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

The proceeds from this Green Bond will be used for financing climate smart agriculture solutions across different agriculture value chains in the country.

Samunnati, a leading agri value chain enabler, achieved a landmark milestone with the successful issuance of its first-ever Rs 50 crore Green Bond, a landmark achievement for climate financing in the Indian Agriculture sector.  Northern Arc Capital, a leading digital lending platform, has been the primary subscriber for this issuance.

The proceeds from this Green Bond will be used for financing climate smart agriculture solutions across different agriculture value chains in the country, this pioneering effort aligns perfectly Samunnati’s mission to empower smallholder farmers and promote sustainable development.

 “We have successfully raised Rs 50 crore through the issuance of Green Bonds. This is a significant milestone Samunnati’s team has achieved so far towards sustainable finance and environmental responsibility. The funds raised will support adoption of climate-smart agriculture solutions across different agriculture value chains in the country. Partnering with Northern Arc Capital marks a significant step towards empowering rural communities and building a greener future. Northern Arc’s subscription underscores the confidence they have placed in Samunnati’s vision and reinforces the collective efforts toward creating a positive environmental impact”, said Anil Kumar, CEO and Founder of Samunnati.

This Green Bond issuance not only marks a significant milestone for Samunnati but also sets a precedent in the agriculture sector. By leveraging innovative financial instruments, Samunnati aims to accelerate climate action in Indian agriculture.

Samunnati is paving the way for the future of the Indian agriculture landscape with its long-term, community-centric approach to sustainability initiatives and programs. By blending awareness with on-ground execution, enabling financial inclusivity, and harnessing the power of technology and data, Samunnati is setting a benchmark for addressing the challenges of climate change. This forward-looking strategy not only supports the immediate needs of farmers but also lays the foundation for resilient and sustainable agricultural growth, ensuring that Indian agriculture thrives amidst changing climate.

The proceeds from this Green Bond will

Agribusiness, Agrotech, Collaborations, Company News, India, Start ups

The collaboration aims to strengthen the FPO network by improving access to inputs, technology services, credit, and investments.

Chennai-based agri-value chain enabler Samunnati announced a significant partnership with the Punjab and Haryana-based Northern Farmers Mega FPO. This federation comprises over 50 Farmer Producer Organizations (FPOs) across multiple states in northern India. The collaboration aims to strengthen the FPO network by improving access to inputs, technology services, credit, and investments. It also focuses on promoting sustainable farming practices and creating new opportunities in rewarding markets, including exports, to benefit farmers.

A key objective of the partnership is to enable the FPOs to adopt sustainable agriculture technologies to bring down costs and adapt to climate change.  Another innovative solution focuses on transforming paddy straw waste into clean energy alternatives like compressed biogas, biomass pellets, and biochar, among others. This strategic partnership will help to manage agricultural waste and lower carbon emissions in the region, besides addressing the annual problem of regional pollution caused by stubble burning.

Speaking of the partnership, Samunnati’s Founder and CEO Anil Kumar SG commented, “This collaboration with Northern Farmers Mega FPO is a step toward building a sustainable and economically viable ecosystem for farmers. Together, we are committed to helping farmers to grow, trade more profitably and contribute to a sustainable agri economy in India. The partnership between Samunnati and Northern Farmers’ FPO will present the country with a unique model of collaboration between a company owned by farmers working closely with a market leader to jointly bring prosperity to farmers.”

Puneet Singh Thind, Founder & Director of Northern Farmers Mega FPO, hailed the partnership with Samunnati as a significant milestone for their farmer members. “Through this collaboration, we’re equipping our FPOs with critical access to resources, sustainable practices, new markets and access to the required credit that promise to uplift our farmers and broaden their growth horizons,” he added.

The collaboration aims to strengthen the FPO

India, Interaction

National Association of Farmer Producer Organisations (NAFPO), in collaboration with Samunnati published ‘State of the Sector Report 2024’ during the event.

The National Association of Farmer Producer Organisations (NAFPO), in collaboration with Samunnati, published the “State of the Sector Report 2024” on October 28, 2024. This comprehensive analysis intends to stimulate strategic policy-making and sectoral growth by shedding light on the primary challenges that Farmer Producer Organisations (FPOs) in India face as well as the expanding opportunities that they have been presented with.

