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HomePosts Tagged "investment" (Page 2)
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

Company News, Finance, Horticulture, India, Start ups

This is the first investment from Aavishkaar Capital’s USD 250 Million “ESG First Fund”.

ESG First Fund, managed by Aavishkaar Capital (Aavishkaar), an Aavishkaar Group company and a global pioneer in taking an entrepreneurship-based approach to scaling businesses for impact, and set up in partnership with KfW, a German state-owned development bank, announced their first investment of Rs 16 Crores (1.95 million USD) from the ESG First Fund into INI Farms.

ESG First Fund is a USD 250 Mn fund focused on investing in Asia and Africa with the mandate of generating superior Environmental, Social and Governance (ESG) outcomes and commercially viable financial returns alongside positive social impact. The Fund was established with the primary objective of improving these areas especially along the supply chains serving the European markets.

Founded in 2009, by Purnima and Pankaj Khandelwal, INI Farms is a leading exporter of fruit and vegetable crops with large-scale pan-India operations spanning contract farming, aggregation, supply chain management and are serving food retailers globally.

Purnima Khandelwal, CEO & Co-founder, INI Farms said, “The agriculture story in India is poised for a multi-fold growth. We believe that large platforms providing end-to-end services to the farmers from advisory and inputs to output offtake is going to drive this transformation. This investment will provide us with a great opportunity to grow multi-fold with expansion into the entire agriculture output business and leveraging our strong supply chain capabilities.”

Commenting on the investment, Abhishek Mittal, Partner- Credit – Aavishkaar Capital said, “We are excited to invest in INI Farms and support them in their next phase of growth as it expands its product offering and geographical reach. INI’s Farms continued commitment to deliver export-quality fruits & vegetables produced in an environmentally sustainable and socially inclusive manner and to exacting global standards, sets it apart to meet the growing demands of today’s conscientious consumer. INI along with Agrostar, is well placed to meet the demands of global markets while empowering farmer at the back-end”.

Stephanie Lindemann-Kohrs, Director Global Equity and Funds, KFW said “We at KfW are acting on behalf of the German Government in this Fund-Investment. Main objective of the initiation of this Fund is to improve the environmental and social standards, especially the working standards upstream to the European supply chain. German and European citizens want to purchase products which are produced in fair working conditions and are adhering good environmental and social standards. The Funds investment procedure follows a proper environmental and social due diligence, which sets uplifted standards for its investees. In that way we believe INI farms will demonstrate as a beacon the positive outcome of ESG adherence with improved business opportunities with Europe.”

This is the first investment from Aavishkaar

Agrotech, Company News, Europe, Finance, Seeds

This investment includes a new seed dryer, state-of-the-art agricultural field equipment, storage facilities.

Bayer has revealed an investment of overall 60 million euros from 2023 onwards in its corn seed production facility Pochuiky, Ukraine. With this the life sciences company emphasizes its commitment to Ukraine and strengthens its Crop Science business in the country, contributing to rebuilding the economy. This investment includes a new seed dryer, state-of-the-art agricultural field equipment, storage facilities and the construction of two bomb shelters to ensure the safety of the Ukrainian colleagues who have been operating the facility and executing this investment project under very difficult circumstances.

Bayer’s Head of Public Affairs, Science and Sustainability Matthias Berninger said, “Our investment underscores our commitment which is in full alignment with our vision of ‘Health for all, hunger for none’ and reflects the critical importance of the country in the global food supply chain. We will do our part to support the rebuilding plan for Ukraine and protecting food security for the region and for the world.”

Berninger attended a small business delegation on a visit to Ukraine led by Robert Habeck, German Vice-Chancellor and Federal Minister for Economic Affairs and Climate Action. The delegation which also included Oliver Gierlichs, Managing Director of Bayer Ukraine, discussed Germany’s commitment to the country and its people as well as the possibilities of an economic partnership. It was the first business delegation of the German government in Ukraine since the beginning of the war.

