Kamatan Funding: Agritech Startup Raises 30cr
Delhi based Agritech startup Kamatan raises 30Crores from Samunnati Agro Solutions.
Kamatan a year-old startup working towards building inclusive and sustainable Agri supply chains has raises 30 crore rupees from a Chennai based Samunnati Agro Solutions. In this round, it was also joined by its existing investor Elevator Equity. According to the Economic Times, the company is planning to use this fund to expand links with Farmer Producing Companies (FPOs).
Kamatan CEO and CO-founder Pravesh Sharma said:
This fund will help them in financial linkages, technology solutions, for production, storage and quality management and also input supplies.
According to Founder of StartupLanes, Shishir Gupta:
In India, there are around 85% of small and marginal farmers. In 2018 thousands of farmers walked miles fighting for their right product price. There is a strong need for startups in the agriculture sector, those who can help farmers to get the right price and buyers to get the best quality of products without contacting multiple vendors. Kamatan is helping not only producers and buyers but also working towards the environment reducing wastages by providing the best technologies and methods to producers. Somehow they are contributing to Millennium Development Goals i.e. MDG1: to radiate poverty and hunger and MDG 7: to ensure environmental sustainability. Good work Team Kamatan.
By merging Sabziwala and LivLush it was formed in 2018 by Pravesh Sharma (CEO), Rohan Patnaik, Raghunandan B, Amol Patil. Working with 70 FPOs and 30 thousand farmers in 20 cities towards addressing the needs of both farmers and buyers with the help of FPOs. it also provides farmers the best technology for producing, harvesting, packaging, and transportation with less wastage. Apart from this it also has a superior infrastructure for cold storage, warehouses, distribution centers, and logistics. It aims for an effective and structured supply chain for the farm producers using technology that helps to reduce wastages and inefficiencies. At the same time, it also works for building a transparent and coherent relationship between producers and buyers.
Its buyers include Agri enterprises, food processors, hotels, restaurants and cafe chains, grocery startups and retailers with Taj Hotels, ITC, FreshMenu, Swiggy, BigBasket, Grofers, Chai Point, etc. It provides 7 days to deliver services in a cost-effective way by eliminating middlemen and making it transparent. It provides a range of Indian vegetables and fruits at one place wiping out multiple vendors.
The majority of the population in Indian depends upon agriculture. According to NASSCOM, India continues to be the third-largest startup ecosystem in the world. Investment in startups is progressively growing in the early stages of startups. Growing at 25% India is a hub of more than 450 agritech startups, receiving more than 248 million dollars i.e. growth of around 300%.
I believe bringing innovation and digitalization in agriculture will shoot up the Indian economy. There are huge potential and business opportunities in the Agritech sector for youths. Investors should focus more on this sector as India is the agriculture-based economy. According to the Economic Times, in 2019-20 the Gross value added to the agriculture sector is expected to grow at 0%. India’s farmers are struggling due to the highest illiteracy rate. Then it is obvious, dealing with new technologies and methods is not going to be an easy task for Indian Farmers. Kamatan is playing a pivotal role in bringing farmers and sellers closer. We need more Unicorns like Kamatan.