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KisanKonnect raises Rs 72 Cr led by Bajaj Finserv Group

EntrackrEntrackr · 28d ago
KisanKonnect raises Rs 72 Cr led by Bajaj Finserv Group
Medial

KisanKonnect raises Rs 72 Cr led by Bajaj Finserv Group Farm-to-fork company KisanKonnect has raised Rs 72 crore (around $8 million) in a pre-Series B funding round led by Bajaj Finserv Group, with participation from Mistry Ventures, Desai Foods, Dhanuka Agritech, and Action Tessa Family Office. In May, KisanKonnect raised $4.5 million in a Series A funding round led by Mistry Ventures. The fresh proceeds will be used to scale its fresh produce supply chain intelligence and omni-channel D2C model. Co-founded in 2020 by Vivek and Nidhi Nirmal, KisanKonnect sources directly from farmers and delivers to over 1 lakh customers in Mumbai and Pune through its app and farm stores. It works closely with farmer communities to grow food sustainably while leveraging proprietary technology to deliver fresh vegetables and fruits. Vivek Nirmal, co-founder, said, “We have built proprietary tech tools and strong farmer partnerships that transform perishables logistics into a predictable, scalable, and consumer-friendly model. This fundraise will help us expand our technology stack, deepen our farmer network, and scale both our digital and offline presence.” KisanKonnect has developed supply chain intelligence tools covering IoT and RFID-based traceability, AI-driven demand forecasting, a farmer advisory app, and real-time dashboards, allowing it to handle over 650 SKUs of temperature-sensitive produce while reducing wastage. Its digital app caters to younger customers with 60-minute delivery across Mumbai and Pune, while KisanKonnect Farm Stores serve those who prefer to shop offline.

Mistry Ventures leads $4.5 Mn round in KisanKonnect

EntrackrEntrackr · 9m ago
Mistry Ventures leads $4.5 Mn round in KisanKonnect
Medial

Direct-to-consumer (D2C) brand KisanKonnect has raised $4.5 million in a Series A funding round led by Mistry Ventures. The round also saw participation from Times Group’s Brand Capital, Bollywood actress Shilpa Shetty, VC-Grid, Vishwang Desai, and prominent family offices. The Ahmednagar-based company had previously raised $3.7 million in a pre-Series A funding round led by Green Frontier Capital. The proceeds will be used to strengthen its tech infrastructure, scale operations, expand its presence in key urban markets, and enable the use of AI in farm sourcing and the supply chain to enhance efficiency and effectiveness, KisanKonnect said in a press release. Co-founded in 2020 by Vivek Nirmal and Nidhi Nirmal, KisanKonnect is a farmer producer company with an integrated farming system that delivers fresh, hygienic fruits and vegetables sourced locally from over 500 farms, directly to customers' doorsteps at fair prices. Since its inception in 2020, KisanKonnect claims to have empowered traditional agricultural trade by establishing a robust, tech-enabled supply chain for its vertically integrated business. The company has built a network of over 5,000 farmers, promoting sustainable farming practices and regenerative agriculture methods. Its fresh produce, including fruits, vegetables, and dairy, is distributed through a mobile app and a growing network of ‘KisanKonnect Farm Stores’ across Mumbai and Pune. In addition to fresh produce, KisanKonnect’s premium dairy products, made from antibiotic-free and hormone-free milk sourced directly from dairy farmers, are gaining popularity. The company’s emphasis on quality and transparency ensures it stands out in the competitive fresh-commerce landscape. KisanKonnect initially started with a 48-hour delivery model four years ago and currently delivers within 4-6 hours across Mumbai and Pune. The startup has recently launched a pilot for 30-minute delivery, which has been highly appreciated by consumers. This capability positions KisanKonnect as a major player in the fast-growing quick-commerce space, enabling it to reach a broader consumer base while empowering farmers to actively participate in this growth.

Exclusive: Otipy pilots electric carts to sell fruits and veggies offline

EntrackrEntrackr · 9m ago
Exclusive: Otipy pilots electric carts to sell fruits and veggies offline
Medial

Exclusive: Otipy pilots electric carts to sell fruits and veggies offline Otipy, a farm-to-fork company, has introduced electric carts in Gurugram city as part of a pilot project to sell fruits and vegetables offline, sources aware of the development told Entrackr. According to sources, the company has been piloting approximately 15 carts in the city for the past 5-6 months. Based on the feedback received, it plans to deploy additional carts in the coming months. “Apart from fruits and veggies, it also plans to add daily essentials such as milk and bread,” said a person familiar with the development. The offline carts will operate in the morning between 6:30 am and 10 am and in the evening between 6:30 and 10 pm. "Otipy plans to organize the push carts through a franchise model. Currently, each cart generates daily sales of Rs 8,000-10,000 in fruits and vegetables, with most operating profitably,” said another source. According to sources, Otipy aims to deploy 5,000 to 7,000 such carts by 2026 in Delhi NCR and Mumbai. "With the franchise model, one can earn Rs 30,000 to 35,000 per month." Otipy operates a farm-to-fork delivery model by procuring directly from farmers and delivering fresh produce to consumers every morning. Currently, it operates in Delhi-NCR and Mumbai, with plans to launch in Hyderabad, Bengaluru, and Chennai. The Varun Khurana-led company has raised $44 million to date, including its $32 million Series B round led by Westbridge Capital in 2022. For the fiscal year ending in March 2024 (FY24), Otipy claims to register Rs 175 crore in topline. The firm targets Rs 500 crore in gross revenue in FY25 with EBITDA profitability.

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