Agritech Startup ONO Raises Rs 11 Crore In Seed Funding To Improve Supply Chain
The company plans to use the funds to improve the agricultural supply chain and provide economic growth opportunities to farmers and other players in the agricultural ecosystem across India.
Agritech startup ONO raised Rs 11 crore in a seed funding round led by Aeravti Ventures, with participation from Indigram Labs.
The company plans to use the funds to improve the agricultural supply chain and provide economic growth opportunities to farmers and other players in the agricultural ecosystem across India's APMC/mandi network, it said.
ONO aims to enhance efficiencies in the agriculture sector by leveraging technology. The company has created a data-first digitisation platform to address important challenges in the agriculture ecosystem. These include access to formal credit, market discovery, price intelligence and operational inefficiencies.
“We have seen an unprecedented acceptance of our products in mandis and we are confident in our ability to scale our platform and build a sustainable business that creates tangible impact. Having long-term partners, such as Aeravti Ventures and other industry leaders, on board allows us to broaden our horizons and catalyse our growth," said Rama Rao Kancharapu, founder and chief executive at ONO.
Rishabh Singh, managing partner at Aeravti Ventures, said, “Doubling down on India’s agriculture ecosystem has been a key focus for us. We believe in the transformative power of technology to address systemic challenges, and ONO is well-positioned to disrupt the mandi ecosystem of India.”
ONO said it currently operates in six states across more than 45 APMCs/mandis, with over 30,000 partners onboarded and transactions covering seven commodities.