Distinguished dignitaries such as Professor Ramesh Chand of NITI Aayog, Faiz Ahmad Kidwai, Additional Secretary, Ministry of Agriculture & Farmers’ Welfare, Pravesh Sharma Director of NAFPO, Indian Administrative Service and, and Dheeraj Sahu from State Food and Agriculture Corporation (SFAC) were present at the event. The “State of the Sector Report 2024” is a treasure trove of information that can assist in bridging gaps and improving the effectiveness of the FPO. It is a valuable resource for agencies, parliamentarians, and stakeholders.

“India is on a mission to develop FPOs as thriving enterprises, driven by national policies and grassroots input. For the purpose of ensuring that agricultural expansion is approached in a unified manner, we are strongly encouraging states to develop their own FPO policies that are in line with the national plan”, said Faiz in his address.

Faiz also stated that the states ought to follow their own policies in order to strengthen the FPO mission in India.

In particular, he discussed the 10,000 FPO initiative, which has been of assistance to over 2.5 million farmers, as well as the objective of the Ministry of Agriculture to increase the number of FPOs. According to Kidwai, the Ministry intends to extend the scope of this initiative so that it encompasses a greater number of farmers. Through the provision of marketing links, input licensing, and simplified access to markets, this will contribute to the promotion of revenue growth driven by businesses.

A total of 30,000 licences for the distribution of fertiliser, seeds, and pesticides have been distributed to farmer collectives in the past two months as part of the input licensing process that is administered by the Ministry of Agriculture. Kidwai claimed that the government should provide financial instruments to the FPOs when they require financing on a much larger scale and at a lower interest cost. He stated that the cost of financing for the FPOs is high when they access financing from non-banking finance businesses.

“By participating in the urban job market, women gain skills, resource and exposure that can contribute significantly to their leadership roles within FPOs. This trend fosters a dual benefit: it enhances individual economic agency while bolstering the collective strength and sustainability of FPOs, thereby promoting inclusive development across rural and urban landscape,” stated Anil Kumar SG, Founder and CEO, Samunnati.

“The dynamism and energy in the FPO sector are palpable, as are the outstanding challenges of building robust business capabilities, accessing capital for investments and operations, repurposing the farm to achieve climate resilience and above all, finding remunerative markets. We remain hopeful that the FPO sector will continue to strengthen to address old and new challenges in the coming year,” said Pravesh Sharma, Chairman Steering Committee, NAFPO.

National Association of Farmer Producer Organisations (NAFPO),

Agribusiness, Collaborations, Company News, India, Inputs, Start ups

Under the Memorandum of Understanding (MoU), Bayer and Samunnati aim to provide Indian farmers with access to quality agri-inputs through FPO Agri-input Retail Stores.

 Bayer, a global enterprise with core competencies in the life science fields of healthcare and agriculture, announced its partnership with Samunnati, a leading agri value chain enabler company, dedicated to empowering smallholder farmers, to usher farmers of Farmer Producer Organisations (FPOs) with access to premium products with the goal to deliver optimal solutions to smallholder farmers.

Under the Memorandum of Understanding (MoU), Bayer and Samunnati aim to provide Indian farmers with access to quality agri-inputs through FPO Agri-input Retail Stores. As part of the association, FPO farmers will be able to leverage the strength of collectivization, facilitating farmers with ample opportunities to become key stakeholders in the ag value chain.

Samunnati will support in aggregating demand from the FPOs, while Bayer will, once purchase orders are placed by FPOs, fulfill the orders through their distributors, ensure timely and efficient delivery of customized products and solutions. To facilitate easy access to quality inputs, agronomic support, and encourage agri-technology knowledge transfer, Bayer will leverage its field force to actively engage with farmers in the field, thereby supporting the FPOs to build a successful business model.

Together, both parties are committed to empowering farmers with the resources, knowledge and market access they need to thrive. The association aims to create a sustainable and farmer-centric ecosystem for farmers in India, ensuring theyfind reliable markets for their produce, ultimately contributing to their growth and prosperity.

