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HomePosts Tagged "series A funding"
Agribusiness, Company News, Finance, Funding, India, Speciality Chemicals, Start ups

With this new round, the company plans to double down on their R&D capabilities and add more geographies where key customer segments lie.

Speciality chemical manufacturing startup Scimplify announced today that it has raised USD 9.5 million in Series A funding. The round was led by Omnivore, alongside Bertelsmann India Investments and existing investors 3one4 Capital and Beenext. Scimplify is a leading specialty chemicals company in India offering a science-first, end-to-end contract manufacturing platform for agrochemicals, pharmaceutical APIs, and flavours & fragrances. In 2023, the global speciality chemicals market was valued at over USD 800 billion, with agrochemicals and pharmaceuticals contributing to more than 60 per cent of the market. Notably, India stands as the 2nd largest exporter of agrochemicals worldwide, and the overall Indian chemical industry is poised to reach double in output by 2027. Scimplify’s diversified services encompass contract research and commercial chemical manufacturing across various sectors, including agrochemicals, pharmaceutical APIs, and flavours & fragrances. With increasing demand for new formulations to support the green transition, shifts in global supply chains away from China and towards India, as well as manufacturing incentives from the Indian government, Scimplify is strategically positioned to cater to a substantial customer base in India and across the globe.

Based out of Bengaluru, Scimplify was founded in 2023 by Salil Srivastava and Sachin Santhosh. Salil previously led the chemicals vertical at Zetwerk and began his career with ITC Limited, while Sachin is an IIT-Madras alumnus who was earlier with Bizongo and began his career with of Business. The founders launched Scimplify to enable comprehensive solutions for the global specialty chemical industry with an emphasis on green manufacturing, quality, and innovation. With this new round, the company plans to double down on their R&D capabilities and add more geographies where key customer segments lie.

Salil Srivastava, Co-Founder of Scimplify, stated, “The backbone of Indian specialty chemical manufacturing are mid-sized factories that have built in-depth, chemistry specific expertise over decades. However, there is significant available capacity to double the national output in the next 5 years with the given infrastructure. Scimplify brings together unique products to these factories using cutting edge R&D along with consistent demand from global customers to utilize these capacities and provide a tech-enabled, full-stack offering to the modern agile customer.”

Mark Kahn, Managing Partner of Omnivore, observed, “Scimplify’s science-driven platform delivers affordable, sustainable agrochemicals and green chemistry intermediaries. By streamlining R&D and manufacturing of sustainable formulations, they’re meeting global demands and positioning India as a leader in sustainable manufacturing of chemical intermediaries. Their approach satisfies regulatory requirements, consumer needs, and environmental concerns, elevating industry standards.”

Rohit Sood, Managing Partner of Bertelsmann India Investments, added “We are excited to partner with Salil & Sachin on their venture to create value in the specialty chemicals industry through a full stack approach. Their unique science, technology & supply-first approach is best suited to leverage the increasing diversification of global supply chains while providing a big boost to the nation’s ‘Made in India’ drive.”

With this new round, the company plans

Agribusiness, Company News, Finance, India, Start ups

Agrizy aims to transform India into a global food processing hub by helping FPOs and MSME agri-processors access export markets.

Agri-processing platform Agrizy announced today that it has raised USD 9.8 million (Rs 82 crores) in Series A funding. The round was co-led by Accion and Omnivore, with participation from Capria Ventures, Thai Wah Ventures, and existing investor Ankur Capital.

India’s $400 billion agri-processing market, though growing 9 per cent annually, faces a bottleneck: only 10 per cent of farm produce gets processed today. This pales in comparison to global leaders like China (40 per cent) and developed nations (70 per cent). India has more than 2 million food processing MSMEs, which operate significantly under capacity and struggle to find B2B customers, especially in export markets.

Agrizy is helping to solve these challenges, providing MSMEs with a fully managed B2B marketplace for agrifood supply chains and processing. The platform connects every stakeholder in the agrifood processing ecosystem to optimally discover and fulfil transactions. The startup works closely with agrifood processing MSMEs, offering them a suite of digital services to generate additional long-term revenues and improve their operating margins, while streamlining their procurement and sales cycles.

Agrizy was co-founded in 2021 by Vicky Dodani and Saket Chirania, who previously worked in senior roles with leading Indian startups including Blackbuck, Bizongo, and Zoomcar. With the new funding, Agrizy aims to expand into new product areas and geographies; launch CDMO and value-added advisory services; and offer financial services to MSME processors and farmer-producer organizations (FPOs). 

