Agritech firm Origo raises Rs 35 cr debt from Northern Arc Capital, others

Agritech supply chain and trade finance firm Origo on Monday said it has raised Rs 35 crore debt from Northern Arc Capital and other investors.

Origo provides end-to-end agriculture supply-chain solutions such as procurement, storage, and financing.

Origo group firms Origo Commodities and Origo Finance, will use the fund for securitizing the agricultural markets and streamlining the supply chain mechanism for agri produce in India, a company statement said.

Origo Commodities India (OCI) has raised Rs 15 crore from Northern Arc while Origo Finance raised Rs 20 crore for development of micro-lending avenues and agri supply chain financing.

The funding will help Origo to improve agri processes, warehousing, and accessibility to lakhs of Indian farmers who are in dire need of tech-enabled services in the country.

 

Origo has managed 25 million tonnes of commodities and reducing food grain wastage of 3 million tonnes so far.

Commenting on the funding from three venture capital firms, Sunoor Kaul, co-founder of Origo Commodities, said, "Through the support of Northern Arc and other financial partners, we aim to serve the agri ecosystem by providing solutions that can take care of all commodity needs for procurement, financing and warehousing."

Origo Commodities manages assets worth Rs 8,500 crore and is present in 12 states in India.

Through its trade finance platform, TradeFi, Origo enables trade and trade finance for better price discovery and a national platform for agri commodities.