Pune-based agritech startup Kisankonnect has successfully secured INR 31 crore (~$3.7 million) in pre-Series A funding, with a strategic investment from climate-focused fund Green Frontier Capital and crop protection company Dhanuka Agritech Limited. The funding round also saw participation from VC Grid, a community-led investment platform, along with contributions from select family offices.
Kisankonnect, founded in 2020 by Vivek and Nidhi Nirmal, aims to utilize the newly acquired funds to implement climate-smart agricultural interventions across its network of 5,000 farmers. The startup also plans to enhance its fresh-produce supply chain technology and expand its footprint by establishing new farm stores in Mumbai and Pune.
The Agritech firm, which raised capital from Actor Shilpa Shetty in May of the previous year, directly sources agricultural produce from its extensive network of farmers. It specializes in delivering fresh vegetables and fruits through its in-house delivery channels and offers a range of agri-produce and preservative-free snacks under the brands Village Staples and Mom’s Kitchen.
Kisankonnect is committed to fostering sustainable farming practices, encouraging farmers to cultivate crops free from pesticides and chemicals. The company’s technology-enabled, temperature-controlled, and fully-traceable supply chain is touted as unique in the country. This innovative approach ensures that sorted and graded fresh produce reaches consumers in Mumbai and Pune in the shortest possible time, significantly reducing wastage and contributing to fair pricing for both farmers and consumers.
Vivek Nirmal, Co-founder and CEO of Kisankonnect, expressed enthusiasm about the partnership with Green Frontier Capital, Dhanuka, and other ESG Tech-focused investors. He highlighted the company’s commitment to strengthening the farming community by implementing interventions for soil improvement, reducing the use of chemical fertilizers and pesticides, and enhancing farm productivity.
Sandiip Bhammer, Managing Partner and Founder of Green Frontier Capital, praised Kisankonnect for its dedication to soil improvement, reduced chemical usage, and elevated farm productivity. He emphasized that these values align seamlessly with GFC’s mission to champion climate tech innovations.
In the context of the broader landscape, the funding success of Kisankonnect is noteworthy amid a 33% decline in total funding for agriculture and foodtech startups in 2022, compared to the previous year. According to a report by venture capital firms Agfunder and Omnivore, total funding amounted to $2.4 billion, with a reduction in the number of deals from 230 in 2021 to 133 in 2022.
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