Sohan Lal Commodity Management raises Rs 10 crore from Nexus Venture PartnersTeam YS
Sohan Lal Commodity Management (SLCM), an agri-commodity logistics and procurement company based in Delhi, today announced that it has received a Rs 10 crore investment from Nexus Venture Partners, India’s leading Venture Capital firm.
SLCM provides comprehensive agri-commodity warehouse management and procurement solutions to farmers, processors, traders, agri-exchanges and government organizations across 70 locations and 12 states in India. Last year the company handled over Rs 5000Cr of agri-commodities ranging from grains, oilseeds, pulses and spices among others.
SLCM works with leading commodity exchanges as their delivery partner across India and provides collateral management for banks for their warehouse receipt based financing products.
Speaking about the funding, Mr Sandeep Sabharwal, Founder & CEO, Sohan Lal Commodity Management, said, “We plan to become the leading agri-logistics company in India covering the whole gamut from farm to port. The funding will help us expand our warehousing capacity and help us grow our pan-India presence. Nexus Venture Partners with its strong understanding of the agriculture ecosystem in India is an ideal partner for us in this journey. We are happy to be associated with them.”
Sandeep Singhal of Nexus Venture Partners who will join the Sohan Lal Commodity Management board, said, “The agriculture supply chain in India is currently very inefficient leading to huge losses in agri commodities in India. Sandeep Sabharwal is a high energy passionate entrepreneur who has developed high quality processes to ensure very low wastage while procuring, transporting and warehousing of commodities.”
ICICI bank was the sole advisor to this transaction.
About Sohan Lal Commodity Management
Sohan Lal Commodity Management is a one stop comprehensive agri-logistics company based in Delhi. They provide comprehensive agri-commodity warehouse management and procurement solutions to farmers, processors, traders, agri exchanges and government across 70 locations and 12 states in India. It is the only company in India which is accredited with two leading national exchanges The company has worked extensively across all types of agri-commodities ranging from cereals, pulses, oil seeds, and spices.
Its warehousing capacity exceeds 150,000 MT with warehousing space of over one million sq feet. The company warehouses have comprehensive crop testing and maintenance equipment. The company has created proprietary solutions that help clients reduce wastage and lower logistics costs. The company works with some of the leading companies in the agri-commodity space such as Cargill, AWB, Adani, Jindal, Ruchi Soya, Louis Dreyfus, Glencore as a service provider with full alignment of interests. The company is led by Sandeep Sabharwal, CEO and Founder, and a professional team with extensive experience in the agri logistics space. For more details please visit (www.slc-india.com)
About Nexus Venture Partners
Nexus Venture Partners (www.nexusvp.com) is one of the Top Venture Capital Firms in India focused on investing in innovative early to growth stage companies with a strong India connection. It has recently been named as one of only two firms from India in the Red Herring Top 100 Global Venture Capital firms.
Started in 2006, Nexus Venture Partners is led by a group of successful entrepreneurs with extensive investing experience in entrepreneurs in India and globally. Nexus truly understands the unique challenges faced by entrepreneurs and are aware that it takes more than capital for a company to succeed.
Each entrepreneur Nexus partners with has access to the entire team in India and Silicon Valley for help in recruiting talent, forging new alliances, opening doors to new customers, shaping the strategy and connecting with best of breed advisors or board members.
With funds of $320 million under management, Nexus has an active portfolio of over 20 companies. Nexus invests in companies across sectors - technology, consumer services, media, energy, agribusiness, outsourced services, internet and mobile. Some of the companies that Nexus has invested in include Komli (Internet ad network), Suminter (Organic farming), Dlight (Solar Lights), DimDim (Open Source Web Conferencing), Mapmyindia (Digital Navigation), Unicon (Financial Services) and Netmagic (Internet managed service provider).