Bangalore based agri-tech venture FrontalRain Technologies raises INR 5 Crore from Omnivore Capital
Omnivore Capital, an early stage venture capital fund backed by Godrej Agrovet Ltd, has invested Rs. 5 crore for a significant minority stake in Bangalore based agri-tech venture Frontal Rain Technologies Pvt Ltd.
FrontalRain Technologies offers supply chain software for agribusiness companies on the cloud. The venture was started by 3 senior executives from SAP with over 50 years of combined business and product development expertise in the enterprise software business.
What sets apart FrontalRain technologies is the strong commitment and passion the founding team has for agribusinesses and they are looking forward to stepping up their efforts with the current capital infusion.
FrontalRain’s Rain+ technology (a family of food supply chain software on the Cloud) brings together the benefits of tightly integrated business processes of an enterprise application and combines this with collaboration, E-commerce, social networking and mobile capabilities to enable customers to seamlessly interact with their suppliers and customers.While vertically integrated players can benefit by implementing the complete suite, smaller agribusiness players can benefit by deploying parts of Rain+ solution.
While things like standard purchase, sales, inventory, production and finance process are basic requirements for any company to get started, Rain+ uses collaboration using the web to increase efficiency of the internal operations. Companies can open parts of the system selectively to different external stakeholders like banks, test agencies, customers, warehouses, quality experts, transporters, ports etc to expand their reach and increase velocity of business. These features, help ambitious mid-sized food and agri companies to do commerce in a very modern way like never before.
India has a complex agri supply chain which consist of 600 million farmers, 1,200 million consumers and 5 million traders. Information asymmetry between the farm gate and the point of consumption increases the prices approximately by 4 times and even higher in some perishable commodities. The foreign companies coming to India will have to depend on IT companies for cloud based application to manage distributed systems, surveillance tools, display technologies and location-based services.
Lack of technology based intervention in Food and Agribusiness leading to low productivity and severe post harvest losses have been discussed in various forums but very little has been done till now, we hope FrontalRain succeeds in creating an impact in this space.
Jayaram Srinivasan, Founder and MD of FrontalRain Technologies is hoping to do just that, speaking to YouStory on various occassions, he has always stressed upon “the dire need for technological solutions to create better market linkages in the agribusiness industry leading to better management of the growing demand-supply mismatch and also importantly resulting in better price realizations for farmers.” A noble mission indeed with an innovative ERP solution to achieve it.