Prodapt and its associate companies have formed Prodapt Ventures. Prodapt Ventures will invest an initial allocation of Rs 100 crores across early-stage companies and also help incubate transformative businesses in selected industry verticals. The focus areas of investments will be technology and service businesses in the communications industry and transformative ideas in agri-tech and agri-distribution in India.
Prodapt is a global leader in providing IT, product, network and operational services for the digital service provider (DSP) vertical. With offices across Europe, USA, Africa and India, Prodapt employs over 2000 telecom and DSP technology and domain specialists.
Headquartered in Chennai, Prodapt has delivery centers in North America, Europe, India and Africa. Prodapt is part of a 120-year-old business conglomerate, The Jhaver Group and employs over 16,500 people in over 64 global locations.
Vedant Jhaver, group president said, "The telecommunications industry globally is consolidating into multi-channel operators, which creates tremendous opportunities in next-generation technology adoption and industry shifting business ideas. Similarly, agriculture in India is set for a revolution. The agricultural industry in India will see a huge transformation over the next decade with the combination of technology, connectivity and further boosted by government initiatives. Leveraging our business platforms in telecom and agriculture distribution, our investments will focus on these verticals. Prodapt Ventures will be able to provide our portfolio companies deep insights, guidance, connections and help them to build quicker go-to-market partnerships through our group of operating businesses."
Prodapt's associate companies, Tropical Agro Systems and JU Agri Sciences form one of India's leading manufacturing and distribution businesses in agricultural inputs. The Agri inputs businesses have a network of over 10,000 dealers and distributors and over 1000 marketing personnel. Prodapt Ventures will be able to accelerate companies in the agriculture sector and their businesses with the support of Prodapt's associate companies.
Agritech is fast becoming an area of interest for both entrepreneurs and investors. Using technology in an age old traditional industry is hoped to modernize and increase world food security and increase the quality of life for farmers especially those in rural areas. Some revolutionary startups in the space are recently seed funded AgShift which hopes to develop the world’s first autonomous food inspection system and to eliminate global food waste; AgroStar which has created an online marketplace for farmers to buy products they need at affordable prices; Ergos which is creating a warehouse system for farmers to store their bumper crops to avoid damage to their produce; Triton Foodworks which is using hypoponic farming techniques to reap a harvest in the smallest possible space; Raw Pressery and Paper Boat, which is bringing to attention the need to live healthy through ‘clean labelling’ efforts.