Agritech firm Kisankonnect secures Rs 31 Cr pre-Series A funding from Green Frontier Capital, Dhanuka
The startup said it will use the funding to invest in climate-smart agriculture interventions, strengthen its fresh-produce supply chain technology, and add new farm stores in Mumbai and Pune.
Pune-based agritech startuphas raised Rs 31 crore (~$ 3.7 million) in pre-Series A funding from climate-focused fund Green Frontier Capital and crop protection company Dhanuka Agritech Limited. VC Grid—a community-led investment platform—participated in the round along with a few family offices.
The startup will use the funding to invest in climate-smart agriculture interventions with its 5,000 farmers, strengthen its fresh-produce supply chain technology, and add new farm stores in Mumbai and Pune, it said in a statement on Monday.
Kisankonnect raised capital from Actor Shilpa Shetty in May last year.
Founded in 2020 by Vivek and Nidhi Nirmal, Kisankonnect sources agricultural produce directly from its network of 5,000 farmers and delivers fresh vegetables and fruits through its in-house delivery channels. It also has a line of agri-produce and hand-made preservative free snacks under the brands Village Staples and Mom’s Kitchen.
The Pune-based firm also works with farmers to encourage sustainable cultivation of crops free from pesticides and chemicals, according to the firm.
Kisankonnect believes that its technology-enabled temperature-controlled and fully-traceable supply chain is unique in the country as it helps the sorted and graded fresh produce of our farmers to reach consumers in Mumbai and Pune in the shortest possible time.
“The wastages are reduced significantly which ensures fair prices for farmers and consumers both, while helping reduce carbon emissions in the agri supply-chain,” Vivek Nirmal, Co-founder and CEO of Kisankonnect, said.
“We are pleased to partner with GFC and Dhanuka and other ESG Tech focused investors in our journey of strengthening our community of farmers by implementing interventions for soil improvement, reduced usage of chemical fertilizers and pesticides and improving farm productivity. Our extensive work on the farm front also benefits our consumers, as they get safer produce to consume,” Nirmal added.
Sandiip Bhammer, Managing Partner and Founder of GFC said, “Kisankonnect is revolutionising the field with its dedication to soil improvement, reduced chemical usage, and elevated farm productivity - values that align seamlessly with our mission to champion climate tech innovations.”
Agriculture and foodtech startups raised a total funding of $2.4 billion in 2022, a 33% decline from the $3.6 billion secured in 2021. The total number of deals declined to 133 last year from 230 in 2021, according to a report by venture capital firms Agfunder and Omnivore.
Edited by Affirunisa Kankudti