Speaking on the partnership, Mohan Babu, Chief Operating Officer Bayer Crop Science India, Bangladesh & Sri Lanka, said, “FPOs have come a long way in India to become successful entities supporting farmers with aggregating input demand and produce supply. We are glad to join forces with Samunnati who bring in their vast network of FPOs and enable credit to kick-start the FPOs input business, so that their farmers can benefit from Bayer’s high-quality products and agronomy knowledge.”

Commenting on the MoU, Anil Kumar SG, Founder and CEO of Samunnati, said, “We are thrilled to partner with Bayer Crop Science to further empower Farmer Producer Organizations (FPOs) by improving access to quality inputs and agronomic expertise. This collaboration strengthens Samunnati’s mission to create a resilient agricultural ecosystem that enables smallholder farmers to thrive, improving both their productivity and profitability. By combining Bayer’s expertise in high-quality inputs with Samunnati’s deep-rooted connections in the farming community, we are offering a holistic solution that addresses the key challenges faced by farmers today”

Under the Memorandum of Understanding (MoU), Bayer

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

Prominent banks Kotak Mahindra Bank, Indian Overseas Bank, ESAF and Karur Vysya Bank join hands with Samunnati.

Samunnati, a leading agri value chain enabler company, dedicated to empowering smallholder farmers, has successfully raised Rs 1123 crore in debt funding in first half (H1) of FY25. The highlight of this financial year is the successful onboarding of 14 new lenders, who have contributed around Rs 480 crores, which is a significant milestone in Samunnati’s growth journey. The new lenders include prominent banks like Kotak Mahindra Bank, Indian Overseas Bank, ESAF and Karur Vysya Bank and Impact lenders Blue Earth and Enabling Qapital.

Samunnati’s robust business growth, meaningful impact, and reputation as a reliable partner in rural development have instilled confidence among investors.  Samunnati has also explored Innovative funding routes, such as online bond platforms wherein over 5500 investors have subscribed to Samunnati’s bonds, demonstrating the growing confidence in the company’s mission and financial stability.

Anil Kumar SG, Founder and CEO at Samunnati said, “At Samunnati, our relentless focus on deepening and strengthening the entire agricultural value chain has allowed us to achieve remarkable milestones in just six months of FY24-25. By integrating financial solutions with market access and capacity building, we are creating a robust ecosystem that empowers farmers and FPOs at every stage of the value chain. The funds will enable us to scale further, unlocking greater opportunities for India’s agri-community and bringing us closer to our vision of sustainable growth and rural prosperity.”

He added that despite the rising interest rates and a tightening credit environment, Samunnati has managed to reduce the average cost of borrowings for sanctions by 20 basis points. This reflects the company’s efficient operations and strong creditworthiness.

Samunnati’s impressive financial growth story continues this year also, building on the strong momentum of last year (FY23-24) where it had secured funding totalling $155 million (Rs 1158 Crore) for the whole financial year. During last FY, it had attracted investments from investors like USDFC, Credit Saison, Tata Capital, Poonawalla, Hinduja Leyland Finance, Wint wealth, Altifi, Alteria Capital, and Anicut Capital. 

Prominent banks Kotak Mahindra Bank, Indian Overseas

Company News, Finance, Funding, India, Start ups

The recent raised funds will enable Samunnati to strengthen its business operations and customize its solutions to meet the specific needs of different value chain players.

Samunnati, a leading agri value chain enabler, had an impressive $155 million in funding in the financial year 23-24. Now, setting the stage for the current financial year, Samunnati has begun FY24-25 by securing a $5 million in debt funding through an External Commercial Borrowing (ECB) from Enabling Qapital, a renowned global impact investment advisory firm.

In FY 23-24, Samunnati had made significant strides by securing $155 million in funding, comprising $132 million in debt funding and an additional $23 million in equity funding through the pre-series E round, all accomplished amidst a challenging funding landscape.

The recent strategic investment by Enabling Qapital is poised to propel Samunnati’s vision of revolutionizing the Indian agricultural sector by empowering small and marginal farmers. This infusion of fresh capital will facilitate Samunnati’s expansion efforts, enabling it to reach a broader spectrum of farmers across India while advancing financial inclusion initiatives.

