Unnati, a fintech firm focused on agriculture, has garnered INR 60 crore from Incofin Investment Management, NabVentures, and Orios in a series A round of investment.

Unnati plans to use the additional funds to improve its technology infrastructure and expand its uStore network. This business is expanding its technology platform by introducing artificial intelligence-driven functionality to its farmer and retailer applications, such as farm diagnostics, agricultural lifecycle management, and supply chain management for partners, among other things.

The firm is significantly investing in AI and Machine Learning platforms in order to provide farmers and uStore partners with the most up-to-date digital capabilities.

Unnati's CEO and Co-founder, Ashok Prasad, commented on the financing said, “Unnati has been committed to enhancing the lives of farmers as well as our retail partners through technology solutions. Unnati has built several innovative solutions to enable farmers and retailers to grow and scale their business, and our growth trajectory has been remarkable so far.”
Unnati claims that their network of more than 20,000 uStore locations has serviced more than three lakh farmers. Agri-input retailers, traders, and other ecosystem stakeholders have all been digitized.

The Unnati platform, in collaboration with its partner network, provides farmers with digitally enabled services that help them increase their agricultural revenue. It has expanded more than 15 times in the last year due to increased platform utilization.

Incofin India Partner, Rahul Rai stated, “we are delighted to partner with the high performance founders- Ashok and Amit of Unnati Agri as they scale a tightly knit strategy of an integrated rural ecosystem of knowledge based farm input advisory, financial inclusion and supply chain integration through the use of technology”.

Unnati is also considering expanding its presence into Haryana, Andhra Pradesh, Madhya Pradesh, Rajasthan, and Uttar Pradesh, Bihar, and Maharashtra.