Nimble Growth Organics on Friday said it raised an undisclosed seed funding. The agritech company is backed by HNIs, CXOs, and founders of unicorn startups from India, Singapore, and the UAE.
The round also saw participation from industry veterans like DVR Rajiv Mohan, Vice President, ITC Agri-Business Division, founders of Vedantu, Siply, Goal Teller, Udyan Tea, Ellenbarrie, and many other executives of corporates like Blackrock, EY, KPMG, Proptiger, Kenwell Pharma, Salarpuria, ITC, etc.
The agritech startup — which is into production and B2B supply of organic fruits and vegetables — had previously raised money from a few angels like Amit Gupta (Co-founder of InMobi/Yulu Bikes), Shobhit Shukla (Co-founder of Near) and key executives from companies like Rothschild and InMobi, among others.
With the completion of this round, it has raised a total funding of $1 million. The startup will invest this money for future expansion into new geographies, hiring extensively in technology, sales, and marketing functions.
(L-R): Nagendra Kalkuli, Pradeep Kumar ML, Sundararaman (Organic farmer/mentor), Rahul Saria and Abhisek Bhagchandka
The company claims to be building India's first organic production focused traceability application – an area that has seen substantial interest in recent times, with an increased focus around eating farm-fresh and healthy produce.
Co-founded by Rahul Saria, Nagendra Kalkuli, Abhisek Bhagchandka, and Pradeep Kumar ML in 2017, Nimble Growth Organics provides technical know-how and controls the complete production and quality at the farm level with its in-house developed proprietary package of practice (PoP).
At present, the agritech startup works with 280+ farmers across Karnataka. It deals in 85+ SKUs, and in the last six months, the company has doubled its volume (~200 tonnes per month on an average) with an ARR of over Rs 10 crore. Nimble Growth caters to the Bengaluru and Hyderabad market and plans to expand soon.
"We are committed to creating a fundamental business model with all-around upgradation for all our stakeholders,” said Co-founder Rahul.
"The participation from industry veterans, especially from the Agri domain, gives us wings in our efforts to take the business to the next level,” added Co-founder Nagendra.
"NimbleGrowth team has come a long way, and it has been an amazing experience to see them grow over the past few years. The founding team brings the right balance of social and business entrepreneurship, and I am sure they will play a big role in India's organic food revolution,” stated Rahul Agarwal, CFO at Near.co., an angel investor since 2017, who re-participated in this seed round.
Edited by Suman Singh
Link : https://yourstory.com/2021/09/bengaluru-agritech-startup-nimble-growth-organics-seed-round-funding
Author :- Sujata Sangwan ( )
September 24, 2021 at 01:31PM
YourStory