Anil Kumar, Founder and Group CEO at Samunnati, emphasised, “This strategic funding from Enabling Qapital is a testament to the confidence investors have in the role Samunnati plays in bridging the credit gap for smallholder farmers. With these resources, we are well-positioned to empower countless farmers, drive agricultural progress, and contribute to a more prosperous rural India.”

Moreover, in the recent years, Samunnati has emerged as a few companies in this sector, where reputed investors have shown their confidence and have come onboard. During FY23-24, it garnered investments from 13 esteemed lenders, comprising a prestigious roster including USDFC, Credit Saison, Tata Capital, Poonawalla, Hinduja Leyland Finance, Wint wealth, Altifi, Alteria Capital, and Anicut Capital.

The recent raised funds will enable Samunnati to strengthen its business operations and customize its solutions to meet the specific needs of different value chain players. By enabling access to finance, Samunnati empowers farmers to invest in their agricultural activities, thereby improving yields and increasing their income. This not only contributes to the overall growth of the agricultural sector but also fosters rural economic development.

The recent raised funds will enable Samunnati

Agrotech, Company News, Finance, India, IT, Singapore, Start ups

With this deal, finbots.ai’s fast growing client base stretches to 10 countries across APAC and MEA markets while Samunnati strengthens its credit-risk management using world-class AI-enabled platform.

Chennai based Samunnati, India’s largest agri enterprises, today announced signing an agreement with Singapore-headquartered B2B SaaS FinTech finbotsAI, to transform credit risk management using AI. With this, Samunnati becomes the first Agri Enterprise in India to incorporate advanced AI-based solutions into a key pillar of its business, supporting its mission to drive greater financial inclusion for smallholder farmers and agri enterprises. Through this partnership, Samunnati has become the first client of Accel-backed finbotsAI in India.

With creditX, finbots.ai’s AI-powered credit modelling platform, Samunnati will be able to develop high accuracy custom credit models on demand, enabling them to scale their agri and MSME supply chain financing business with reduced risk. Samunnati will also be able to process new applications instantly, resulting in improved efficiency and greater agility in operations.

With this deal, finbots.ai’s fast growing client base stretches to 10 countries across APAC and MEA markets while Samunnati strengthens its credit-risk management using world-class AI-enabled platform.

Samunnati made the decision to sign with finbotsAI after an extensive evaluation via a Proof-of-Concept using historical data. With creditX, finbots.ai was able to reduce model development time from 3 months to 4 days with a significant increase in predictive accuracy, demonstrating potential upsides in revenue and operating efficiencies.

Commenting on the partnership, Anil Kumar SG, CEO and Co-Founder, Samunnati, said, “We believe that innovation is the key to solve the access to finance paradox and to unlocking the potential of Indian agri. The partnership with finbotsAI aligns perfectly with our vision of leveraging technology to serve our customers better and contribute to the growth of the Indian Agri.”

Sanjay Uppal, Founder & CEO, finbots.ai commented, “We are proud to make our foray into an exciting market like India with an industry leader in Samunnati. We have seen enormous success in enabling lenders in Southeast Asia and Africa to safely lend to new segments and accelerate financial inclusion and are confident our transformative AI platform, creditX, will have a similar impact in India. We are seeing creditX become a preferred option for lenders globally, and this deal reinforces the desire for cutting-edge technology solutions that solve legacy challenges.”

With this deal, finbots.ai’s fast growing client

Company News, India, Interaction, Start ups

  The two-day event to host 170+ lighthouse FPOs from across the nation.

Samunnati, one of India’s largest agri enterprises, is hosting one of its kind flagship conclaves with 170+ lighthouse FPOs from across the country. The two-day conclave-themed Building a Resilient FPO Ecosystem will be held in Hyderabad between June 23 and 24, 2023. Samunnati believes that collectivization is the bedrock of larger and deeper socio-economic transformation, and this flagship is envisaged to be a unique platform for top-performing FPOs to learn, share and grow together.