Prior to the war, the company made a significant investment of close to 200 million euros to establish corn seed production through a network of skilled Ukrainian farmers and the greenfield seed processing site in Pochuiky. The plant was inaugurated in 2018 and operates with around 100 on-site employees and about 250 to 300 seasonal workers. Bayer, with its plant, is one of the biggest investors in the region. Its taxes comprise about 25% of the local community budget. Bayer is actively involved in solving social issues of the local community in the Pochuiky village by investing in the construction of a new road and the local hospital, as well as continuously supporting the local school, kindergarten and library.  Pochuiky site investment in line with overall efforts of Bayer to support Ukraine.

This investment includes a new seed dryer,

Agrotech, Animal Health, Company News, Finance, Start ups

Using this funding, eFeed will strengthen its R&D operations, expand its farmer network, and focus on talent acquisition.

Omnivore announced today that it has invested in eFeed, an animal nutrition and health company manufacturing innovative products for livestock. This is Omnivore’s third life sciences investment under its OmniX Bio initiative, which was originally launched in December 2021.

eFeed has developed nutritional supplements for livestock which can improve overall cattle health while also increasing milk yield. eFeed’s digital nutrition application also provides customized ration balancing, factoring in the location of the cattle and available raw materials for feeding. The application also connects veterinary doctors to cattle farmers for easy access to medical services. Using this funding, eFeed will strengthen its R&D operations, expand its farmer network, and focus on talent acquisition.

Based out of Pune, eFeed was founded in 2021 to disrupt the USD 14 billion Indian animal nutrition and health industry. The three founders, Kumar Ranjan, Ravi Chauhan and Ankit Patel, all grew up in rural India. Kumar is a two-time entrepreneur with successful exits to MyGate and Roadzen. Ravi founded RyCabz, an automobile servicing startup, while Ankit, an IIT Bombay graduate, previously worked for Udaan. Currently, eFeed has a network of three lakh farmers and has launched multiple products to improve lactation, solve infertility, and enhance the general health/immunity of cattle.

Kumar Ranjan, Co-Founder & CEO of eFeed, said, “Despite holding the global top spot in cattle population and dairy production until now, India lacks disruptive innovations in the animal nutrition and health (ANH) industry. We believe nutrition plays the most critical role in cattle health. By empowering farmers with localized and customized feed advisory supplemented by our premixes, eFeed is improving cattle health, milk output, and farmer incomes while lowering reliance on expensive compound feed and medicines.”

Mark Kahn, the Managing Partner of Omnivore, stated, “Omnivore is delighted to back eFeed under our OmniX Bio initiative, which seeks to blaze a path forward for agrifood life sciences in India. We are proud to support eFeed’s bold vision for revolutionizing animal nutrition and health in India.”

Using this funding, eFeed will strengthen its

Agro chems – Chemicals, Agrotech, Company News, Finance, India

The company plans to launch an interactive technology platform to integrate the entire value chain in the agri-economy

Agrochemicals maker Safex Chemicals Ltd has announced its plans to invest Rs 100 crore in its new agri-tech arm, AgCare Technologies, in the next three to four years for launching an interactive tech platform and for setting up a manufacturing unit.

Safex Chemicals will be leveraging its existing domain expertise for setting up the tech platform. The company has already made some investment in technology and plans to expand the team gradually.

The company’s revenue is expected to increase to Rs 1,220-1,250 crore by end of 2022-23 fiscal with the recent acquisition of UK-based Briar Chemicals, from Rs 783 crore in the previous fiscal. Currently, Safex Chemicals has six manufacturing units in India, one in the UK.

The company mentioned that the plan is to launch an interactive technology platform to integrate the entire value chain in the agri-economy. Key stakeholders, especially farmers, can buy quality crop protection products and get services like weather updates, experts’ help and mandi rates on this platform. A pilot study of this interactive tech platform will be conducted in January-March. We plan to go live in the next fiscal year. A new manufacturing unit will also be set up to meet the demand of existing and new products like cattle feed solutions that will arise from the proposed platform.

