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

Funding round will support the company’s efforts to develop technologies for food quality assessments and enable the building of a team that will scale its product sales internationally..

Singapore based Novo Holdings announced that it has led an investment in AgNext Technologies Private Limited, a breakthrough agricultural and food technology company enhancing trust along the food chains by innovating artificial intelligence-based food quality assessment technologies.

Founded in 2016 with operations in India and Abu Dhabi, UAE, AgNext Technologies is committed to advancing, scaling, and commercialising an integrated platform for rapid, precise, cost-effective and portable food quality evaluations, benefiting all stakeholders across the agricultural value chain.

By digitising quality assessment, the company is establishing benchmarks for ensuring transparency in food transactions from origination to consumption. The company has built scalable models providing fair pricing in food chains, usage of unadulterated crop inputs, quality-assessed procurement for businesses and consumption of safe unadulterated food across food chains notably in grains, pulses, oilseeds, spices and herbs. AgNext’s solutions also significantly enhance efficiency and profitability within the food ecosystem.

This latest funding round will support the company’s efforts to further develop technologies for food quality assessments and enable the building of a team that will scale its product sales internationally and into new food segments.

The deal also marks the first Asia investment in the planetary health sector for Novo Holdings, supporting its broader strategic goal of making investments that address planetary health and drive the green transition – to feed a growing world population, fight climate change and create sustainable cities.

Dr Amit Kakar, Managing Partner and Head, Novo Holdings Asia, said, “This investment presents an exciting opportunity for Novo Holdings to collaborate with AgNext’s management team in markets with unmet needs, prioritising both organic and inorganic growth in the food and agritech space in the near and long term. With an innovative technology offering, AgNext is poised to capture opportunities to grow its business across various sectors and regions. Further, the company’s focus on unique and customised solutions aligns well with our vision of supporting transformative technologies in the bioindustrial and planetary health sector.”

Navjeewan Khosla, Partner, Novo Holdings Asia, added,”The food quality testing industry in India is driven by solid growth in the broader agricultural industry as well as a growing focus on quality control. With our investment in AgNext, we look forward to working closely with the company on its growth journey, leveraging our expertise and network to drive innovation and sustainable impact in the agritech space.”

Taranjeet Singh Bhamra, Founder and CEO, AgNext Technologies, said,”We at AgNext have been focused on digitising food chains enabling greater transparency and profitability for stakeholders. We are delighted to welcome Novo Holdings as an investor. Their global outlook and deep sector expertise will be valuable in supporting our mission of consolidating and integrating the best technologies for building the next generation in global food chains.”

Deepa Hingorani, Partner, Planetary Health Investments, Novo Holdings Asia, concluded, “Asia offers compelling opportunities for Novo Holdings to scale up its investments in infrastructure within bio industrials and planetary health. By investing in these areas, we aim to support our companies in their growth and ambitions to make an impact on people and planet.”

Funding round will support the company's efforts

Agribusiness, Farm Mechanisation, Funding, Investments, Start ups, World

22 investments have happened through all three platforms and the fund in 2024.

ah! Ventures invests in Agrilectric Pvt Ltd, that was founded in May 2022 with the vision of making farming lucrative again by upgrading the existing farm machineries & equipment to be more cost-effective, smarter and easier to use, through its First Gear Platform. ah! Ventures has done 221 investments in 130 startups till date taking its total investment portfolio to Rs 437 crore (54 MN USD) with 17 exits and 55 follow on rounds. 22 investments have happened through all three platforms and the fund in 2024.

Tech advancement in recent years is making it possible for smart electric propulsion system to replace engine-based systems, the switch can be immediate and extremely lucrative when the said engine system is being rented. The Indian farming eco-system consisting mainly of small and marginal farmers, all right within this sweet spot, opening up a huge disruptive opportunity. With our 3 layered strategy of electrify first, smartify second and autonimify third, we hope to elevate the farming experience and make it lucrative again.

The first two products that have been developed are ‘e-negilu”, the patented 5.5 Kw electric tiller and “e-kathri”, the 2 Kw electric weed cutter. Running cost of both of them is less than 10 per cent of a conventional engine-based system, while capable of maintaining the same efficiency of work. The products are state of the art and comes with a host of features like speed/current and torque control, with capabilities of remote monitoring and debugging.