The event ‘for the FPOs, and by the FPOs’ aims to create recognition for those making a positive, sustainable, and long-lasting impact on farmers’ livelihoods. The conclave will give a platform to the chosen FPOs to narrate their stories of struggles, success and share their learnings with the rest of the FPO ecosystem at large, inspire them to become thriving commercial enterprises and ultimately benefit the farmers of India.

The conclave will feature carefully curated panel discussions around 4 key themes: “Addressing the ‘access to finance’ paradox”, “Opening FPO mindset to AgTech Innovations”, ‘Access to Markets – Opportunities & New developments’ and ‘Climate Smart Practices & Regenerative Agriculture’.

Eminent Panelists such as S Ramesh – CEO, Nabkisan, Balakrishnan, Vrutti,CEO, Ashish – Chief Strategy Officer, Garuda Aerospace, Ananya Ramakanth, UNESCO, MGIEP, Tushar Devidayal, Devidayal Solar Solutions, Ramanjaneyalu,- Centre for Sustainable Agriculture (CSA) will be joining their respective panels to share valuable insights and thoughts for the benefit of the FPOs and other ecosystem stakeholders. All panels will have equal representation from FPOs who have done well in the themed areas.

In addition to panel discussion eminent speakers like Dr Shaik N Meera Director ICAR-ATARI, C S Reddy, APMAS, Shireesh Joshi, ONDC, Arun Raste, NCDEX will be delivering speeches themed broadly as “Building Resilient FPOs, digitally”.

Tentpole event of Conclave is the Gala evening on 23rd June, where the Chief Guest MR Muthukumar, Group CFO at Olam Group Limited and CEO – Operations at Olam Agri, Singapore will address the audience around the theme Making FPOs Sustainable and Profitable. Following the same the ‘State of Sector Report 2023 – Farmer Producer Organisation in India’ published by NAFPO will be launched. Anish Kumar, Managing Director, Transforming Rural India Foundation, will dive deep into Highlights & Key Implications for the year ahead.

Speaking at the conclave attended by important value chain stakeholders in addition to policymakers, government, industry experts, and ecosystem players including startups, Anil Kumar SG, Founder & CEO, Samunnati said “This is first of its kind congregation of top performing FPOs in the country who are the torchbearers for the entire ecosystem. The idea is to use this congregation as a platform to discuss and exchange ideas that made them successful and take them far and wide for the benefit of the entire ecosystem. This will be a great enabler for the nascent FPOs in Agri-ecosystem in the country.”

The conclave will be hosted at Kanha Shantivanam, Hyderabad which in itself is unique in many ways, including the fact that it is a worldwide headquarters of Heartfulness Foundation, set in a sprawling 1000+ Acre green campus.

  The two-day event to host 170+

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

Samunnati has set up an in-situ loan disbursement team to process and make payment to the FPO and to the farmers for the procurement of 5000 MT of Onions.

 Samunnati, one of India’s largest agri enterprises, and Maha FPO Federation have come together to host farmgate procurement of Onion in Maharashtra. The Maha FPO has received orders from the National Cooperative Consumers Federation of India (NCCF) for 5000 MT of onion and gram, which would be procured from FPOs on its roster. Under the program, Samunnati has set up an in-situ loan disbursement team to process and make payment to the FPO and to the farmers for the procurement of this 5000 MT of Onions, instantly under an anchor finance plan to Maha FPO Federation. In addition, 5000 MT Bengal Gram will also be procured under the same program for NCCF.

Over 50 FPOs participated in the program in the districts of Nashik, Pune, and Ahmednagar, where the commodities were graded and kept for future distribution. This program will in a first provide a platform where an FPO Federation can collaborate with an external agency to provide quick door-to-door credit services to its members.

Speaking about the program N Ganesh, Head of the Lighthouse FPO program from Samunnati said, “Farmer requirement in the context of fresh commodities is all about time and our idea is to create a model where we are able to enable the same by addressing the liquidity need at the speed of light”.

Dr Sanjay Pandhare of Maha FPO which is anchoring the program said, “There are times when the prices are right and commodities are available, but working capital is a challenge. Samunnati’s proposal to process and disburse working capital real-time can become a game changer for the future of F&V farmgate procurement”.

