VC Fund Investments
Horticulture startup INI Farms gets $1.95 M from Aavishkaar Capital's ESG First Fund
Mumbai-headquartered horticulture startup INI Farms has raised USD 1.95 million from Aavishkaar Capital's ESG First Fund. The company will use the funds for growth, to expand through the entire agriculture output business, and leverage the current supply chain capabilities. INI Farms was founded in 2009 by Pankaj Khandelwal and Purnima Khandelwal. It aims at building a tech-driven global fruit brand in the name of Kimaye. It caters to the agro-market of 35 countries through its direct-to-consumer platform FruitRoute and several e-commerce channels. The startup aims at 100% disintermediation and below 2% food wastage.
From the Venture Intelligence PE-VC Deal Database: Between Jan 11 and Aug 17, INI Farms had raised over USD 10 M from Aavishkar, Lightrock India and Unilazer Ventures In March-2022, agritech startup AgroStar had acquired INI Farms through a cash and stock deal. Aavishkaar had first invested in INI in Jan 2011.(Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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