The company plans to launch an interactive

Agrotech, Finance, India, Start ups

Nouryon will bring its expertise in crop protection and crop nutrition to the collaboration and enhance AGEYE’s precision farming technology to optimise indoor growing at scale for growers

Nouryon has announced that it has invested in Bangalore-based AGEYE Technologies, a technology company developing an automation platform for indoor farming. The platform uses artificial intelligence to turn visual inputs into crop growth development insights and autonomous actions that improve the predictability and profitability of harvests for growers. Nouryon will bring its expertise in crop protection and crop nutrition to the collaboration and further enhance AGEYE’s precision farming technology to optimise indoor growing at scale for growers.

“At Nouryon, we are constantly assessing investment opportunities in emerging and sustainable technologies that have the potential to become a disruptive force in our key end-markets including Agriculture and Food, Home and Personal Care, and Paints and Coatings,” said Rajeev Rao, Nouryon Senior Vice President of Corporate Development. “AGEYE’s next-generation digital platform has the potential to transform indoor farming.” 

AGEYE’s digital technology combines the principles of plant eco-physiology and precision farming to create an intelligent indoor farming platform that maximises plant growth rate, development, morphology, physiology, and ultimately improvement of crop yield, phytochemical content, and flavour. 

“The AGEYE platform’s ability to rapidly identify localised growth irregularities and implement corrective actions is an excellent complement to Nouryon’s crop nutrition and crop protection product portfolio,” said Ignacio Garin, Vice President, Agriculture and Food at Nouryon. “We look forward to collaborating closely with AGEYE to accelerate the development of this revolutionary technology and offer our customers the next generation of solutions in the indoor farming sector.”

“We are very pleased to partner with Nouryon – they have an extensive global reach in serving fertigation and hydroponics applications with micronutrients and specialty fertilizers and we share a vision of advancing the sustainability of indoor farming,” said Nick Genty, Co-Founder and CEO of AGEYE.

AGEYE has been recognised as the “AI-based AgTech Company of the Year” by the 2022 AgTech Breakthrough Awards and “Overall Sensor Solution of the Year” by the 2021 AgTech Breakthrough Awards. Founded in 2018, AGEYE has offices in Raleigh, North Carolina (USA) and Bangalore, Karnataka.

Nouryon will bring its expertise in crop

Company News, Finance, Horticulture, India, Start ups, Supply Chain

To leverage Allfresh’s capabilities, as well as network of apple and citrus growers, and farmers in Himachal Pradesh, Punjab, Maharashtra and Madhya Pradesh

Chennai-based WayCool Foods, India’s leading food and agri-tech company, has announced an investment in AllFresh Supply Management Private Limited (AllFresh) as part of its strategy to create a Keiretsu in the global food supply chain. 

AllFresh has been pioneering the development of modern supply chains in the apple and citrus spaces, introducing state-of-the-art practices and technology to erode food loss and extend shelf life of these products. With increase in prosperity, the consumption of premium fruit is expected to grow rapidly in India. As the nation ramps up its acreage under cultivation to meet this growing demand, WayCool will leverage Allfresh’s capabilities, as well as network of apple and citrus growers, and farmers in Himachal Pradesh, Punjab, Maharashtra and Madhya Pradesh, among other locations, connecting their output to WayCool’s extensive network of over 1,25,000 retail clients.

The investment will help AllFresh further invest in its capabilities in post-harvest tech to enhance quality and extend shelf life. AllFresh will also benefit from increased access to WayCool’s deep and dense distribution network in India, and the UAE. 

Chinna Pardhasaradhi, Group CFO, WayCool Foods said, “We welcome AllFresh into the WayCool Family.  The investment in AllFresh will further strengthen our sourcing of premium apples and citrus from across India. WayCool already brings these products from global sources. Our investment in AllFresh therefore completes our supply chain capability and enables us to deliver fresh fruit year-round.” 