Samunnati will subsequently expand the same program to other Maharashtra districts.

Samunnati has set up an in-situ loan

Agrotech, Company News, Foodgrains, India, Start ups

By becoming IndG.A.P certified, FPOs can demonstrate their commitment to producing safe and high-quality products, which can increase their marketability and access to better-paying markets.

Sri Rapthadu Mandala Raithu Utpatti Darula MACS Limited, a farmer producer company in Anantapur district of Andhra Pradesh, supported by Samunnati and eFresh, received IndG.A.P certification for foxtail millet. This feat by a farmer producer company in India assumes great importance particularly, in this International Year of Millets (IYoM 2023), under the ambitious “Make in India” initiative by the Government to ensure Indian millets have access to global markets. 

Commending the FPC on receiving the certification, Anil Kumar SG, Founder & CEO, Samunnati said “Adoption of GAP verified by a robust certification will enhance value realization by farmers and make India globally competitive in agri exports. This is why Samunnati spearheaded the promotion of IndG.A.P standards with eFresh, an expert body on global food safety standards .This achievement needs to reach all the FPOs across India covering all major crops and commodities. It is heartening to see our efforts are bearing fruits and paving the way to make India the “Millet bowl of the world” in the near future, facilitate export and increase income to the farmers.”

Murali, CEO of Action Fraternity, that supported the FPC for obtaining the certification mentioned, “We feel very happy and privileged to get the IndGAP certification as we aspire to become one of the reliable and reputed suppliers of millets to the global markets. We are grateful to Samunnati and eFresh Agribusiness Solutions for their enormous all-round support and to the Government for taking proactive efforts to create more markets for Indian millets globally under the International Year of Millets 2023 initiative.”

Despite being one of the largest producers of millets in the world, India exported millet products worth USD 34.32 million during the fiscal year 2021-22, which is relatively small. With growing global demand for healthy and sustainable food options, there is potential for India to increase its exports of millet products in the coming years. To achieve this, the Indian Government under the flagship initiative IYoM 2023 aims to promote the production, processing, and marketing of millets both domestically and internationally.

Commenting on the occasion, Srihari Kotela, Managing Director, eFresh Agri Business Solutions Pvt Ltd, said “It gives us great satisfaction to see the first Farmer Producer Company in India getting certified to IndG.A.P for foxtail millet production conforming to international Standard ISO 17065. This is a great step in the right direction to facilitate increased exports and enhanced income, particularly, for millet farmers, majority of whom are smallholders.”

Certification schemes like IndG.A.P are designed to help Indian farmers and exporters meet global food safety standards, which is essential for accessing global markets. IndG.A.P certification is recognized as a credible and reliable certification program in India, and it is currently being benchmarked against global standards like GlobalG.A.P to further enhance its recognition and credibility in the international market covering 120 countries.

By obtaining IndG.A.P certification, Indian farmers and exporters can demonstrate their compliance with international food safety standards, which can help to increase their access to global markets. IndGAP certification also provides a framework for continuous improvement in farming practices, which can help to improve the quality and safety of agricultural produce over time and will strive towards UN Sustained Development Goals.

“We aim to get at least 100 FPOs certified under IndG.A.P in the near future. By becoming IndG.A.P certified, FPOs can demonstrate their commitment to producing safe and high-quality products, which can increase their marketability and access to better-paying markets. Samunnati continues to engage with the FPOs providing holistic support to make them commercially viable.” added Anil.

By becoming IndG.A.P certified, FPOs can demonstrate

Agrotech, Company News, India, Start ups

It aims to enable its affiliated farmers and the larger ecosystem to become more efficient and productive via protective farming, in turn increasing its returns.

GROWiT, India’s leading Direct-to-Farmer (D2F) protective farming company, announces a partnership with Samunnati, an open agri network. The partnership will increase awareness and penetration of protective farming techniques and products among farmers associated with Samunati and its farmer producer organizations (FPOs).

