Wednesday, October 4, 2023
The Agrotech Daily
  • Login
  • News
    • Crops
    • Agro Forestry
    • Fertilizers
    • Livestock
    • Agro Machinery
    • Finance
    • Policy
  • Insights
    • Analysis
    • Opinions
    • Reports
    • Interviews
  • Technology
  • Permaculture
  • Events
  • NewsMakers
  • World
No Result
View All Result
  • News
    • Crops
    • Agro Forestry
    • Fertilizers
    • Livestock
    • Agro Machinery
    • Finance
    • Policy
  • Insights
    • Analysis
    • Opinions
    • Reports
    • Interviews
  • Technology
  • Permaculture
  • Events
  • NewsMakers
  • World
No Result
View All Result
No Result
View All Result

Samunnati raises $20 million direct debt from International Development Finance Corporation.

Company to utilize funds to revive agribusinesses and propel Agrotech start ups

Aanchal Shalini Pundir by Aanchal Shalini Pundir
September 29, 2020
in Agro Machinery, News, Reports, Technology
0
Samunnati-raises-funding-to-revive-agribusinesses
0
SHARES
135
VIEWS
Share on FacebookShare on Twitter

THD NewsDesk, Chennai: The non-banking finance company, Samunnati, has raised a $20 million debt from International Development Finance Corporation. The company intends to utilize the fund to provide loans to FPO’s and Agribusinesses currently under dire need. Setuka Partners LLP helped in the smooth transaction process.

In a joint press statement, Inc42, Samunnati and DFC said that the newly raised capital would increase the lending and finance prospects for small farmers and enterprises that need assistance to develop. It will also supplement the agricultural string in the country.

RELATED POSTS

The Benefits And Challenges Of Vertical Farming, And How This Technology Is Being Used To Grow Crops In Urban Environments

The role of livestock in sustainable agriculture, and how to manage a successful animal husbandry operation

Founder and CEO of Samunnati, Anil Kumar SG commented,

“Samunnati is working with many FPOs on the supply side and agri enterprises on the demand side across 19 states in India. We are delighted to partner with DFC as this will help us further offer customised financial solutions, using social and trade capital, to FPOs and SMEs, enabling the agri value chain to operate at a higher equilibrium.”

Founded in 2014, Samunnati has been associated with the agricultural sector and has been integrally involved with 54 agri value chains spread over 19 states in the country.

Ajay Rao, Managing Director – South Asia Region, DFC said,

“The DFC is proud to work together with the experienced team at Samunnati and we look forward to collaborate in scaling up the breadth and depth of the company’s operations across India.”

A report by Rabo foundation, namely “The Role of Tech-Enabled Formal Financing in Agriculture in India’ noted that over 50% of India’s small and marginal farmers have no access and do not get financial assistance from any tech or conventional means. The lack of aid leads to a stream of problems in production and income.

However, the lack of access to such means opens up the possibility for agritech startups to provide loans to small and marginal farmers with the help of the following technologies:

  • Satellite imagery
  • Soil testing
  • Climate forecasting tools
  • Wearhouse-sourced loans, among others

Some of the known names among the Agrotech startups are :

  • Sagri
  • Samunnati
  • Arya
  • Jai Kisan
  • DeHaat
  • FarMart
  • Kissht
  • Bijak

Samunnati has previously raised equity financing from prestigious bodies like Elevar, Accel, ResponsAbility, and Nuveen, striving to enrich and strengthen the agricultural chain.

 

Source: Krishi Jagran
Tags: AgrotechFundingInvestmentSamunnati
ShareTweetPin
Aanchal Shalini Pundir

Aanchal Shalini Pundir

Related Posts

The-Benefits-And-Challenges-Of-Vertical-Farming-And-How-This-Technology-Is-Being-Used-To-Grow Crops-In-Urban-Environments-theagrotechdaily

The Benefits And Challenges Of Vertical Farming, And How This Technology Is Being Used To Grow Crops In Urban Environments

by TAD News Desk
March 24, 2023
0

This article explores the concept of vertical farming, including its benefits and challenges, and how it is being used to...

