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Mahindra Univeg has invested an undisclosed amount in ecommerce startup MeraKisan.
Mahindra Univeg Pvt. Ltd, is a joint venture between Mahindra Agri Solutions Ltd and Belgium-based Univeg (Greenyard Foods). It focusses on developing a fresh fruit supply chain in India and imports fruits to make high-quality produce available to domestic consumers.
Pune-based MeraKisan is a digital marketplace which ensures high-quality food products to be delivered at users’ door step. It aims to bring Indian farmers and producers together with their buyers, allowing customers to buy direct from the person who grows or makes the product. It sources fresh vegetables and fruits directly from farmers and sells it to the customers.
Accordingn to the company website MeraKisan’s clients include Big Bazaar, Future Retail, Big Basket etc.
Ashok Sharma, MD & CEO, Mahindra Agri Solutions Ltd said, “Our investment (minority shareholding) in MeraKisan will enable the farmers and the consumers to connect digitally and create a win-win situation for both farmers and customers.”
He added that Mahindra Agri Solutions interacts with farmers to improve their produce, quality and productivity by providing latest advances in farm technologies and agricultural know how.
With this move Prashanth Patil, founder of MeraKisan, was been roped in to spearhead its online grocery services. Prashanth has brought his online property under the newly incorporated firm and has picked up 66.83% stake in MeraKisan Pvt. Ltd, through a fresh issue of shares. He has also been made CEO-designate of the firm, Mahindra & Mahindra.
In August 2016, Delhi-based agritech startup DayBox raised $104K (INR 70 Lakh) from Ashutosh Lawania (co-founder, Myntra); Rajul Jain (SVP Supply Chain, Myntra and co-founder, Yebhi.com); Badal Malick (ex-VP Omnichannel, SnapDeal); Rishi Gupta (CEO, Fino Paytech Ltd); and six other angel investors.
The development was reported by Business Standard.
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