Thursday, June 20, 2024

Aavishkaar Capital invests Rs 16 crore in INI Farms

ESG First Fund, managed by Aavishkaar Capital, an Aavishkaar Group company and set up in partnership with KfW, a German state-owned development bank, has announced its first investment of ₹16 crore ($1.95 million) from the ESG First Fund into INI Farms.

Founded in 2009 by Purnima and Pankaj Khandelwal, INI Farms is an exporter of fruit and vegetable crops with pan-India operations spanning contract farming, aggregation, supply chain management and serving food retailers globally. 

INI Farms is working together with AgroStar, an agri-tech firm having built an agronomy advisory center, a digital farmer network with over 5 million users, and a retail network of over 2,000 stores.

Purnima Khandelwal, CEO & Co-founder, INI Farms said “This investment will provide us with a great opportunity to grow multi-fold with expansion into the entire agriculture output business and leveraging our strong supply chain capabilities.”

Abhishek Mittal, Partner- Credit – Aavishkaar Capital said,  INI along with Agrostar, is well placed to meet the demands of global markets while empowering farmer at the back-end.  We are committed to empowering such businesses with non-dilutive and flexible financial solutions that are better aligned to their growth needs.”

#Aavishkaar #Capital #invests #crore #INI #Farms

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