Pushpa Gopal, Founder at Agrilectric says, “Apart from developing our own products, on the soft IP side, we have incorporated our unique S3 (self-stabilising system) & MCSA (motor current signature analysis) tech. The S3 tech basically enables a 55-Year-Old woman or a 20-Year-old man to be able to till the land with the same amount of efficiency, thus empowering almost anyone to be able to do their own tilling, whereas the MCSA allows us to create a digital twin capable of predictive maintenance.

The two products have been made available to the farmers for testing and feedback at various events/fairs and agri institutes, the response has been quite remarkable (Check Our Video) and have actually forced us to prepone our fund-raising plans by around 3-6 months to start commercialization as soon as possible.”

Pushpa Gopal also adds, “We are grateful and thankful to collaborate with AH Ventures who share our vision of empowering small and marginal farmers, enabling and guiding us to traverse the nuances of building a business from scratch up.”

Amit Kumar, Senior Partner at ah! Ventures said, “We are extremely excited to partner with and support Agrilectric’s exciting initiative. The Agri space is ripe for disruption especially on the farm equipment front. I am sure the company with its thorough research and innovative approach will act as a changemaker in this ever-evolving space.” ah! Ventures is one of the world’s largest fundraising platforms for early-stage startups”.

ah! Ventures is one of the world’s largest fundraising platforms for early-stage startups raising up to 10 MN USD. ah! Ventures has three platforms: First Gear, which helps startups raise up to Rs 1 crore (USD 150K), Angel Platform, which helps startups raise up to 1 million USD and High Tables Platform, which helps startups raise 1-10 MN USD.

22 investments have happened through all three

Company News, Finance, India, Investments, Start ups

Coromandel will invest Rs 150 crore taking its shareholding in the Dhaksha to 58 per cent.

Agriculture solutions provider Coromandel International is acquiring an additional 7 per cent stake in Dhaksha Unmanned Systems for Rs 150 crore taking its shareholding in the Chennai-based drone maker to 58 per cent.

The proceeds from the fund-raise will help Dhaksha strengthen research and development efforts, cater to servicing large orders and meeting working capital needs, Coromandel said on the acquisition through subsidiary Coromandel Technology.

“The investment in Dhaksha aligns with Coromandel’s vision of diversifying in technology spaces and promoting technology adoption across various spheres,” said Arun Alagappan, Executive Chairman Coromandel International.

Coromandel has been associated with Dhaksha from is start-up stage, supporting the company on talent acquisition, R&D and scaling up production. Dhaksha has strengthened its technological capabilities in the past year, investing in research activities to develop new products and applications. “We remain committed to bringing in latest innovations in drones and enable Dhaksha to become a drone manufacturing major in the country”, Alagappan said in a release.

The 2019 incorporated Dhaksha provides a range of Unmanned Aerial Systems (UAS) for use in agriculture, defence, surveillance and enterprise applications. It also offers remote pilot training services.

Dhaksha bagged several orders from defence and agri input companies last year and its order book stands at Rs 265 crore. It has recently expanded production capacity with a state-of-the-art manufacturing facility established on the outskirts of Chennai, Coromandel said.

Coromandel will invest Rs 150 crore taking

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

Eeki will commence exports of vegetables to international markets including UAE, Singapore and Europe in the next few months.

Eeki, a pioneering agritech startup cultivating nutritious vegetables in a sustainable manner, plans to invest Rs 700 crores over the next two years to scale up operations and enhance its domestic and global presence. The immediate expansion will take the company from Rajasthan and Haryana to Madhya Pradesh, Maharashtra, Tamil Nadu, and internationally into Oman. Eeki will also commence exports of vegetables to international markets including UAE, Singapore and Europe. Eeki’s technology produces 180 tonnes a year per acre, which is 18 times more than traditional farming. Eeki is the largest independent controlled environment farming company which will scale to 800 acres in the next two years.

“We are looking to expand our footprint into other states in India by partnering with like-minded landowners and partners. Our patented growing technology makes farming sustainable and climate proof, enabling year-round cultivation. Eeki farms deliver 18 times per acre yield as compared to traditional farming on even barren or unused lands at the similar cost, while using 80% less water,” said Abhay Singh, CEO & Co-Founder of Eeki.

