Unnati raises $1.7 mn from Nabventures Fund

Ag-tech get started-up Unnati has elevated $1.seven million in pre-series A funding from Nabventures Fund, the firm reported on Monday.

The get started-up plans to use the funds to scale up its tech system and maximize its geographical and crop footprint by location up extra partner stores, reported co-founder Ashok Prasad, in a assertion.

Unnati has a strong community of partner stores for selling agri-inputs and acquiring make in Eastern, Central and Western India. In addition to delivering competitively-priced inputs to farmers, Unnati works by using its achieve to empower farmers to get remunerative price ranges for their make by enabling them to obtain improved markets in a good and clear way. It also supplies money products and services to the farmer aside from position-of-purchase farm advisories.

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“Unnati has established a system to digitalise the major components in the foods and agribusiness price chain. The predictive capabilities of the information captured by the system enhances efficiencies although its clear procedures help in constructing believe in among the farmers and FPOs.” reported GR Chintala, Chairman, NABARD and NABVENTURES.

“The Unnati group is resolving some of the significant problems faced by farmers like absence of obtain to good quality inputs at clear price ranges and absence of final-mile current market linkage to market make at aggressive price ranges. The amalgamation of a fintech layer has resulted in customer stickiness. We respect the agri enter selling and current market linkage proposition of the Unnati system and are pleased to assist it on its onwards and upwards journey,” reported Manikumar S, Main Operating Offier, Nabventures.

Unnati has earlier acquired funding from angel investors, which includes Vijay Shekhar Sharma (Paytm), KRS Jamwal, existing and former Paytm senior executives Vikas Garg, Shankar Nath, Renu Satti, Gemba Money, and Ajay Lakhotia. The existing investment decision transaction has also been supported by Sumeet Seraf who acted as advisor for the transaction, the firm reported.