Vicky Dodani, Co-founder and CEO at Agrizy, said, “Agrizy aims to transform India into a global food processing hub by helping FPOs and MSME agri-processors access export markets and comply with global quality standards, while offering these underserved stakeholders working capital from formal financial institutions. The current investment will empower Agrizy to actively drive these crucial initiatives in both local and global markets.”

John Fischer, Chief Investment Officer at Accion, said: “Agrizy is seeking to reshape traditional agri-processing by providing a robust marketplace and support to improve production. The company aims to also address the lack of quality financing for small processors and the Farmer Producer Organizations that supply them, helping to increase incomes in rural communities. Through our partnership with Agrizy, we will leverage Accion’s global expertise to help the company grow, connecting many processors and smallholder farmers to responsible financial services and formal markets for the first time.”

Mark Kahn, Managing Partner at Omnivore, stated, “We are proud of our partnership with Agrizy and their vision of upgrading the Indian agri-processing sector. The company’s foray into contract manufacturing is critical for streamlining intricate, export-oriented supply chains. By prioritizing innovation and sustainability, Agrizy is positioning India’s food processing industry to meet evolving global market needs.

Agrizy aims to transform India into a

Agribusiness, Dairy, Finance, India, Start ups

The company plans to use funds for manufacturing, team building, and expansion in Hyderabad and Bengaluru.

Sid’s Farm, the dairy brand announced that the company has secured $10 Mn (Rs 83 Cr) in a Series A funding round co-led by Omnivore and Narotam Sekhsaria’s family office. The Telangana-based startup plans to use the freshly raised money to strengthen its manufacturing capabilities, team building and expanding to cities like Hyderabad and Bengaluru.

The Telangana-based D2C dairy startup plans to use funds for manufacturing, team building, and expansion in Hyderabad and Bengaluru.

Kishore Indukuri, founder of Sid’s Farm, said, “This investment will accelerate our growth in Hyderabad and Bengaluru. We strongly believe that there is an opportunity to serve over 1,00,000 families every day in these two markets alone.”

“Premium dairy brands and products over D2C platforms are expected to lead (the) growth (in the overall Indian dairy space) We see Sid’s Farm emerging as a key player in this space with its commitment to antibiotic-free, hormone-free, preservative-free milk and milk products,” said Reihem Roy, partner at Omnivore.

Founded in 2016 by Indukuri, Sid’s Farm currently serves around 20,000 customers daily on a subscription basis, offering a range of products, including milk, and milk products.

The company plans to use funds for

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

The funding round was led by the company’s incoming chairman, Erik Ragatz, former Partner and current Senior Advisor of Hellman & Friedman.

Agritech startup, Superplum, revolutionising the fresh fruit supply chain announced that the company has raised $15 million in its Series A funding round to expand its business. The funding round was led by the company’s incoming chairman, Erik Ragatz, former Partner and current Senior Advisor of Hellman & Friedman. Ragatz joins a group of existing investors, including Mark Siegel, Dan Rose, Steve Jurvetson, Rick Kimball, Binny Bansal, and Kabir Misra.

Shobhit Gupta, Co-founder and CEO of Superplum emphasised the importance of technology and investment in transforming India’s fresh fruit supply chain. He said, “The rapidly developing Indian consumer market is becoming increasingly demanding. While India has achieved significant progress in several areas, fresh food still lacks technology and investment.”

Erik Ragatz, Superplum’s new Chairman, expressed his confidence in the startup’s vision. He said, “Superplum is a hugely disruptive player in existing Indian produce markets and has the opportunity to create an incredibly valuable enterprise.”

Apart from selling through Amazon Fresh, Zepto, Swiggy, and Blinkit, the startup also sells its products through major retail chains like Spar, Metro, Lulu, Modern Bazaar, More, and Trent, as well as hundreds of neighbourhood stores in Delhi NCR and Bengaluru.

The startup recently began marketing its branded, traceable products globally. With a world-class supply chain, Superplum sees significant opportunities for premium Indian mangos, litchis, and other tropical fruits.