“Automation lies at the core of Eeki’s operations, enabling seamless control of climate, irrigation, and nutrition through a cloud-based platform. We optimize yield and ensure crop health by detecting possible diseases early using image processing powered by machine learning and robotics” he further added.

“We at GC are inspired by daring founders like Abhay and Amit at Eeki who are building businesses with a focus on financial and societal return. Their business model and innovative solutions exemplify our aspiration to advance inclusive prosperity and make a meaningful difference in the lives of thousands of farmers,” said Anand Chandrasekaran Venture Advisor at General Catalyst.

“Our vision is to eradicate malnutrition globally by providing nutritious, residue-free vegetables accessible and affordable to all.  Our revolutionary approach has utilised barren land for cultivation and created a significant socio-economic impact. We have saved 13,000 kilograms of fertilisers, conserved 12 Crore Litres of water every year, and generated employment for over 150 rural women, empowering local communities and driving positive change” added Amit Kumar, COO & Co-Founder of Eeki.

“As Eeki’s first institutional investor, we are excited by the potential their patented technology holds to revolutionize current farming practices and build a climate-resilient agriculture ecosystem. We look forward to having landowners across India and the world become a part of our journey of producing nutritious vegetables at market prices, making malnutrition a thing of the past,” said Anjali Bansal of Avaana Capital.

Eeki previously secured a Series A funding of $6.5 million from institutional investors including General Catalyst and Avaana Capital positioning the company to achieve its growth objectives. Eeki is already profitable and aims to achieve a revenue of $100 million in the next two years.

Eeki will commence exports of vegetables to

Agrotech, Funding, India, Industry Reports / Analysis

This reduction aligns closely with the global decline in agrifood tech investments, which fell by 50 per cent year-over-year

AgFunder and Omnivore have released the sixth India AgriFoodTech Investment Report, detailing just under $1 billion in startup investment, a 60 per cent year-over-year decline from $2.4 billion in 2022. However, India maintained a steady deal activity with 129 deals, only slightly fewer than in 2022. This reduction aligns closely with the global decline in agrifoodtech investments, which fell by 50 per cent year-over-year. 

Unlike the global market, however, the total funds raised by Indian agrifood startups were not far off from the $1.3 billion garnered in pre-Covid 2019, suggesting a normalisation of market conditions after a period of excessive valuations. A concerning trend is the limited participation of agrifood investors, with Omnivore being one of the few remaining, alongside generalist and climate-focused VCs. This scenario underscores the need for more committed investors across all stages. 

Below are some of the highlights of the report:

In 2023, Indian agrifood tech startups raised $940 million across 129 deals, down 60 per cent from 2022.

The number of deals remained almost flat with 129 closing in 2023 compared to 133 deals in 2022, indicating smaller deal sizes given the steep decline in dollars raised. 

More early-stage deals closed in 2023 than 2022 indicating continued interest by investors in the category but at much lower valuations than in previous years.

The median deal sizes dropped significantly year-on-year across stages and most dramatically at the late stages: 50 per cent at the early stages (Seed and Series A), 39 per cent at the growth stages (Series B and C) and 89 per cent at Series D and later.

Both AgFunder and Omnivore continue to explore deals that push beyond traditional agrifood boundaries into adjacent sectors, highlighting the growing interconnectedness of food, agriculture, and other industries like climate tech. Despite a decrease in the median deal sizes, the willingness to invest persists, although at lower ticket sizes, with Ag Marketplaces and eGrocery receiving the most attention yet again. However, there are fewer players in the market than before, reflecting Power Law dynamics.  

This reduction aligns closely with the global

Agribusiness, Animal Health, Company News, Finance, Investments, Live Stock, Sustainability

It will enable BioLumic to apply its technology to ryegrass, the most common forage pasture on New Zealand farms, with a goal to increase fat content and subsequently reduce methane emissions from animals that consume it.

AgriZeroNZ is investing up to $5 million (USD $3million) in BioLumic, an agriculture biotech company utilising ultraviolet (UV) light to develop a low emissions farm pasture with increased productivity gains.

Founded in New Zealand, BioLumic is internationally acclaimed for its unique and proprietary UV Light Treatments which are applied to seeds to regulate their genetic expression and unlock their natural genetic potential.

These treatments have been found to significantly improve plant performance across 12 crops including corn, soybeans and rice – driving double digit yield gains, improved quality and enhanced immunity to pathogens.

