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AgroPolicy, Agrotech, Start ups

The initiative targets to support sectors like seeds, fertilisers, warehousing, soil nutrients, harvest/post-harvest crop management, and food processing units

The Uttar Pradesh government has launched a plan to enhance the state’s agricultural value by investing approximately Rs 3,800 crore in agricultural start-ups.

The initiative targets to support sectors like seeds, fertilisers, warehousing, soil nutrients, harvest/post-harvest crop management, and food processing units. The scheme covers agricultural and horticultural crops along with allied farm activities such as pisciculture, sericulture, and food processing.

The state intends to approve a minimum of five agricultural ventures and start-ups each month in all 75 districts. By streamlining the loan process, the government hopes to extend the benefits of the scheme to over 3,000 agricultural entrepreneurs and young farmers.

The funding for this endeavour will be sourced from the Centre’s Agriculture Infrastructure Fund (AIF) scheme, which focuses on investing in medium- and long-term community agricultural assets at the local level. To be eligible for a credit line from designated commercial banks, the project must have a value exceeding Rs 1 crore.

The initiative targets to support sectors like

Company News, Supply Chain, Warehousing

Company to add 36 offices across 16 states to achieve exponential business growth

 Sohan Lal Commodity Management Pvt. Ltd., India’s leading Post-Harvest Management Group (SLCM Group) has announced its business expansion plan for the current fiscal year. The company, currently with 4 offices in Delhi, Bihar, and West Bengal, aims to strengthen its presence pan-India with 36 new offices across 16 states. These Offices “Krishi Vikas Kendra’s” will serve as a connecting thread between the digital application of SLCM and its already present physical network of 9244 warehouses across India (as on April 30, 2022).

The new offices will enable SLCM Group’s growth initiative in the agriculture value chain. Functioning as localized nodes, these offices will enable the organization to strengthen its on-ground support and presence. Farmers, traders, and government bodies will consider the offices as a one-stop solution to avail the entire gamut of services including warehousing, procurement, and Agri financing. 

Recently, SLCM Group received the ‘Patent Certificate’ for its application titled “Methods For Real Time Data Management” from the Patent Office, Government of India, which was originally filed on December 16, 2013. As a result, SLCM Group became the only company in India to have a registered technology patent in the Agri Logistics (Warehousing) segment spanning across 75 years post-Independence.

Capitalizing on the testament of the patent, Mr. Sandeep Sabharwal, Group CEO, said, “SLCM Group is looking forward to scale its ‘Digital Initiative’ vertical. The company is currently developing a mobile application that will offer all of its services on a single platform. With the help of artificial intelligence (AI), machine learning (ML), and Agri Reach – SLCM’s proprietary technology solution – farmers and traders of the country will be connected to the entire post-harvest Agri value chain via a single mobile application.”

SLCM’s proprietary centralized real-time process management system ‘Agri Reach’, has allowed the company to scale up its asset under management (AUM) valuation per financial year from INR 1,394.01 Crore in FY17 to INR 5,519.22 Crore (as on March 20, 2022).SLCM Group through its wholly owned subsidiary Kissandhan has disbursed loans worth INR 2,388 Crores as on 31st March, 2022.

Announcing the footprint expansion,  Sabharwal added, “We are currently working on various other technologies that have the capability to enable the efficient integration of physical infrastructure with digitized enterprises, thereby strengthening the foundation of ‘Phygital’ agriculture supply chain.”

Company to add 36 offices across 16

Agrotech, Foodgrains, Warehousing

Integrated services spanning warehousing, lending and marketplace over its digital platform continues to be game-changer for Arya.ag

Arya.ag, India’s largest integrated grain commerce platform, concluded FY22 on a formidable and strong note both in terms of volumes as well as end-user uptake to further cement the start-up’s position as India’s largest and fastest growing agritech player.  

For the fiscal year gone by, Arya.ag closed with a grain AUM of USD 1.1 Billion bolstered by a rapid surge in commerce volume with Gross Transaction Value (GTV) run rate of USD 270 million. H2 of FY22 recorded a phenomenal 4X rise in commerce volumes over H1 on the platform with take rates strengthening by over 2X. During the year, the platform saw large adoption of its structured trade solutions by varied entities spanning across farmers, FPOs, millers and agri-corporations.

The embedded digital lending business on the platform hit the milestone of Rs 100 crore or USD 13.3 million, of loan disbursement amount in the month of March 22 alone. The platform saw a 2X rise, to close the year at USD 65.0 million in its digitally led fully secured loan disbursements. The increased uptake in its digital lending solutions was immensely influenced by the launch of Insta-loan disbursement bouquet of services for farmers that simplifies and optimizes the lending process and end-user experience in gaining access to financial services. The adoption rates were in excess of 90 percent.

Apart from lending through its own balance sheet, the platform collaborated with over 25 Banks and FIs to help them disburse Rs 2000 crore or USD 265 Million of secured loans in the last fiscal, a growth of over 3X in the collaborated lending book. The year also saw Arya.ag raising series C funding to the tune of USD 60 million with investors now comprising Asia Impact SA, Lightrock India, Quona Capital and Omnivore.

 Prasanna Rao, MD & Co-founder, Arya.ag said, “The influence of digital transformation in prominent domains of the overall economic ecosystem is well known. As India’s largest agritech player, we at Arya.ag are extending the benefits of digital technologies to the smallest of the stakeholders in the agri-ecosystem, including women farmers and farmer producer organisations. The pandemic times have further accelerated the adoption of our integrated services and we remain upbeat about the future, basis our distinct value proposition and strong business fundamentals.”

Integrated services spanning warehousing, lending and marketplace