Ergos Business Solutions Pvt Ltd, an agritech startup, has now announced that it has secured an additional capital of INR 38.5 crore in Series A funding round with fresh investment from Chiratae Ventures and Aavishkaar Capital.
Kishor Jha, Founder, and CEO, Ergos, said,
“We are extremely excited to have Chiratae on board. Along with the continued support from Aavishkaar Capital, we intend to rapidly scale our geographic footprint and remain focussed to service farmers directly at farmgate at over 2000 Grainbank locations over the next few years.”
TCM Sundaram, Founder and Managing Director, Chiratae Ventures, said,
“We are excited to partner with Ergos in its contribution to the government’s mission to help farmers double their income in a quantifiable way.”
“Ergos is bridging the large gap between the selling price of produce and the realisation of farmers at the farm-gate by using technology to facilitate credit and market linkages to the grains stored with it. This opportunity is massive and Ergos is expected to capitalise on its early lead to become a market leader that creates sustainable development to the farmers’ life,” he added.