Agri-tech Firm Samunnati's Gross Transactions Cross Rs 10,000 Crore

Samunnati, an agri-value chain enabler and India’s largest agri-tech enterprise, on Monday announced hitting the Rs 10,000 crore gross transactional value (GTV) mark across its agri-commerce and agri-finance business.

Interestingly, 50 per cent of this GTV came in over the last 18 months. Samunnati said that its vision is to make markets work for smallholder farmers and make agri value chains operate at a higher equilibrium.

“The Rs 10,000-Crore-GTV mark is a significant milestone in our journey to enable the agri value chains to operate at a higher equilibrium. We are grateful to our customers, partners, stakeholders and above all, the farmers for their sustained faith and support over the past years," said Anil Kumar S G, Founder and chief executive officer of Samunnati.

"We are blessed to have an enabling cohort of investors, lenders and other stakeholders who have encouraged us to move forward on our mission. We strive to make agriculture profitable and sustainable for the millions of smallholder farmers that ensure our nation's food security," he added. Samunnati currently has access to over 1500 farmer collectives with a member base of over 6 million farmers and envisions impacting one in every four farming households through its network by 2027.

Recently Samunnati and Federation of Indian FPOs and Aggregators (one of the subsidiaries of NAFED) also signed a Memorandum of Understanding (MoU) to support FPOs. Federation of Indian FPOs and Aggregators (FIFA) is a national level association of more than 100 producer organizations. As part of the MOU, Samunnati and FIFA will guide the FPOs through various training modules focused on their capacity building and institutional development, deploy Samunnati’s FPO Grading and Assessment Tool, give FPOs access to Samunnati’s Digitization Suite, provide market linkages and financing solutions.

Samunnati Foundation, the non-profit subsidiary of Samunnati, has also recently signed a memorandum of understanding (MoU) with IIT Madras’ Incubation Cell (IITMIC) to develop innovation in agriculture and help support agritech startups in their goals. Through this partnership, the organizations will provide incubation support/facilities to entrepreneurial ventures, prepare position papers and propose policy recommendations.

Among other things, the tie-up will facilitate research and development in areas such as promotion of alternative crops, adoption of a green agricultural ecosystem including use of green agricultural machinery, solar pumps and others, indigenously developed food processing tech, and other support services for the agricultural community.

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