BASF Venture Capital GmbH (BVC) has made an investment in UrbanKisaan, an Indian agri start-up specialising in hydroponic cultivation of various vegetables, greens and herbs in tropical urban environment. The financial details of the investment was not disclosed by both entities.
Operates greenhouses
UrbanKisaan operates several suburban greenhouses and vertical indoor farms in Hyderabad and Bangalore and sells fresh produce, some of which is grown directly in the shops, in its franchise-owned brick-and-mortar stores and via an app and website.
This is BVC’s first investment in an early stage business focusing on India. With the investment from BASF, UrbanKisaan plans to further expand its market presence in India,
Cost-effective
“Our approach in hydroponics enables us to produce our food cost-effectively and with relatively little effort,” said Vihari Kanukollu, co-founder and CEO at UrbanKisaan.
“Our produce also contributes towards sustainability as it is grown in clean, hygienic farms in and around the city, thus minimising the total carbon footprint. Use of IoT (Internet-of-Things)-enabled technology for monitoring the farms ensures pesticide-free produce. The growing demand from our customers shows that our idea is well-received,” he added.
UrbanKisaan’s farms are managed through their proprietary technology. Nutrient content, pH levels, atmospheric humidity, CO2 concentration, light concentration and other important parameters are controlled and adapted to the needs of the particular plants with an app.
Hydroponic farming
“UrbanKisaan, as a pioneer in the hydroponics space, has developed a unique growing method and combines this with a compelling business model for sales,” said Markus Solibieda, Managing Director of BASF Venture Capital GmbH.
“AgTech is one of our key investment focus areas worldwide. This includes, in particular, our goal of supporting innovative agricultural and food-related businesses in Asia. We look forward to learning more about hydroponic farming and exploring its potential through a close collaboration between UrbanKisaan and BASF’s agriculture experts,” he said.