Noida-primarily based agritech startup Unnati on Monday stated it raised $1.7 million in Pre-Series A spherical from NABVENTURES — NABARD’s agriculture-focused mission fund. Angel investor Sumeet Seraf additionally participated in the spherical and recommended the startup at the deal transaction.

Founded in 2017 through Amit Sinha and Ashok Prasad, Unnati affords farmers access to essential inputs, and allows them get higher costs for his or her produce in a truthful and transparent way in the marketplace.

In a statement, Unnati stated it’s going to use the fund raised to scale up its tech platform for the farmers and farmer manufacturer organisations (FPOs), in conjunction with putting in of more associate shops.

Co-founder Ashok Prasad stated, “At Unnati, our overarching aim is to empower the country’s farmers and convey the best of technology to enhance their productivity. Since we cater to a large number of farming needs, the present day capital injection will permit us to amplify our cost proposition in phrases of modern virtual equipment that we offer. This investment will assist us put money into technology, and in growing our geographical and crop footprint.”

The Noida-established startup is an amalgamation of a fintech platform that offers farmer marketplace linkages, in addition to agri enter promoting to farmers and FPOs. It has a massive community of associate shops for promoting agri inputs and shopping produce withinside the eastern, central, and western India.

Speaking on the investment, G. R. Chintala, Chairman, NABARD and NABVENTURES, stated, “Unnati has created a platform to digitalise the major components in the food and agribusiness cost chain. The predictive competencies of the information captured through the platform beautify efficiencies, at the same time as its transparent strategies assist in constructing trust amongst farmers and FPOs. Unnati has the capacity to be a national platform for more than one services in the agricultural cost chain.”

In fact, Unnati desires to alternate the agriculture area through developing farmpreneurs via its virtual equipment. The tech-pushed platform has formerly obtained investment from numerous angel investors, which includes Vijay Shekhar Sharma (Paytm); KRS Jamwal; current and previous Paytm senior executives Vikas Garg, Shankar Nath, and Renu Satti; Gemba Capital; and Ajay Lakhotia.