Naresh Jawa, Founder and Promoter, AllFresh said, “I am delighted to be on board with WayCool. AllFresh & WayCool pursue the common objective of formalising the scattered fruit and vegetable industry in India. Our aim is to reduce pre & post-harvest wastage, and realize better value for farmers, using state-of-the-art knowledge and technology. We look forward to extending our acquired expertise in efficient procurement and marketing of Indian Apples & Oranges to a wider basket of premium fruits along with WayCool”. 

WayCool has been making several effective investments in companies that bring complementary capabilities to its platform, especially those with deep capabilities that are at the cusp of rapid growth. Most recently, it had invested in SV Agri, one of India’s largest independent potato supply chain and solutions companies, which has grown by over 2.5x since its most recent fundraise from WayCool.

To leverage Allfresh's capabilities, as well as

Agrotech, India

At the recently held AgriTech Summit, Narendra Singh Tomar, Union Minister of Agriculture & Farmer Welfare emphasised that agriculture is a very important sector for our country and we accept the primacy of agriculture. In this regard, work is being done in the direction of its progress, changes in it, inclusion of policies, cooperation, etc. There are 86 per cent small farmers in the country, who have small acreage and cannot invest much. The government is working to take these farmers forward, without whom neither agriculture nor the country will progress.

The government has started the work of creating 10,000 new FPOs. Of these, 3,000 have become FPOs. If small farmers join these FPOs, then the area under cultivation increases, the collective power of the farmer’s increases. If there is only one type of farming, then production will increase and farmers will be able to get good price. This effort is being made to increase the income of the farmers. Tomar added, “The government is also working in the field of pulses and oilseeds. Both were areas of scarcity. Farmers have ventured into pulses and have made huge leaps in production. There is still a gap in oilseeds, for which the government is working on the oilseed mission”.

He also said that there is a need to deal with the challenges of the agriculture sector, how technology should be introduced in it, how to increase the availability of private investment, how to create employment opportunities. Talking about technology in the agriculture sector, Tomar said that the government is working on Digital Agri Mission so that the farmers can reach the government and the government can reach all the farmers. If transparency will increase through technology, then all the farmers will be able to get the full benefits of all the schemes. 

At the recently held AgriTech Summit, Narendra

Company News, Finance, Horticulture, India

 The project would generate employment for 500 people and boost the production, sale, and export of kiwi and other fruits from the region.

Chandigarh-based IG Fresh Produce, a subsidiary of IG International, one of the leading fresh fruit importers, has planned to invest Rs 100 crores in the next five years in Arunachal Pradesh for the cultivation of exotic fruits like Kiwi and stone fruits. The company has engaged in an agreement with the Arunachal Pradesh Agricultural Marketing Board (APAMB) and the farmers of Namshu village in West Kameng district for the aforementioned endeavour.

The undertaking within its purview would ensure cultivation, research and development, and post-harvest activities in a phased manner. The project will also generate gainful employment (technical and non-technical) for 500 youths over a period of 5 years in the Agri-Horti Sector in West Kameng District and from the rest of the state. This will not only boost the production of kiwi in the state but also increase the sale and export of kiwi and other fruits from the region.

Articulating about the historic agreement, Gautam Jha, President of IG Fresh Produce Private Limited, said, “We at IG Fresh Produce are very confident of creating a natural lab for the cultivation, careful curation, research and development, and post-harvest treatment of the first-grade produce done in the orchid paradise of India.”

Speaking about the potential of this investment and trust for Arunachal Pradesh to be the home for superior exotic produce, Tage Taki, Agriculture minister, said, “This is a very big investment, not only in terms of the financial value but also in the context of the trust shown towards Arunachal and its farmers, for which I thank IG Fresh Produce, APAMB and the Invest India team. This project has the potential to make India into an independent nation when it comes to feeding top-notch Kiwis to its fruit-loving population. The state government will provide everything the farmers and IG Fresh Produce need to grow the best and most delicious fruits in our country.”