AgriZeroNZ funding will enable BioLumic to apply its technology to ryegrass, the most common forage pasture on New Zealand farms, with a goal to increase fat content and subsequently reduce methane emissions from animals that consume it.

AgriZeroNZ chief executive Wayne McNee says this could deliver a simple solution to reduce emissions on New Zealand’s predominantly pasture-based farms, to help meet the global customer demands for emissions reduction, protect trade agreements, and achieve New Zealand’s climate goals.

“Pasture is the foundation of the business for Kiwi farmers, so a pasture solution to curb methane and boost productivity will be an important option in their toolkit to reduce emissions.

“BioLumic’s work is an exciting prospect to help secure the future of farming in New Zealand with the very thing that makes our agricultural sector unique and drives our competitive edge today – high quality grass.They have achieved promising results on ryegrass to date. We’re looking forward to seeing how it progresses,” McNee said.

Animals with high-fat diets have lower methane emissions, such as grain-fed cattle in more intensive barn farming operations overseas. Studies* have found that a 1 per cent increase in lipids (fat) content of feed will reduce methane emissions by ~5 per cent. BioLumic is targeting a 2-3 per cent increase in the lipids content of ryegrass to drive methane reduction by over 12 per cent.

Based in Palmerston North and with offices in the United States, BioLumic was founded in 2013 by Dr. Jason Wargent, the company’s chief science officer and a Professor in Plant Biology at Massey University.

Funding from AgriZeroNZ was part of BioLumic’s capital raise to enable application of its suite of products to address major sources of greenhouse gas emissions.

“We’ve developed light recipes from billions of potential options that, with a precise application, can significantly increase plant performance across a range of crop varieties and growing conditions,” Dr Wargent said.

“We’re confident we can achieve similar results in ryegrass with a focus on reduced methane, and we’re really pleased to be working with AgriZeroNZ to develop this important solution for New Zealand to put farmers at the forefront of low emissions pasture farming.”

Dr Wargent said the company is targeting wide scale use from 2027, with reduced regulatory barriers expected from the light treatment approach which will support a faster speed to market.

This is the sixth major investment by AgriZeroNZ to accelerate the development of emissions reduction tools and technologies for Kiwi farmers, having committed over $22 million to date. Other investments include funding for a methane inhibiting bolus, novel probiotics, New Zealand research for a methane vaccine and inhibitor, and construction of a greenhouse gas testing facility.

McNee said the JV is aiming to have two to three emissions reduction tools in widespread use by 2030.

It will enable BioLumic to apply its

Agribusiness, Agrotech, Company News, Funding, Start ups

The partnership will focus on identifying and addressing global food supply gaps, leveraging cross-border opportunities to amplify Mayani’s market presence.

Walmart-backed Ninjacart, India’s leading agri-startup that leverages technology and data to organize the global agriculture ecosystem, joins forces with Philippine B2B agritech innovator Mayani in a landmark deal. This strategic partnership sees Ninjacart deploying capital alongside cutting-edge supply chain technology and its advisory services to fuel Mayani’s innovation and growth trajectory. Ninjacart will also support Mayani’s expansion efforts and jointly establish an integrated Asian agri-food supply chain that would catalyse more digital innovations geared to address Asia’s complex food basket.

Ninjacart’s investment in Mayani, facilitated through its venture funding arm, NinjaVentures, marks a significant step in its international expansion strategy. The partnership will focus on identifying and addressing global food supply gaps, leveraging cross-border opportunities to amplify Mayani’s market presence. Mayani will integrate Ninjacart’s advanced technology, source traceability, and inventory management solutions to achieve inter-operability, hyper-efficiency, predictive modeling, and to enhance its supply chain efficiency.

Ninjacart’s entry into Mayani coincides with follow-on funding from existing investors, including the Jimenez family, after Mayani’s successful $1.7 million seed round led by AgFunder in 2023. With over three times revenue growth in the same fiscal year and positive margins, Mayani demonstrates strong fundamentals for further expansion and impact.

Kartheeswaran K K, Co-Founder & CEO, Ninjacart, expressed his excitement about the deal, saying “Our investment in Mayani reflects our unwavering commitment to revolutionize global agri commerce. By bridging the expertise of two agricultural powerhouses, India and the Philippines, we aim to create a transformative impact and unlock new opportunities in the Asian agri-commerce landscape and beyond.”