GROWiT aims to help them get an increment in yield and per hectare output. This development is part of its larger mission to help double farmers’ income by 2030. Samunnati, based in Chennai, is India’s leading open agri networks serving the entire value chain with its solutions, including Agri Commerce and Agri Finance. By collaborating with GROWiT, the company aims to enable its affiliated farmers and the larger ecosystem to become more efficient and productive via protective farming, in turn increasing its returns.

Commenting on the partnership, Saurabh Agarwal, Director and CEO of GROWiT, said, “This partnership is not about GROWiT and Samunnati alone. We have always promoted protective farming techniques because of the benefits they offer to farmers in terms of crop quality, yield, and carbon footprint. If we achieve the goal of doubling farmers’ income by the end of this decade, it will benefit the entire agriculture industry and farmer community in India.”

Echoing the sentiments, Samunnati, said, “We are pleased to be associated with GROWiT. We have partnered with them to spread awareness about protective farming and how it can help our affiliated farmers increase their yield in an economical and sustainable way. This collaboration will also give us more avenues to increase our return.”

For the Surat-based D2F agritech firm, this development also translates to an increase in revenue while also offering its franchise owners increased customer (farmer) reach, which would result in an increase in sales and their income. GROWiT recently entered into technical collaboration with KVK Baramati and will continue to push its efforts towards empowering Indian farmers.

It aims to enable its affiliated farmers

Agrotech, India, Start ups

A total of 252 applications were received from aspiring start ups across India for MANAGE-Samunnati Agri-Startup Awards

The National Institute of Agricultural Extension Management (MANAGE), in association with Samunnati presented the MANAGE-Samunnati Agri-Startup Awards to recognise impact-driven Agri and Agri-Tech start-ups dedicated to rebuilding the agriculture development ecosystem and supporting farmers through technological innovations. In the first edition in 2021, a total of 20 Awards at the five regional (17) and national (03) were given and a total cash prize of Rs 17.75 lakh for the start ups was awarded by Samunnati.

In the 2022 edition, applications from the Agri startups across India and nominations of startups from National level Agricultural institutions and Agribusiness Incubators were invited through a completely online process.

A total of 252 applications were received from aspiring startups across India. Twenty-one eminent professionals in agriculture and allied sectors evaluated the applications objectively and independently. Major focus of the evaluation was on impact creation, farmer connect, and gravity of the problems addressed by the startup along with progress made. A total of 32 awards, comprising 3 awards at the National level, 27 at the State level and 2 women entrepreneurs were awarded and selected start ups were invited to the award ceremony held on Sep 14, 2022, at MANAGE. Shobha Karandlaje, Minister of State for Agriculture and Farmer Welfare, Government of India, graced the occasion as the Chief Guest and presented the awards to the winners recognizing their contributions to improving the agri ecosystem.

These start ups will be supported by MANAGE and Samunnati beyond awards and recognition. An investment meet is planned for the startups where the start ups will be given an opportunity to present their business model for funding with venture capital, angel networks and debt funding institutions. MANAGE will also be extending support through connecting the start ups with other Agri startups in the ecosystem, AC & ABC Agripreneurs, and Farmers through FPOs for backward linkages and with Agri business firms for the forward linkages. 

Samunnati with its initiative “Samaarambh”, is nurturing over 100 agri-focused start ups striving to address chronic challenges of the agri value chain for the past two years across India. MANAGE- Samunnati Agri-Start up Awards creates a platform and provide a great opportunity for the start ups in the coming years and establishes a benchmark for the start ups in the agricultural ecosystem.       

A total of 252 applications were received

Agrotech, Interaction, Opinions

 By Anil Kumar SG, Founder and CEO, Samunnati

Indian agriculture is cruising on the IT superhighway fueled by increasing digitisation, leading to low cost of acquiring data on everything from land records, topography, soil conditions, to crop development, weather-related data collected by drones and satellites. Application of technologies has also introduced new funding opportunities for investors, and startups, which are now striving to tackle the major challenges that farmers face. 

India’s agriculture and animal husbandry sector demonstrated remarkable resilience even during the COVID-19 pandemic. Valued at $370 billion, the sector continues to be the principal source of income for over 40 per cent of the population and contributes a fifth of the country’s GDP (FY 2021). But the sector has been plagued for long by chronic structural issues and inefficient commodity value chains, since 86 pe cent of India’s farmers belong to the small and marginal category.

