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Sunday, May 19, 2024

First Indian farmer-led Sahyadri Farms gets Rs 310 crore  in expansion funding

Sahyadri Farms Post Harvest Care Limited  has secured funding of Rs.310 crore. The company will use the money to expand farmers’ businesses.

Sahyadri Farms Post Harvest Care Limited received Rs.310 crores (about €40 million) in expansion funding from a consortium of impact-oriented investors. Sahyadri Farms is seen as well-positioned by Incofin, Korys, FMO, and Proparco to assist farmers in managing their businesses more effectively and sustainably.

India is full with young, ambitious individuals (74% of the population is under 45 years old) who want to improve their life via hard work and entrepreneurship.

However, the country continues to face challenges relating to gender inequality, a lack of education, and generational wealth disparities.

Farmers continue to face significant challenges due to outdated technologies, inefficient supply networks, and a lack of access to funding.

In order to solve these complicated challenges, the country is experiencing a significant push toward entrepreneurship.

Sahyadri Farms is a fantastic and inspiring example of a rural business that offers comprehensive solutions to small and marginal farmers. A group of ten farmers began producing and exporting fresh grapes to Europe in 2010.

Sahyadri Farms, the largest exporter and processor of fruits and vegetables, now serves over 18,000 farmers and more than 31,000 acres of land with nine crops.

The company works with its farmers from crop selection to farming operations, from inputs to harvesting and marketing their agricultural products.

The firm offers a digital platform for farmers to learn about high-yield crop kinds, agricultural inputs, real-time weather data, and market access. Sahyadri has a significant socioeconomic influence on farmers’ life.

Namdeo Pawar, one of the farmers who benefited from the corporation, said,  “In 2012, I was on the point of selling my land. Sahyadri helped me get back up, and I pushed myself to go back to work. My income rose as a result of Sahyadri. I even paid off my bank loan in 2014.”

Working with Sahyadri Farms also resulted in a positive change for farmer Anil Dawre: “I farm on less than one acre, because my home and an animal shed take up a portion of my property. Group farming was a huge success. My parents had no idea their son’s goods would go international. Their happiness has no boundaries.”

Sahyadri Farms will use the funds from Korys, FMO, Proparco, and Incofin funds  to grow the farmers’ enterprises.

Sahyadri Farms intends to expand its processing capacity for fruits and vegetables, build a biomass plant to generate electricity from process waste, and upgrade its infrastructure, including its packhouses.

Vilas Shinde, the company’s founder and Managing Director, says, “The concept of Sahyadri Farms is to connect farmers and make them think like professional entrepreneurs. By making farming a profitable and feasible activity for each small and marginal farmer, we are developing a sustainable, scalable, and profitable organization for all of our stakeholders.”


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