Agritech startup Unnati on Wednesday said it has raised Rs 60 crore in Series A funding from Incofin Investment Management, NabVentures and Orios. The fresh capital will be utilised for augmenting tech infrastructure for farmers and increase the uStore network, the company said in a statement.
Commenting on the funding, Unnati CEO and Co-founder Ashok Prasad said, …We have raised our Series A round of funding and are thrilled to have marquee investors backing us in our journey.” NABVENTURES Fund-I, the flagship fund of NABVENTURES Ltd. backed by NABARD, has followed-up on its initial investment in the company, by also participating in this round of fund-raise.
Incofin Investment Management is a Belgian-based impact investment firm, while Orios Venture Partners is one of India’s leading technology Venture Capital fund. Unnati is enhancing its technology platform by adding a wide range of new features to its farmer and retailer apps, including the introduction of Artificial Intelligence (AI) led features related to farm diagnostics, farming lifecycle management, supply chain management for partners, etc.
The company is investing heavily into AI and Machine Learning platforms for bringing the latest digital tools to farmers and uStore partners. Till date, Unnati said it has served more than 3 lakh farmers through its network of over 20,000 uStore network. It has been digitising agri-input retailers, traders and other ecosystem players.