Mahindra Agri buys 33% in Agricultural Startup MeraKisan for an undisclosed amount
Mahindra Agri invests in agricultural startup MeraKisan for 33% of stake. Ashok Sharma, MD & CEO of Mahindra Agri tells media that they have always been working towards bringing a positive change in terms of the life of farmers. This investment has happened because the startup’s goals are in line with their vision.
Prashanth Patil, CEO of MeraKisan says “We are proud to be associated with an organization like Mahindra Agri. we share a common goal and, together will reach the goal sooner than expected.”
MeraKisan is a digital platform that connects farmers and agriculture producers with buyers. This platform allows users to get fresh produce and fruits. The middle man is taken out with this solution. The platform allows consumers a cost benefit of 10% while farmers get about 15-20% higher.
Agriculture is an untapped industry for startups right now. There are lot of subsidies that government provides in this industry so that farmers get enough support. As per Indian Brand Equity foundation GDP of agriculture and allied sectors in India was recorded at US$ 259.23 billion in FY15.
According to the advanced estimates of Central Statistical Organisation, agriculture and allied sector recorded a growth of 8.3 per cent in FY15. Agriculture is the primary source of livelihood for about 58 per cent of India’s population. MeraKisan operates in Pune and Mumbai as of now. With this investment we are hoping they penetrate into other cities. Read Startup News