Unnati Agri, an Indian fintech-driven agriculture service platform, Wednesday announced that it has raised about $3.46 million (Rs 28.5 crore) in a pre-Series B funding round led by IPL Biologicals, a bio-product agri firm.
Other existing investors, including Incofin Investment Management, Nabventure, and Orios also participated in the round, the startup said in a statement.
Unnati aims to utilise the proceeds to focus on sustainable and climate-ready products. The startup will expand its product line by having a joint go-to-market arrangement with IPL Biologicals, which has a range of patented microbial and biological nutrition, bio-control and soil and plant stimulants.
“After bolstering our tech infrastructure and growing the uStore network, we are set to expand our 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 the latest bio-products,” said Ashok Prasad, co-founder of Unnati Agri.
Founded in 2017, Unnati is a digital farming company offering end-to-end support for farmers across the country. The platform provides support to 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.
INDIA DEAL MONITOR
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