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Agri-tech start-up Ergos Raises Rs 38.5 Crore in Series A round from Chiratae Ventures and Aavishkaar Capital

The Ergos tech platform operates like a bank and offers Storage, Digitisation, Credit and Liquidation facility to Farmers through the single platform. Over the last five years the company’s Grainbank model has consistently helped farmers achieve significantly higher incomes through better price realization of their produce.

Ergos Business Solutions, agri-tech start-ups, has raised an additional capital of INR 38.5-Cr (US $ 5 Million) in Series A round with fresh investment from Chiratae Ventures and Aavishkaar Capital. Chiratae Ventures led the Series A round with an investment of Rs 23.5 crore whereas Aavishkaar Capital, the Impact Investing arm of the Aavishkaar Group, invested an additional Rs 15 crore. The equity round is expected to be an Rs 80 crore raise with another institutional investor set to join the round.

Founded by young entrepreneurs from Bihar, Kishor Jha and Praveen Kumar, Ergos has been working on  a unique farm-gate based Grainbank model that they have piloted in multiple districts of Bihar.  The unique model enables farmers to digitize their food grains and also provides them with doorstep access of end-to-end postharvest supply chain solutions by leveraging a robust technology platform to ensure seamless service delivery.  

The Ergos tech platform operates like a bank and offers Storage, Digitisation, Credit and Liquidation facility to Farmers through the single platform. Over the last five years the company’s Grainbank model has consistently helped farmers achieve significantly higher incomes through better price realization of their produce.

Speaking on this investment, Kishor Jha, Founder & CEO, Ergos, said, “We are building the Ergos Grainbank to serve small and marginal farmers by leveraging technology and data sciences to disrupt the way farmers deal with their produce. We are extremely excited to have Chiratae on board; and along with the continued support from Aavishkaar Capital, we intend to rapidly scale our geographic footprint and remain focussed to service farmers directly at farmgate at over 2000 Grainbank locations over the next few years.”

TCM Sundaram, Founder and Managing Director, Chiratae Ventures said,  Ergos is bridging the large gap between the selling price of produce and the realisation of farmers at the farm-gate by using technology to facilitate credit and market linkages to the grains stored with it. This opportunity is massive and Ergos is expected to capitalise on its early lead to become a market leader that creates sustainable development to the farmers life.”

Ajay Maniar, Partner, Aavishkaar Capital said, “We believe the opportunity is very significant and the timing opportune to enable Ergos to rapidly scale the business & empower farmers.”


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Ergos Chiratae Ventures Aavishkaar Capital

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