KisanKonnect Raises Rs 31 Crore in Funding Led by Climate-Tech Fund GFC
KisanKonnect, a farmer-producer organization supported by Shilpa Shetty, has secured Rs 31 crore in a pre-series A funding round. The funding was spearheaded by Green Frontier Capital (GFC), a fund focused on climate technology and witnessed involvement from Dhanuka Agritech, a crop protection company, VC Grid (a community of family offices and HNIs), along with other family offices.
Vivek Nirmal, Founder and CEO, stated, "Our efforts on the agricultural front not only benefit consumers by providing safer produce but also feature a unique, tech-enabled, temperature-controlled, and fully traceable supply chain in the country. This efficient system ensures the prompt delivery of sorted and graded fresh produce from our farmers to consumers in Mumbai and Pune, reducing wastages significantly and promoting fair prices for both farmers and consumers. Additionally, it contributes to the reduction of carbon emissions in the agricultural supply chain".
KisanKonnect presently serves over 1 lakh customers in Mumbai and Pune through its D2C app and farm-stores. The company also offers curated agricultural produce and handmade snacks under the 'Village Staples' and 'Mom’s Kitchen' categories, produced by rural women in a central kitchen. Bollywood star Shilpa Shetty had previously supported the company during its angel round in May of the preceding year.
Sandiip Bhammer, Founder and Managing Partner of GFC, expressed, "KisanKonnect is transforming the agricultural landscape by prioritizing soil improvement, reducing chemical usage, and enhancing farm productivity values that align seamlessly with our mission to champion climate tech innovations. The company's commitment ensures the swift delivery of fresh produce to consumers".
India's agri-tech sector experienced a significant investment surge in FY22, marking its most successful year in attracting VC funding, totaling $1,279 million. However, this was followed by a substantial contraction in FY23, reflecting a broader global trend of decreased investments in agri-tech. According to a September 2023 report by consulting firm FSG, investments in Indian agri-tech plummeted by 45 percent to $706 million between FY22 and FY23.
Vivek Nirmal, Founder and CEO, stated, "Our efforts on the agricultural front not only benefit consumers by providing safer produce but also feature a unique, tech-enabled, temperature-controlled, and fully traceable supply chain in the country. This efficient system ensures the prompt delivery of sorted and graded fresh produce from our farmers to consumers in Mumbai and Pune, reducing wastages significantly and promoting fair prices for both farmers and consumers. Additionally, it contributes to the reduction of carbon emissions in the agricultural supply chain".
KisanKonnect presently serves over 1 lakh customers in Mumbai and Pune through its D2C app and farm-stores. The company also offers curated agricultural produce and handmade snacks under the 'Village Staples' and 'Mom’s Kitchen' categories, produced by rural women in a central kitchen. Bollywood star Shilpa Shetty had previously supported the company during its angel round in May of the preceding year.
Sandiip Bhammer, Founder and Managing Partner of GFC, expressed, "KisanKonnect is transforming the agricultural landscape by prioritizing soil improvement, reducing chemical usage, and enhancing farm productivity values that align seamlessly with our mission to champion climate tech innovations. The company's commitment ensures the swift delivery of fresh produce to consumers".
India's agri-tech sector experienced a significant investment surge in FY22, marking its most successful year in attracting VC funding, totaling $1,279 million. However, this was followed by a substantial contraction in FY23, reflecting a broader global trend of decreased investments in agri-tech. According to a September 2023 report by consulting firm FSG, investments in Indian agri-tech plummeted by 45 percent to $706 million between FY22 and FY23.
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