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The Plunge Daily ends FY22 on a record high to cement hold as India’s largest agritech firm ends FY22 on a record high to cement hold as India’s largest agritech firm

Agriculture ends FY22 on a record high to cement hold as India’s largest agritech firm, India’s largest integrated grain commerce platform, concluded FY22 on a formidable and strong note both in terms of volumes as well as end-user uptake to further cement the start-up’s position as India’s largest and fastest growing agritech player.

For the fiscal year gone by, closed with a grain AUM of USD 1.1 Bn bolstered by a rapid surge in commerce volume with Gross Transaction Value (GTV) run rate of USD 270 million. H2 of FY22 recorded a phenomenal 4X rise in commerce volumes over H1 on the platform with take rates strengthening by over 2X. During the year, the platform saw large adoption of its structured trade solutions by varied entities spanning across farmers, FPOs, millers and agri-corporations.

The embedded digital lending business on the platform hit the milestone of INR 100 crore or USD 13.3 million, of loan disbursement amount in the month of March 22 alone. The platform saw a 2X rise, to close the year at USD 65.0 million in its digitally led fully secured loan disbursements. The increased uptake in its digital lending solutions was immensely influenced by the launch of Insta-loan disbursement bouquet of services for farmers that simplifies and optimizes the lending process and end-user experience in gaining access to financial services. The adoption rates were in excess of 90 percent.

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Apart from lending through its own balance sheet, the platform collaborated with over 25 Banks and FIs to help them disburse INR 2000 crore or USD 265 Mn of secured loans in the last fiscal, a growth of over 3X in the collaborated lending book.

Some of the other key figures for the year included:

Enabling digital discovery of 10469 near-farm gate warehouses spread over 800 locations

Combined storage capacity of 36.5 million tonnes with a footprint of over 200 million sq. ft.

More than 8000 total sale listings by sellers

1000+ successful trades effectively connecting sellers to buyers

Concluded over 350,000 tonnes of agri-commodity commerce

Basis its unmatched, integrated offerings spanning digital warehousing, digital lending and digital marketplace, by the end of FY22, further consolidated its position as the country’s largest agritech player with the unique distinction of being the only profitable player in the industry.
The year also saw raising series C funding to the tune of USD 60 million with investors now comprising Asia Impact SA, Lightrock India, Quona Capital and Omnivore.

Mr. Prasanna Rao, MD & Co-founder, said, “The influence of digital transformation in prominent domains of the overall economic ecosystem is well known. As India’s largest agritech player, we at are extending the benefits of digital technologies to the smallest of the stakeholders in the agri-ecosystem, including women farmers and farmer producer organisations. The pandemic times have further accelerated the adoption of our integrated services and we remain upbeat about the future, basis our distinct value proposition and strong business fundamentals.”

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