India still loses close to 40 per cent of its horticulture production mainly due to fragmented and disconnected supply chains, poor post-harvest management, lack of processing facilities, lack of connectivity via roads, absence of scientific storage during distribution, and so on. Farmers neither have access to timely information nor actionable advice and price signals do not reach them in time. Hence, overall, the agri commodities supply chains are operating at sub-optimal capacities.

Role of innovations and technology

Despite chronic issues such as low literacy levels, poor digital literacy, inadequate infrastructure and lack of access to formal financial systems, India has made huge progress on all these fronts in the last few decades. Farmers adopt those technologies or innovations that are simple to understand, easy to use, and give demonstrable results on the field.

Scale-neutrality is another important factor that is vital to ease the technology transition for farmers, especially, the use of digital tools. The COVID-19 pandemic in fact, contributed towards pushing farmers towards the ‘digital advisory’ model. Many Indian AgTech companies currently providing innovative products for enhancing traceability, cutting wastage in supply chain, real time weather monitoring or pests and disease alerts, are helping the farmers, mainly smallholders, get connected to the wider ecosystem and vice versa.

Several AgTech players support farmer collectives (Farmer Producer Organizations/ Farmer Producer Companies) through digitisation. Recently, the Indian government also launched an initiative to establish 10,000 farmer-owned cooperatives by 2024. When FPOs are coupled with e-commerce B2B and B2C platforms at the front end, commodity supply chains transform into demand-driven and market-oriented value chains by eliminating inefficient processes and intermediaries. FPOs can facilitate faster adoption of productivity-boosting technologies by leveraging economies of scale and building the necessary infrastructure. All these are slowly but steadily helping the commodity value chains become lean, and efficient.

Innovation-led growth

Among all the issues, credit remains the most important for a farmer. Equally important is for farmers to have access to formal financial sources to avoid exploitation by indiscriminate agents or money lenders. Easing access to finance will help risk-averse farmers invest in better quality inputs, and technologies, which will ultimately enhance their incomes. Tech-driven fintech companies are creating innovative products and services to suit those who traditionally remained ‘unbankable’ for long in the agri value chains, mainly the smallholder farmers. Synergistic partnerships are critical and evolution of newer concepts like Co-lending arrangements wherein traditional banks are partnering with the new-age, digitally driven fintech NBFCs, which can lead to enhanced financial inclusion to help the underserved and the unserved like MSMEs, and tier 3, 4 cities. 

To read more click on https://agrospectrumindia.com/e-magazine

 By Anil Kumar SG, Founder and CEO,

Finance

This partnership will enable Samunnati to scale its outreach to FPOs with customised financial solutions at affordable interest rates, leveraging the vast resources available with SBI

Samunnati, India’s Open Agri Network has entered into the largest co-lending partnership in India aimed at the Farmer Producer Organisation (FPO) space with SBI, India’s largest bank. The initial programme amount is Rs 100 Crores. 

This partnership will enable Samunnati to scale its outreach to FPOs with customised financial solutions at affordable interest rates, leveraging the vast resources available with SBI. The partnership will enhance the outreach for SBI channel credit to the under-served segment of small-holder farmers in the agriculture sector, by leveraging Samunnati’s outreach and nuanced understanding of the FPO sector. 

SBI and Samunnati has also entered into a non-financial MOU to develop the FPO Sector, to mainstream FPO as an asset class and increase awareness of this class of farmer-owned institutions in the Banking sector. 

Samunnati works with a growing network of 3000+ Farmer Collectives with a member base of over 6 million farmers with solutions spanning Agri Finance, Agri Commerce, and advisory services.  Speaking to the Founder & CEO of Samunnati, Anil Kumar SG said, “SBI’s pan-India presence and deep interest in Financial Inclusion of the small-holder farmers are enablers for helping an FPO avail an array of financial services. Our collective ambition is to make markets work for smallholder farmers by making available adequate, affordable and timely credit to the FPOs.”

This partnership will enable Samunnati to scale