The-role-of-livestock-in-sustainable-agriculture-and-how-to-manage-a-successful-animal-husbandry-operation-theagrotechdaily

The role of livestock in sustainable agriculture, and how to manage a successful animal husbandry operation

by TAD News Desk
March 14, 2023
0

This article discusses the crucial role of livestock in sustainable agriculture and explores how to manage a successful animal husbandry...

Livestock-Management-and-Monitoring-agrotechdaily

Livestock Management and Monitoring

by TAD News Desk
February 27, 2023
0

In this article, we will explore the latest technological advancements in livestock management and monitoring, how they are revolutionizing the...

The-use-of-technology-in-improving-soil health-and-fertility-agrotechdaily

The use of technology in improving soil health and fertility

by TAD News Desk
February 20, 2023
0

This article discusses the use of technology in improving soil health and fertility. With the increasing demand for food, the...

The-role-of-technology-in-reducing-pesticide-use-agrotechdaily

The role of technology in reducing pesticide use

by TAD News Desk
February 16, 2023
0

This article explores the role of technology in reducing pesticide use in modern agriculture. The use of pesticides has long...

Next Post
Russia-agriculture-market-hits-high

Russian Agrochemical market becomes capricious

Asa-Hutchkinson-India-Arkansas-Partnership-webinar

Agriculture and Processing Collab to strengthen India-US bond: Arkansas Governor

RECOMMENDED

The-Benefits-And-Challenges-Of-Vertical-Farming-And-How-This-Technology-Is-Being-Used-To-Grow Crops-In-Urban-Environments-theagrotechdaily

The Benefits And Challenges Of Vertical Farming, And How This Technology Is Being Used To Grow Crops In Urban Environments

March 24, 2023
The-role-of-agricultural-cooperatives-and-how-they-can-help-farmers-band-together-to-improve-their-bargaining-power-and-access-to-resources-theagrotechdaily

The role of agricultural cooperatives, and how they can help farmers band together to improve their bargaining power and access to resources

March 23, 2023

MOST VIEWED

  • Agricultural Companies

    8 Largest Agricultural Companies in the World

    0 shares
    Share 0 Tweet 0
  • 10 Best Ways To Increase Soil Fertility

    0 shares
    Share 0 Tweet 0
  • 8 Best Apps In India For DigiFarming.

    0 shares
    Share 0 Tweet 0
  • Impact Of Soil Erosion On Agriculture

    0 shares
    Share 0 Tweet 0
  • 5 Emerging Innovations In The Field Of Agriculture

    0 shares
    Share 0 Tweet 0

About Us

The Agrotech Daily

We are a media company focused on the Agriculture B2B market. We create, aggregate and distribute actionable news, reports, analysis and more for the agriculture industry cohesively.

Trending News

The Benefits And Challenges Of Vertical Farming, And How This Technology Is Being Used To Grow Crops In Urban Environments

The role of agricultural cooperatives, and how they can help farmers band together to improve their bargaining power and access to resources

The impact of trade policies on agriculture, and how farmers can navigate changing regulations and tariffs

The benefits of agroforestry, and how to incorporate trees into your farming operation

The role of drones in agriculture, and how they are being used to collect data and monitor crops

Press Release

The Benefits And Challenges Of Vertical Farming, And How This Technology Is Being Used To Grow Crops In Urban Environments

The role of agricultural cooperatives, and how they can help farmers band together to improve their bargaining power and access to resources

The impact of trade policies on agriculture, and how farmers can navigate changing regulations and tariffs

The benefits of agroforestry, and how to incorporate trees into your farming operation

The role of drones in agriculture, and how they are being used to collect data and monitor crops

  • About
  • Submit Article/PR
  • Contact

© 2020 TAD - A Medianiti Venture.

No Result
View All Result
  • Homepages
    • Homepage Layout 1
    • Homepage Layout 2
  • Politics
  • World
  • Science
  • National

© 2020 TAD - A Medianiti Venture.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In