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Nutrifresh signs Rs 2,500 Cr agriculture MoU with Maharashtra govt at Davos

EntrackrEntrackr · 9d ago
Nutrifresh signs Rs 2,500 Cr agriculture MoU with Maharashtra govt at Davos
Medial

The Government of Maharashtra has signed a Memorandum of Understanding (MoU) valued at approximately Rs 2,500 crore with Rural Enhancers Group and Nutrifresh Farm Tech at the ongoing World Economic Forum in Davos. The agreement was signed in the presence of Maharashtra Chief Minister Devendra Fadnavis. The MoU was executed by Ambar Ayade, Managing Director and CEO of Rural Enhancers Group, and Sanket Mehta, CEO of Nutrifresh Farm Tech. The MoU focuses on investments in climate-smart and technology-driven agriculture in Maharashtra and is among the first agriculture-focused agreements signed at the forum. The project is scheduled to go live from April 2026 and will leverage Nutrifresh’s technological capabilities. Founded in 2019 by Ganesh Nikam and Sanket Mehta, Nutrifresh uses Artificial Intelligence (AI) and Internet of Things (IoT)-based technologies to deliver agricultural produce. The company plans to expand its operations to 2,000 acres by 2028 and is targeting annual revenue of $250 million. Nutrifresh currently offers over 50 products, operates across more than 15 Indian states, and serves select international markets. Under the agreement, Rural Enhancers Group will act as the funding agency and project integrator, while the Government of Maharashtra will provide policy, institutional, and implementation support. The project will be financed through a blended funding structure involving UAE-based financial institutions, Indian public sector banks, development finance institutions, and foreign banks. Commenting on the agreement, Ambar Ayade said the initiative is expected to support employment generation, promote climate-resilient agricultural practices, encourage agri-tourism, support women’s participation, and contribute to improving farmers’ incomes.

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Agritech startup Nutrifresh books Rs 14 Cr PAT on Rs 145 Cr revenue in FY25

EntrackrEntrackr · 3m ago
Agritech startup Nutrifresh books Rs 14 Cr PAT on Rs 145 Cr revenue in FY25
Medial

Agritech startup Nutrifresh books Rs 14 Cr PAT on Rs 145 Cr revenue in FY25 Agritech startup Nutrifresh Farms delivered another strong performance in FY25, nearing Rs 150 crore in operating revenue with a 50% year-on-year growth. Significantly, the Pune-based company’s profit also rose 55% in the fiscal year ending March 2025. Nutrifresh Farms reported 50% year-on-year growth in its operating revenue to Rs 145.22 crore in FY25 against Rs 96.82 crore in FY24, according to the company’s consolidated financial statements filed with the Registrar of Companies (RoC). Founded in 2019, Nutrifresh Farms uses hydroponic technology to grow pesticide-free fruits and vegetables in climate-controlled farms. Operating largely on a B2B model, it supplies fresh produce to clients like Zepto, Swiggy Instamart, Blinkit, McDonald’s, and Spar, and also offers customized salads through subscriptions. Sale of fresh produce and salads was the sole source of operating revenue for the company. The firm also earned Rs 4.55 crore on interest on deposits which took its total income to Rs 149.77 crore in the last fiscal year. Procurement of materials accounted for 72% total expenses for Nutrifresh which stood at Rs 96.12 crore. This cost surged over 70% in FY25 from Rs 56 crore in the previous fiscal year. Employee benefit expenses also increased by 70% to Rs 10.96 crore while depreciation and amortization expenses accounted for Rs 10.4 crore. Finance cost, rent, transportation cost and other overheads led the overall expenses for the firm to Rs 134.25 crore in FY25 which rose by 48%. Driven by a 50% rise in operating scale, Nutrifresh Farms recorded a 55% jump in operating profit to Rs 13.86 crore in FY25 from Rs 8.94 crore in FY24. The company’s EBITDA margin and ROCE improved to 17.31% and 5.6%, respectively. On a unit level, the company spent Rs 0.92 to earn every rupee of operating revenue in the last fiscal year. According to startup data intelligence platform TheKredible, Nutrifresh Farms has raised approximately $20 million across two funding rounds, including a $5 million seed round in May 2022.

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