Get All Access for $5/mo

Agritech Startup Unnati Raises USD 1.7 Mn In Pre-Series A Round from NABVENTURES The company will utilize the fund to expand its tech platform and set up more partner stores

By Debarghya Sil

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Unnati

Agritech startup Unnati on Monday announced that it has raised USD 1.7 million in Pre-Series A round from NABVENTURES fund, an agriculture, food and rural businesses focused fund.

Founded in 2017 by Ashok Prasad and Sinha, Unnati's app gives access to agri finance, knowledge support, choice of inputs, tracking farm lifecycle and access to buyers.

The company's predictive farming model helps farmers to make well-informed decisions on plant protection, weed management, nutrient usage and also predict market conditions. Through its repository network partner, the startup provides financial assistance such as creating saving accounts, securing loans, purchasing farming inputs, among others.

Commenting on the recent capital infusion, Amit Sinha, co-founder, Unnati said, "On this journey of creating farmpreneurs through digital tools we are proud to have NABVENTURES (NABARD) as a partner. NABVENTURES shares our vision of bringing a positive change in the agriculture industry and creating value for all stakeholders. We look forward to gaining from NABARD's deep experience, knowledge and scale of operations in Indian agriculture and look forward to a long and mutually beneficial association."

The company said it will utilize the fund to expand its tech platform and set up more partner stores.

G. R. Chintala, chairman NABARD and NABVENTURES, said, "Unnati has created a platform to digitalize the major components in the food and agribusiness value chain. The predictive capabilities of the data captured by the platform enhances efficiencies while its transparent processes help in building trust among farmers and FPOs. Unnati has the potential to be a nationwide platform for multiple services in the agricultural value chain."

Manikumar S., chief operating officer, NABVENTURES said "Unnati team is solving some of the important problems faced by farmers like lack of access to quality inputs at transparent prices and lack of last-mile market linkage to sell produce at competitive prices. The amalgamation of a fintech layer has resulted in customer stickiness. We appreciate the agri input selling and market linkage proposition of the Unnati platform and are happy to support it on its onwards and upwards journey."

From the inception, the startup has helped create more than 2.5 lakh smart farmers in Uttar Pradesh, Madhya Pradesh, Maharashtra and Bihar, covering over 7 lakh acres of farmland.

Also Read: While Farm Bills Face Backlash In Parliament, Agritech Startups Hail the Move

Debarghya Sil

Entrepreneur Staff

Former Correspondent

Side Hustle

'Hustling Every Day': These Friends Started a Side Hustle With $2,500 Each — It 'Snowballed' to Over $500,000 and Became a Multimillion-Dollar Brand

Paris Emily Nicholson and Saskia Teje Jenkins had a 2020 brainstorm session that led to a lucrative business.

Growth Strategies

Tata Motors: 45% Of EV Sales Come From Smaller Towns; Targets Installing Community Chargers

Category acceptance from smaller towns is the key to growth and we have achieved it, Vivek Srivatsa, chief commercial officer, Tata Passenger Electric Mobility

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

News and Trends

IATA Predicts a Mix Bag For Global Airlines

Profitability of airlines is set to improve in 2025, however, growth will be limited due to supply chain issues

News and Trends

Decentralised Internet Offers Ample Opportunities to Developers: Avery Ching of Aptos

"Six and a half of the million of those (MAU) are actually from the Indian region," revealed the co-founder. "India is a huge market for us." The L1 blockchain company entered the region in 2023 as one of its test markets.

News and Trends

YouTuber Bhuvan Bam Joins Sexual Wellness Brand Peppy as Co-Founder and Investor

Peppy products are available on major e-commerce platforms like Amazon, Meesho, Flipkart, Tata 1mg, and Hyugalife.