[Funding Alert] Hyderabad-based UrbanKisaan raises undisclosed capital from BVC to expand market presence
Hyderabad-based agritech startup UrbanKisaan, specialising in hydroponic cultivation, on Tuesday said it raised undisclosed funding from BASF Venture Capital GmbH (BVC).
According to an official statement, the startup is looking to expand its market presence in India and deploy its farming technology to work with thousands of farmers.
Founded in 2017 by Srinivas Chaganti, Vihari Kanukollu, and Sairam Reddy, UrbanKissan operates several suburban greenhouses and vertical indoor farms in Hyderabad and Bengaluru.
It sells fresh vegetables, greens, and herbs cultivated using hydroponic technology via its franchisee-owned brick-and-mortar stores, mobile app, and website.
“Our approach in hydroponics enables us to produce our food cost-effectively and with relatively little effort. Our produce also contributes towards sustainability as it is grown in clean, hygienic farms in and around the city, thus minimising the total carbon footprint. The use of IoT-enabled technology for monitoring the farms ensures pesticide-free produce. The growing demand from our customers shows that our idea is well-received,” Vihari Kanukollu, Co-founder and CEO, UrbanKisaan, said in a statement.
The startup claims to have optimised hydroponics technology for use in tropical climates, including India.
According to the agritech startup, the nutrient content, pH levels, atmospheric humidity, CO2 concentration, light concentration, and other important parameters in its farms are controlled and adapted to the needs of the crops using an app.
Speaking about the investment, Markus Solibieda, Managing Director of BASF Venture Capital GmbH said that agritech is one of its key focus areas across the globe. In fact, it aims to support innovative agricultural and food-related businesses across Asia.
“UrbanKisaan, as a pioneer in the hydroponics space, has developed a unique growing method and combines this with a compelling business model for sales. We look forward to learning more about hydroponic farming and exploring its potential through a close collaboration between UrbanKisaan and BASF’s agriculture experts,” Markus added.
Edited by Suman Singh