 "Potato supply chain SV Agri raises Rs 25 crore in series-B funding")
Siddhi Vinayak Agri Processing (SV Agri), a potato value chain player, has raised Rs 25 crore Series-B round of funding led by Lok, an impact investor.
Siddhi Vinayak Agri Processing is an end-to-end potato supply chain management company that works directly with over 3,000 farmers across India. This investment marks Lok’s first deal in the agri-space. Aspada Investments, a leading early stage venture fund also participated in the round. Intellecap was the exclusive advisor to SV Agri on this transaction.
The Series A investment in the company was completed in 2011 by SONG, a fund backed by Soros Economic Development Fund, Omidyar Network and Google, which is also managed by Aspada.
The funds will enable SV Agri expand its procurement operations, scale up the production of its own brand of high quality potato seeds, strengthen its engineering vertical, invest in team building and bolster its technology platform, according to company's release.
Founded in 2009 by Hemant Gaur and Ganesh Pawar, with cumulative of 35 plus years of experience in potato value chain, SV Agri is an integrated agri supply chain player providing a range of pre and post-harvest solutions to potato farmers and processors.
Talking about the latest round of funding Hemant Gaur, cofounder, SV Agri said, SV Agri will use the investment to expand its presence in the potato seeds/ tuber markets and potato processing equipment by expanding the range of solutions offered, and take lead in creating innovative products that go beyond chips.