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Agrotech, Company News, Finance, India, R&D

The fund is committed by Morocco-based Mohammed VI Polytechnic University and the OCP Group to back breakthrough sustainable technology in India

Bidra Innovation Ventures (Bidra) has announced a $200 million commitment by Morocco-based, Mohammed VI Polytechnic University (UM6P) and the OCP Group. The initiative will expand Bidra’s investment scope to include innovations in sustainable agriculture, energy, water and other climate technologies with a focus on emerging markets like India, Africa, and others.

This latest round of funding comes one year after Bidra launched a $50 million fund backed by the same investors focused on agriculture. In India, Bidra is an active investor in Niqo Robotics, a Bangalore-based agricultural robotics start-up focused on AI-powered sustainable spot spraying technology.

Over the past year, Bidra has nurtured multiple breakthroughs in technology. They have supported several innovative sustainable tech companies including Niqo Robotics, an AI tech-driven company that reduces chemical volumes, Agrospheres, an ag-tech company developing environmentally friendly crop protection products, and Pattern Ag, which uses predictive analytics to customise crop fertility plans.

“UM6P recognises the role innovation must play to sustainably solve global challenges,” said Amar Singh, Head of Group, Bidra Innovation Ventures. “We are grateful for UM6P’s visionary leadership and support as we continue to back innovators forging the future via sustainable technologies for Africa and beyond. Having OCP’s support is a tremendous advantage because now we can extend OCP’s regional know-how and distribution capacity to startups that are ready to scale. If you have technology that is ready for prime time, consider Bidra as a gateway to scaling your technology in India, Africa and beyond,” Singh further elaborated on the latest fundraising.

India-based startup Niqo Robotics from Bidra’s portfolio has made rapid strides over the past year and is gearing up to launch the world’s largest fleet of AI-powered green-on-green spot spray agricultural robots in India by June 2023. “We are immensely proud of our association with Bidra through the past year. We have amazing synergies, and our partnership has empowered Niqo Robotics to scale our breakthrough sustainable spot spraying solution from lab to land and potentially revolutionise crop protection applications in agriculture, worldwide,” said Jaisimha Rao, Founder and CEO of Niqo Robotics

Companies backed by Bidra not only benefit from the financial resources of UM6P and the OCP Group but also from the organisations’ domain expertise and expansive global footprint. Talent, customer, and capital – these are the three inputs that every founder is looking for. Bidra, UM6P and OCP are looking to assist disruptive sustainable technologies in all three.

The fund is committed by Morocco-based Mohammed

Agro chems – Fertilizers, Agrotech, Company News, India

OCP to supply India with up to 1.7 million metric tons (MT) of phosphate fertilizers for the agricultural season over the next twelve months.

OCP Group has signed Memoranda of Understanding with India’s largest fertilizer producers. These memoranda were signed between OCP Group executives and Indian fertilizer manufacturers, in the presence of Dr Mansukh Mandaviya, Minister of Health, Chemicals and Fertilizers in India and Rajesh Vaishnaw, Ambassador of India to the Kingdom of Morocco and Mostafa Terrab, Chairman and CEO of OCP Group.

The objective of this partnership is to carry out joint Research & Development initiatives, to jointly promote innovative fertilization solutions, and to offer tailor-made fertilizers that meet the specific needs of Indian farmers, in close collaboration with the Indian agricultural ecosystem (public sector, agronomic institutes, agricultural federations, farmers, etc.)

Within this framework, OCP Group has signed Memoranda of Understanding (MoU’s) with India’s largest public and private sector fertilizer producers, paving the way for OCP to supply India with up to 1.7 million metric tons (MT) of phosphate fertilizers for the agricultural season over the next twelve months.

The agreements will provide for up to 700,000 MT of Triple Super Phosphate (TSP), a phosphate-based fertilizer that has the highest phosphate content found in nitrogen-free granular fertilizers and can be tailored to meet the specific needs of plants and soils in India. Customized fertilizers are known to be better for soil health, thus reducing waste. The MOUs also call for the delivery of 1,000,000 tons of diammonium phosphate (DAP) to Indian farmers.

Commenting on the occasion, Soufiyane El Kassi, Chairman and CEO of OCP Nutricrops, the group’s subsidiary dedicated to soil health and plant fertilization solutions said: “We are pleased with India’s interest in our customized solution (TSP) that significantly contributes to increasing yields, improving farmers’ incomes and accelerating the implementation of sustainable agricultural practices.”

OCP to supply India with up to