Unnati Raises INR 28.5 Crore In Pre-Series B Funding The startup aims to utilise these freshly raised funds to focus on sustainable and climate-ready products
By Teena Jose
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Unnati Agri, an agriculture supply chain and financial services startup, has raised INR 28.5 crore led by the family office of IPL Biologicals, a bio-product agri firm. It has also entered into a strategic partnership with IPL Biologicals to focus on climate-ready products. Other existing investors, including Incofin Investment Management, Nabventure, and Orios, have also participated in the round. The startup aims to utilise these freshly raised funds to focus on sustainable and climate-ready products.
"After bolstering our tech infrastructure and growing its uStore network, we are set to expand sustainable product portfolio across India. Through this partnership with IPL Biologicals, we will be able to help farmers adopt better and more sustainable farming practices backed by a range of latest bio-products," said Ashok Prasad, co-founder, Unnati Agri.
According to an official release, the startup will expand its product line by having a joint go to market arrangement with IPL Biologicals. IPL Biologicals has a range of patented Microbial and Biological Nutrition, Bio Control and Soil and Plant stimulants; and other products.
"IPL Biologicals has been at the forefront of sustainable and climate ready farming in India. IPL Biologicals' strong technology driven approach to sustainable products coupled with Unnati's distribution reach will accelerate the adoption of bio-products in India. We look forward to aggressively expanding across India through this partnership", said Harsh Vardhan Bhagchandka, president, IPL Biologicals.
As per the company, it has been committed to minimizing the risks in agriculture through the use of the latest in agriculture and digital technologies, and aims to grow stronger by expanding its network to reach more farmers as it targets to serve 5 million farmers.
Incepted in 2017, Unnati provides necessary handholding for farmers across every stage of the farming cycle, such as working capital, seed buying, purchasing the proper nutrients and pesticides for crops, harvesting, and even selling the crops.
