Unnati, a Noida based agritech startup has now secured $1.7 million in a Pre-Series A funding round from the NABVENTURES – NABARD’s agriculture-focused venture fund.
Some of the Angel Investor Sumeet Seraf, also participated in the funding round and advised the startup on the deal transaction.
Unnati said that the funds would going to be used to scale up its tech platforms for the farmers and farmer producer organizations, along with setting up more partner stores.
Co-founder Ashok Prasad said, “At Unnati, our overarching goal is to empower the country’s farmers and bring the best of technologies to enhance their productivity. Since we cater to a multitude of farming needs, the current capital injection will allow us to expand our value proposition in terms of innovative digital tools that we offer. This funding will help us invest in technology, and in increasing our geographical and crop footprint.”
Speaking on the investment, G. R. Chintala, Chairman, NABARD and NABVENTURES, said, “Unnati has created a platform to digitalise the major components in the food and agribusiness value chain. The predictive capabilities of the data captured by the platform enhance efficiencies, while its transparent processes help in building trust among farmers and FPOs. Unnati has the potential to be a nationwide platform for multiple services in the agricultural value chain.”