Founded in 2019, Superplum has developed a direct-from-farm supply chain utilizing proprietary technology and cold-chain infrastructure to fundamentally improve how fresh produce is grown and brought to market. The startup offers a variety of fruits, including mangoes, litchis, apples, grapes, cherries, and plums. Superplum’s vertically integrated cold chain technology extends shelf life and enhances fruit quality, expanding availability across India while reducing food waste and improving farmer incomes. Currently, it works with farmers across 22 Indian states, operating modern sourcing and supply chains for 25 fruits throughout the year.

The funding round was led by the

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

The company plans to utilise the investment to enhance its technological capabilities and extend its operations nationwide.

Ayekart, a leading agrifood fintech platform, has raised USD 6.5 Million (Rs 53 Crore) in a Series A round led by Omnivore, Siana Capital and Unleash Capital. With this capital infusion, Ayekart aims to expand its operations nationwide and cater to a larger audience of FPOs (Farmer Producer Organizations), food manufacturers, distributors, and retailers.

Founded in December 2020, Ayekart launched its commercial operations in September 2021 with a team of six and has since expanded into a team of over 150 members across six locations. The startup provides fintech and supply chain solutions for traditional businesses in the agrifood value chain, boosting efficiency and convenience while preserving trust within the ecosystem. Ayekart today operates in 18 states, has over 9,000 active merchants on its platform, and has successfully facilitated more than 2.5 lakh transactions with over INR 21 billion lifetime GTV (Gross Traded Value). Moreover, Ayekart has been consistently profitable since inception, setting it apart from other agritech companies.

Debarshi Dutta, Co-Founder & CEO of Ayekart, stated, “Since the inception, our unwavering commitment to positively impact the lives of smallholder farmers, Farmer Producer Organizations (FPOs), and agrifood MSMEs across India has been the cornerstone of our journey. We understand the critical pain points that agrifood MSMEs face- the need for market linkages, access to finance, and an efficient technology ecosystem to enhance their businesses. To address these challenges, we have developed innovative fintech solutions tailored to empower FPOs and agrifood MSMEs. Ayekart is not just addressing gaps in the value chain but also driving meaningful change that empowers agrifood MSMEs and fosters sustainable growth across the value chain.”

Commenting on the round, Jinesh Shah, Managing Partner at Omnivore, said, “We are pleased to support Ayekart’s efforts in improving farmers’ lives and providing financial stability. Ayekart’s focus on empowering agrifood MSMEs with its cutting-edge technological approach resonates deeply with our investment philosophy. We are confident that this capital infusion will propel Ayekart’s advancement, stimulating noteworthy progress in both the agricultural and supply chain spheres.”

Sohil Shah, Founder & Partner at UNLEASH Capital Partners, stated, “We are proud to be part of Ayekart’s Series A funding, helping to leverage technology for enhanced financial solutions in the B2B supply chain. This investment is an important long-term step in helping Ayekart fulfill its mission to strengthen its market position and continue delivering value to its stakeholders and customers.”

Unitus Capital was the exclusive financial advisor to the company for the transaction.

The company plans to utilise the investment

Bee keeping, Company News, Europe, Finance, Start ups

Company plans to expand further around the EU, multiplying its impact capacity, from 1 billion protected pollinators in 2022 to 10 billion in 2023.

Italy -based Biodiversity Company 3Bee which operates both in the B2C and B2B protection of ecosystems and pollinators area has raised EU 5 million in a series A funding round. The round was joined by Ag funder Grow impact fund, one of the world’s most active food-tech and ag-tech VCs, Anya Capital, an Italian fund focused on impact venture, and ESA (European Space Agency), who allocated a capital of 700,000 euros for the study of biodiversity through satellites and multispectral imaging.

The company said it plans to use the freshly raised funds to strengthen its biodiversity impact and technology data mapping infrastructure and for recruitment across the international business development, awareness-raising programs, and ESG service development verticals.

The startup, founded in 2017 by Niccolò Calandri and Riccardo Balzaretti, operates as a tech-enabled agent of impact solutions such as regeneration programs for pollinators subsistence and ecosystem rebalancing for biodiversity survival in areas burdened by monocultures, cities, and industrialization.

Just in Europe in the last 20 years, the biodiversity has lost up to 20 per cent of the total species living in France and Germany. France covers the 6th place in the list of countries with the highest number of threatened species. (Source, IUCN red list).

Among the 500 brands, from logistics, real estate, fashion, food, retail, agri, and human care sectors that collaborate with 3Bee in Italy, stands out the partnership with Genagricola, with whom 3Bee is developing regenerative solutions for pollinator-proof agriculture and photovoltaics.

Company plans to expand further around the