Agro-tech company Samunnati’s gross transactions exceed 10,000 crore rupees
Samunnati, an agricultural value chain facilitator and India’s largest agro-tech company, announced on Monday that it has achieved gross transaction value (GTV) of 10,000 crore rupees across its business in agro-commerce and agrofinance.
Interestingly, 50% of this GTV has happened in the last 18 months. Samunnati said his vision is to make markets work for small farmers and to make agricultural value chains work at a better balance.
âThe Rs 10,000-Crore-GTV brand is an important step in our journey to enable agricultural value chains to operate at a higher balance. We are grateful to our customers, partners, stakeholders and most of all, the farmers for their unwavering faith and support over the past few years, âsaid Anil Kumar SG, Founder and CEO of Samunnati.
“We are fortunate to have a cohort of investors, lenders and other stakeholders who have encouraged us to move forward on our mission. We strive to make agriculture profitable and sustainable for the millions. small farmers who ensure food security in our country, âhe said. added. Samunnati currently has access to over 1,500 farmer collectives with a membership base of over 6 million farmers and plans to impact one in four farm households through its network by 2027.
Recently, Samunnati and the Federation of Indian FPOs and Aggregators (one of the affiliates of NAFED) also signed a Memorandum of Understanding (MoU) to support FPOs. The Federation of Indian POs and Aggregators (FIFA) is a national association of more than 100 producer organizations. As part of the MoU, Samunnati and FIFA will guide FPOs through various training modules focused on their capacity building and institutional development, deploy the Samunnati FPO scoring and assessment tool, give FPOs access to Samunnati’s digitization suite, will provide market links and financing solutions.
The Samunnati Foundation, the non-profit subsidiary of Samunnati, also recently signed a memorandum of understanding with the IIT Madras Incubation Unit (IITMIC) to develop innovation in agriculture and help support startups. agro-technologies in their objectives. Through this partnership, organizations will provide support / incubation facilities to entrepreneurial businesses, prepare position papers and propose policy recommendations.
Among other things, the merger will facilitate research and development in areas such as the promotion of alternative crops, the adoption of a green agricultural ecosystem, including the use of green agricultural machinery, solar pumps and the like, locally developed food processing technologies and other supporting services. for the farming community.