Unnati Agri, an agriculture supply chain and financial services start-up, has entered into a strategic partnership with IPL Biologicals to focus on climate-ready products. It has also raised ₹28.5 crore led by the family office of IPL Biologicals, a leading bio-product agri firm.
Other existing investors, including Incofin Investment Management, Nabventure, and Orios, have also participated in the round. Unnati aims to use the freshly raised funds to focus on sustainable and climate-ready products, the company said in a statement.
The start-up will expand its product line through a joint go-to-market arrangement with IPL Biologicals, which has a range of patented microbial and biological nutrition, bio-control and soil and plant stimulants; and other products.
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Ashok Prasad, co-founder of Unnati Agri said: “After bolstering our tech infrastructure and growing the uStore network, we are set to expand the sustainable products portfolio across India. Through this partnership with IPL Biologicals, we will help farmers adopt better and more sustainable farming practices, backed by a range of the latest bio-products.”
“IPL Biologicals’ strong technology-driven approach to sustainable products, coupled with Unnati’s distribution reach, will accelerate the adoption of bio-products in India. We look forward to aggressively expanding across India through this partnership,” said Harsh Vardhan Bhagchandka, President, IPL Biologicals
Unnati aims to grow stronger by expanding its network to reach more farmers. The start-up, which targets to serve five million farmers, already serves more than 1.2 million farmers through its network of more than 75,000 ‘ustores’. Currently, the focus is on expanding the full suite of services across the supply chain and financial services for all stakeholders in the agriculture ecosystem, the statement said.