Ochie San Juan, Co-founder and Chief Farmer at Mayani, expresses enthusiasm about the partnership, stating, “The strategic additionality beyond capital, coupled with Ninjacart’s deep understanding of the Asian agri-supply chain, excites us about this investment. It strengthens the locus of our business, which is tech-enabled output market linkage, that further reinforces our upstream interventions on climate-positive inputs and rural financing.”

Ninjacart’s key investors, such as Walmart, Accel, and Tiger Global, have been instrumental in shaping its trajectory. This milestone highlights the aligned vision of Ninjacart and its investors to meet the evolving demands of agricultural ecosystems through the esteemed NinjaVentures. NinjaVentures is a notable global endeavour committed to sharing Ninjacart’s technological expertise, knowledge, and skills with emerging startups worldwide, aiming to transform agricultural supply chains in a manner akin to the challenges faced by nations like the Philippines.

Mayani boasts a vast grassroots network of over 144,000 organised smallholder farmers and fisherfolk across the Philippine archipelago. Its multi-point value chain platform optimizes supply chain dynamics, connecting fragmented supply with B2B market demand seamlessly. Moreover, Mayani’s ancillary agro-services empower smallholders, enhancing yield and climate resilience through quality agricultural inputs and facilitating rural financial inclusion.

The alliance between Ninjacart and Mayani heralds a new era of innovation and collaboration in the Philippine agritech sector, driving sustainable growth and economic empowerment across the agricultural value chain.

The partnership will focus on identifying and

Agribusiness, Agrotech, Company News, Drones, Farm Mechanisation, Finance, Investments, World

Together with Bem Agro, CNH aim to significantly enhance future precision technology solutions, services and reach for agriculture across Latin America and Asia Pacific.

CNH continues to strengthen its tech stack with Ag Tech solutions that make farming easier, more efficient, and more sustainable for our customers. To further our offering in this field, our investment arm CNH Ventures has taken a minority stake in Bem Agro – a Brazilian startup and existing supplier to CNH.

Bem Agro uses AI to convert any type of aerial field image – including those taken from machines, drones and satellites – into Agronomic Mapping Reports. These reports provide vital data that enables farmers to make better decisions about optimizing field operations, allocating resources and increasing yield while driving improved machine performance, greater productivity and reduced running costs.

In sugarcane, grain and fiber harvesting, where farmers can face low-visibility conditions, Bem Agro’s maps provide guidance lines for course correction and crop damage reduction. Their weed mapping pinpoints specific areas to be sprayed, minimizing herbicide usage.

This investment follows over five years of successful commercial partnership with Bem Agro. We currently use their mapping solutions on our Case IH and New Holland brands’ Connected Platforms for sugarcane harvesters, tractors and sprayers in Brazil, Indonesia and Thailand. Together with Bem Agro, we aim to significantly enhance our current and future precision technology solutions, services and reach for agriculture across Latin America and Asia Pacific.

Our drive for customer-inspired innovation relies on constant dialogue with the people that use our equipment and technology. Positive feedback from our dealer network and customers was instrumental in driving this strategic investment. We are excited to expand our collaboration with Bem Agro and further empower farmers to keep Breaking New Ground.

Together with Bem Agro, CNH aim to

Company News, Finance, India, Investments, Schemes - Banks

Cropnosys plans to use the capital for scaling up its manufacturing capabilities and bolstering its products suite.

Kotak Strategic Situations lndia Fund ll (“KSSF I1”), managed by Kotak Alternate Asset Managers Limited(“KAAML”), announced an investment of Rs 375 crore in Cropnosys (India) Private Limited (“Cropnosys”).

Cropnosys is an emerging agrochemical player focused on niche high value technicals. It has long standing relationships with some of the world’s largest agrochemical formulators. Over the years, Cropnosys has carved its space as a reliable, cost competitive and high-quality agrochemical technical player focused on complex and niche products.

With this funding, the Company plans to scale up its manufacturing capabilities and bolster its products suite. Cropnosys is also focused on bringing to market its unique portfolio of organic biofertilizers.

Rahul Shah, Partner, Kotak Strategic Situations Fund at Kotak Alternate Asset Managers Limited said, “We are delighted to partner with Cropnosys to fund their next phase of growth. India has emerged as the leading exporter of agrochemicals globally on the back of its strong manufacturing ecosystem, proven track record and cost competitiveness.”

