Unnati Agri, a fintech-driven agriculture service platform, has secured Rs 60 crore (about $8 million) in a Series A round-headed by Incofin Investment Management, NabVentures, and Orios. According to the Noida-based startup, the new funds will be used to expand its uStore network and technological infrastructure. The platform is also considering expanding geographically to Haryana, Andhra Pradesh, Madhya Pradesh, Rajasthan, and future development into Uttar Pradesh, Bihar, and Maharashtra.
Unnati, founded by Amit Sinha, former COO of Paytm Mall, brings together everything from pre-harvest advice to post-harvest services to working credit for farmers on a single platform.
Registered farmers may purchase seeds, insecticides, fertilizers, and other supplies from a plethora of branded suppliers and dealers listed on Unnati. On the output side, they may sell their produce directly to food processors and agribusinesses connected via the platform.
The four-year-old company claims to have expanded 15-fold in the previous year and served over 3 lakh farmers via its network of over 20,000 uStore networks.
Six Agritech startups received funding last month, including one undisclosed round.