm Growing Centers. In 2023, Infarm will open its first Growing Center in Qatar, where it will harvest tomatoes, strawberries and other fruiting crops besides herbs, salads and leafy greens.

This new farming model can be as much as 400 times more efficient than soil-based agriculture and uses no chemical pesticides. It requires 95 per cent less land and uses 95 per cent less water by recycling water and nutrients and using the evaporated water of the plants. 

Goldman Sachs Bank Europe SE and UBS acted as financial advisors to Infarm on this transaction.

The company plans to significantly increase its

Agrotech, Finance

Meiogenix has developed an innovative approach to common problems in agriculture

Meiogenix, an agriculture biotech company using the process of chromosome editing to expand genetic diversity in food and agriculture, has announced the closing of a $13 million (€11 million) Series A financing round, led by Sofinnova Partners, with participation from Genoa Ventures, Bpifrance, Casdin Capital and Alexandria Venture Investments.

Meiogenix has developed an innovative approach to common problems in agriculture, addressing key global food and industrial challenges. Meiogenix is applying gene and chromosome editing technologies to accelerate nature’s generation of biodiversity through the mixing of parental genomes during plant reproduction. This helps expedite the lengthy process of plant varieties selection and also leads to increased biodiversity, lost during the systematic selection of crops for high yield and long shelf life.

The Meiogenix platform addresses the $50 billion commercial seed market and breeding capabilities of large and essential crops like corn, wheat, rice, soybeans and tomatoes.  
 

Meiogenix has developed an innovative approach to