Cropnosys plans to use the capital for

Agro chems – Chemicals, Finance, India, Investments, Trade

This strategic move is expected to significantly contribute to BAL’s expansion of formulation manufacturing capacity, resulting in an approximate addition of Rs 350 crores to its overall returns.

Best Agrolife Ltd. (BAL), a prominent player and one of the largest agro-input manufacturers in India, has executed a strategic investment in Kashmir Chemicals and acquired 99 per cent stake in the company. This move is aimed at expanding its manufacturing capacity in response to the growing market demand for branded agrochemical products and formulations. On October 20, 2023, a Reconstitution Deed of Partnership was formalized, retroactively effective from September 16, 2023, and duly registered with the Competent Authority in Samba.

Kashmir Chemicals is situated in Phase-1 of the Industrial Growth Centre in Samba and registered with the District Industries Centre. The facility is equipped with state-of-the-art machinery spread across 16 kanals of leasehold land allocated by J & K State Industrial Development Corporation Ltd. The company specializes in the production of pesticide formulations, including Emulsified Concentrates, Wettable Powders, and Granules. The former partnership company was equally shared between Shyamanand Sharma and Pardeep Kumar Jain, with an annual turnover of approximately 100 crores and a healthy profit margin, as indicated by the company’s financial statements.

During their board meeting on September 2, 2023, the board of directors reached a resolution acknowledging the escalating market demand for branded formulations. To address this demand, the company recognized the necessity to augment its manufacturing capacity. In evaluating potential solutions, such as in-house expansion and a greenfield project, the board noted the time constraints, estimating a minimum of 15-18 months and the risk of missing business opportunities.

Given the current commitments of the company’s existing partners to other business ventures, Kashmir Chemicals extended an invitation to BAL to enter into a partnership to facilitate the seamless operation of the manufacturing unit. Subsequently, the board decided to invest in Kashmir Chemicals by acquiring a 99 per cent stake in the partnership, alongside the participation of the existing partners. This strategic move is expected to significantly contribute to BAL’s expansion of formulation manufacturing capacity, resulting in an approximate addition of Rs 350 crores to its overall returns.

It is important to note that BAL has also been granted a 20-year patent for their innovative creation, the “SYNERGISTIC GRANULAR HERBICIDAL COMPOSITION FOR PADDY”. The company intends to introduce this one-shot herbicide in the upcoming Kharif season under the brand name “Orisulam”.

This strategic move is expected to significantly

Agro chems – Fertilizers, Agrotech, Company News, Finance, Middle East countries, Organic

Aims to revolutionise agriculture, address environmental challenges and promote sustainability.

Uterra Middle East Agro Industries is investing USD 20 million in the next three years for the construction and development of Ras Al Khaimah’s (Ras Al Khaimah Economic Zone (RAKEZ) first organic soil fertiliser project, which aims to revolutionise agriculture, address environmental challenges and promote sustainability.

A part of a multi-national UniPax Investment Group, Uterra has acquired a land plot of approximately 33,000 m2 in Al Ghail Industrial Zone to build a sustainable biosphere cluster. At the new facility, the company will produce high-efficiency micro-biological organic fertiliser for agriculture and carry out research and scientific work on the creation of unique methods of cultivating plants, medicinal and valuable fungi. The company will also be farming fruits, vegetables and berries, both indoors and outdoors, and conduct organic animal husbandry.

The Uterra project implementation in the UAE aims to address several key objectives. First, it aims to produce and implement highly efficient and profitable organic fertilisers in both the UAE and the global markets. Second, the project aims to ensure that the residents of the region have access to sufficient quantities of high-quality, environment-friendly products. The ‘uTerra’ branded products will be developed without the use of pesticides. Additionally, they will have zero amount of harmful chemicals and genetically modified organisms (GMOs), promoting natural and healthy food sources. This will not only positively affect people’s health, but also reduce depletion of valuable soil resources.

