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HomePosts Tagged "pre-seed funding round"
Agribusiness, Finance, India, Packaging & Labelling, Start ups, Supply Chain, Sustainability

The funding will support Ukhi’s efforts to scale its production, enhance its materials research, and expand its sustainable packaging offerings globally.

Faridabad-based biomaterials startup Ukhi, focused on developing sustainable, biodegradable packaging solutions, has announced that company has raised USD 1.2 million in a pre-seed funding round. The round was led by 100Unicorns, with participation from Venture Catalysts, angel investor Avtar Monga, and debt funding from the Small Industries Development Bank of India (SIDBI). The funding will support Ukhi’s efforts to scale its production, enhance its materials research, and expand its sustainable packaging offerings globally.

Founded in 2019 by Priyanka Chauhan, Vishal Vivek, and Sundeep Kumar Tyagi, Ukhi specialises in producing compostable biomaterials derived from agricultural residues. The company’s innovative, patent-pending technology offers a viable alternative to traditional plastics, contributing to the bioeconomy and helping industries transition to more eco-friendly practices.

The startup’s cutting-edge biomaterials are based on lignocellulosic agricultural waste, providing scalable, sustainable alternatives to plastic. Ukhi aims to make a significant impact by offering biodegradable packaging solutions that help industries reduce their environmental footprint and accelerate the adoption of circular, sustainable practices.

With operational bases in Haryana and Uttarakhand, the startup aims to tackle plastic pollution and reduce crop burning by using agricultural residues as raw materials. Its biomaterials serve as the foundation for a range of sustainable packaging products, targeting industries such as food and retail. With this funding, Ukhi plans to drive industry-wide transformation while competing with players like Traceless and Advanced Biomaterial Company in the growing biomaterials sector.

The funding will support Ukhi’s efforts to

Agrotech, Company News, Finance, India, Start ups

 Company plans to use funds to accelerate the operations in non-perishable agri-supply chain along with building the team.

Agri-tech company Bull Agritech has raised $100K (Rs 8 million) in a pre-seed funding round led by startup accelerator PedalStart. Bull Agritech has been part of PedalStart’s current cohort One-to-N which is backed by leading Venture Capital funds from the ecosystem. The company plans to use funds for the growth of the company and accelerate the operations along with building the team, Bull Agritech mentioned.

Co-founded in 2021 by Hit Desai and Divyajeet Chauhan, Bull Agritech connects farmers directly to agri-commodity processors providing end-to-end supply chain solutions, in a highly fragmented non-perishable agri-supply chain market. The way Bull has gained traction amongst the farmers has been the reason behind the buzz in the Agritech space. The startup is based out of a tier 3 region in the North Gujarat region and is working to enable the breadmakers of the nation. The initiative by Bull Agritech is going to be a boon for the agriculture sector of the nation.

Manas Pal and Aditya Darolia, Co-founders at PedalStart commented, “One-to-N has been a cohort that has set a benchmark for us as well. Out of 9 startups which have been selected had raised their first round and here we came up to upscale their journey to level two. Bull Agritech has been the first success, and counting on more coming up.”

With a mission to revolutionise the non-perishable agri-trade market and empower farmers through transparent and efficient market connectivity, Bull Agritech has already facilitated trades worth Rs 25 Crores and onboarded 15000 farmers digitally, illustrating their rapid growth and impact in just 18 months. Co-founders Hit Desai and Divyajeet Chauhan’s vision, rooted in the principles of transparency and trust-building, resonates deeply with the agricultural community, promising a brighter future for India’s agricultural landscape.

Hit Desai, Co-founder at Bull Agritech said, “We see a huge opportunity in the non-perishable agri-trade market as the farmers have been left with a 100-year-old monopoly that is APMC which lacks market connectivity, transparency, and efficiency. It is a known fact that the intermediaries use this monopoly to manipulate the market which results in farmers’ loss. There has been no brand in the output linkage space which is widely trusted by farmers at scale when it comes to selling their crop”.

Adding to that, Aditya Darolia mentions the journey with the Bull’s team. He said, “After interacting with APMC players we realised how traditional players are misusing their monopsony and farmers not getting clarity about the prices they get for the quality of stock. We saw the potential in the business and the way the founders have been executing was impressive when we visited their centres in North Gujarat”.

Bull Agritech’s recent success in securing $100K (Rs 8 million) pre-seed funding led by PedalStart speaks volumes about the company’s strong potential and the agricultural sector’s growing interest in disruptive technologies. With PedalStart’s unwavering support and expertise, Bull Agritech is well-positioned to become a driving force in the long-awaited green market revolution, ushering in a new era of equitable and sustainable agricultural practices for the nation.

 Company plans to use funds to accelerate