VC Fund Investments
Agritech startup Unnati raises Rs.60-Cr from Incofin, Orios, NabVentures
Unnati Agri, a fintech-driven agriculture service platform operated by Noida-based Akshamaala Solutions Pvt. Ltd., has raised INR 60 crore in a Series A round from Incofin, Orios VP and existing investor, NAB Ventures. Unnati will utilize the fresh capital to augment its tech infrastructure and increase its “uStore†network. Unnati has served more than three lakh farmers through its 20,000 strong "uStore" network. It has been digitising agri-input retailers, traders and other ecosystem players. The platform, with its partner network, digitally helps farmers improve their incomes. It has grown more than 15x over the last 12 months owing to an increase in its platform usage. As a part of its network augmentation, the platform is also looking at expansion to Haryana, Andhra Pradesh, Madhya Pradesh, Rajasthan and further expansion in Uttar Pradesh, Bihar, and Maharashtra.
From the Venture Intelligence PE-VC Deal Database: In Oct-20. Unnati had raised a commitment of over INR 12 Cr from NAB Ventures. In May-20 it had attracted INR 3.3 Cr in angel investments from Vijay Shekhar Sharma, Gemba Capital, KRS Jamwal, Shankar Nath, Vikas Garg, Renu Satti and Ajay Lakhotia. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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