According to UniPax owner and Uterra founder Dr Anatoli Unitsky, the decision to establish his company’s operations in Ras Al Khaimah was influenced by several factors. “I am greatly impressed with Ras Al Khaimah’s vision for turning the emirate into a regional leader of socio-economic development. As for the location, the emirate offers convenient logistical solutions and the launch of Etihad Rail will also open up new possibilities. Additionally, the RAKEZ team has provided excellent support with all procedures of our new set-up, from the acquisition of our facility space to assistance in bank account opening.”

RAKEZ Group CEO Ramy Jallad said, “We are thrilled to welcome Uterra into our diverse business ecosystem. We, at RAKEZ, are big supporters of innovation and sustainability in all aspects of business and Uterra’s plans align perfectly. By developing organic soil fertilisers, Uterra is not only providing a solution for environmental challenges, but also fostering a more sustainable agriculture sector in Ras Al Khaimah. This resonates with our commitment to the Year of Sustainability, facilitating more and more businesses that contribute towards a greener future. It’s not only about economic growth, but also about growing responsibly.”

Aims to revolutionise agriculture, address environmental challenges

Agrotech, Company News, Finance, India, Start ups

Investment will help Yara Growth ventures to identify potential disruptors in industry for collaboration and joint experimentation.

Yara Growth Ventures has invested in the Omnivore Agritech & Climate Sustainability Fund, which announced its first close at USD 150 million. Omnivore funds agri-food tech startups across India and Southeast Asia. Co-investors alongside Yara Growth Ventures include sovereign wealth funds, development finance institutions, foundations, family offices, and other corporate strategic investors.

“Our close relationship with Omnivore will help us identify potential disruptors in our industry for collaboration and joint experimentation,” adds Sanjiv Kanwar, Country Manager for Yara India. “Yara is eager to collaborate for innovative agricultural inputs and digital solutions to bring novel solutions to our customers.”

According to Jinesh Shah, Managing Partner at Omnivore, “Our new fund will have a sharper focus on catalysing climate action in agriculture by funding startups addressing climate mitigation and climate adaptation. We are grateful to our investors who share Omnivore’s vision of making India an agri-tech superpower and improving the lives of smallholder farmers globally.”

“The startup ecosystem in India is highly dynamic. We see great entrepreneurial talent addressing the resilience and environmental impact of the agri-food sector and various challenges in the supply chains,” says Dr Björn Heinz, Investment Director at Yara Growth Ventures. “Omnivore has been a trailblazer in the Indian agri-tech venture capital investment scene. Partnering with their team will help us gather important insights and learnings as we develop our activities in Asia.”

Omnivore was founded in 2011 by Mark Kahn and Jinesh Shah to fund Indian startups building the future of agriculture and food systems. Omnivore pioneered agri-tech investing in India, and over the past decade has backed over 40 startups which are making farming more profitable, resilient, sustainable, and climate-proof. Omnivore raised USD 82 million for its second fund, which had a final close in April 2019. Some of Omnivore’s portfolio companies include DeHaat, Arya, Stellapps, Reshamandi, Ecozen, Aquaconnect, and Pixxel.

Investment will help Yara Growth ventures to

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

Agro chems – Chemicals, Company News, Finance, India

 The company will also invest to enhance manufacturing capabilities and create backward integration in its manufacturing process.

Best Agrolife Ltd., India’s leading agrochemicals manufacturer, has announced its medium to long-term target to gain 15-20 per cent market share. The company is also enhancing its manufacturing capabilities through ‘brown field’ and ‘green field’ capex plans.

Besides, the company is also seeking 25-30 per cent growth in revenue by increasing the share of the Formulation Business and B2C segment. This will also ensure consistency in healthy EBITDA delivery, offering a better return on equity. Additionally, the company is spreading its footholds in the overseas markets in FY 23-24 to replicate its domestic success story with selective offerings, ensuring sustainable and healthy profit margins.

“Best Agro is working proactively to maintain its leadership position. The investment plans aim to build the company’s manufacturing capabilities, create backward integration in its manufacturing process, and improvise gross margin and working capital management. Along with investments, we believe that schemes such as ‘Make in India’, and production-linked incentives (PLI) will boost domestic production, leading to the sector’s and the company’s growth. We are also expanding our footholds in the overseas markets,” says Vimal Alawadhi, MD, Best Agrolife Ltd.

The company is also optimistic about the long-term benefits of simplifying the export registration process, reducing trade barriers, and improving focus on bilateral trade agreements to enhance revenue generation through exports.

 The company will also invest to enhance