End-to-end potato supply chain management company Siddhi Vinayak Agri Processing has raised Rs 25 crore in Series-B (second strategic round) funding led by social impact investor Lok and Aspada Investments.
Intellecap was the exclusive advisor to SV Agri, that works directly with over 3,000 farmers across India, on this transaction.
SV Agri raised first round of funds in 2011 from SONG, a fund backed by Soros Economic Development Fund, Omidyar Network and Google, which is also managed by Aspada.
The fresh round of 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, it said in a statement.
"We believe SV Agri's business model is creating significant value for all stakeholders in the potato value chain. Lok is keen on making investments in agri-space and is looking to back entrepreneurs with integrated business models that make agriculture more sustainable for farmers," said Rajesh Babu, Director, Lok Advisory Services.
Founded in 2009 by Hemant Gaur and Ganesh Pawar, SV Agri provides a range of pre and post-harvest solutions to potato farmers and processors.