The APAMB is the premier agency of the state government that is exclusively responsible for the marketing of agriculture and allied sector products. The IG Fresh Produce Private Limited is one of the top fresh fruit importers in the country and a major supply chain player in the country. It has developed an efficient supply chain for providing high-quality fresh fruits like apples, kiwis, citrus, pears, blueberries, avocados, stone fruit, grapes, etc. to 27 cities across India.

 The project would generate employment for 500

Agrotech, Finance, India

New investors include GMO Venture Partners, and DG Daiwa Ventures who join existing investors such as Blume, Arkam Ventures, Mirae Asset and Snow Leopard Ventures.

Jai Kisan is a leading financial services provider to rural Indian farmers and retailers. The company focuses on enabling more transparent and attractive financing along the agriculture value chain with its buy-now, pay-later and supply chain financing offerings.

Founded by Arjun Ahluwalia and Adriel Maniego in 2017, Jai Kisan has grown into a critical part of India’s agriculture ecosystem by providing financing to both agriculture retailers and farmers. Since its founding, Jai Kisan has expanded its services to include supply chain financing and buy-now, pay-later offerings.

“We were immediately struck by the opportunity that Jai Kisan has to help enable better financing to rural Indians,” says George Roche of the Yara Growth Ventures team. “Better credit access can help micro, small, and medium enterprises (MSMEs) grow their businesses, while helping growers afford products which will improve their yield and quality.”

The Yara Growth Ventures team has been impressed with the professionalism and passion of the Jai Kisan team. They have a clear plan of action for how to deliver value to their customers by creating a strong fly-wheel – starting with a free software tool for MSMEs to better run their businesses, all the way to financing for the MSMEs and their customers directly.

“We are proud to have come thus far in this journey of revolutionizing financial services for rural India,” says Arjun Ahluwalia, co-founder and CEO of Jai Kisan. “It is due to the strong support of our network of customers and partners, and our extremely resilient team that we have been able to launch and scale such ground-breaking solutions. We are grateful for the faith that our investors, lenders and other stakeholders have shown, and continue to show in our vision. We will continue to build on the back of this support and create impact in this underserved space, leveraging creative new age solutions and keeping customer experience at the core of our beliefs.”

New investors include Yara Growth Ventures, GMO Venture Partners, and DG Daiwa Ventures who join existing investors such as Blume, Arkam Ventures, Mirae Asset, Snow Leopard Ventures, and others. Northern Arc, Alteria and MAS Financial contributed to the debt raise.

New investors include GMO Venture Partners, and

Agro Universities, Finance

This investment will ensure that all students are prepared and have a fair opportunity to compete for professional jobs in science and agricultural fields

The US Department of Agriculture’s (USDA) National Institute of Food and Agriculture (NIFA) announced a $16 million investment in agricultural education and workforce development for undergraduate students from diverse backgrounds.  This investment will ensure that all students, including underrepresented and underserved students, are prepared and have a fair opportunity to compete for professional jobs in science and agricultural fields.

“Our nation is increasingly facing the challenge of meeting the demand for qualified graduates in the agricultural, food and renewable resources sectors of the US economy,” said NIFA Director Dr Carrie Castille. “USDA’s investments in students today through programmess like this will expand opportunities for tomorrow’s workforce to develop the skills and training necessary to meet the needs of the agricultural sector, while ensuring that all voices across the fabric of our society are heard and included.”

These investments are part of the Research and Extension Experiences for Undergraduates (REEU) programme, which promotes research and extension learning experiences for undergraduates such that upon graduation they can enter the agricultural workforce with exceptional knowledge and skills. This initiative helps colleges and universities provide opportunities for undergraduate students, including those from underrepresented and historically undeserved groups, minority-serving institutions, community colleges, and universities. The programme is funded by NIFA’s Agriculture Food and Research Initiative Education and Workforce Development Programme.  

USDA is committed to equity and inclusion in all of its programs and services. Investments like this opens doors, creates opportunities and helps build a future workforce that mirrors America.

This investment will ensure that all students