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New Delhi, Dec 12 () Agritech startup Ecozen on Thursday said it has raised USD 6 million (around Rs 42 crore) from investors to fund its expansion plan.
Based in Pune, Ecozen was founded by three IIT Kharagpur alumni, Devendra Gupta, Prateek Singhal and Vivek Pandey. It develops technology-enabled products to strengthen farm-to-fork value chain of perishables.
Ecozen said in a statement it has completed its USD 6 million Series A fund raise, after receiving investment from Sathguru Catalyser's Innovation in Food &amp; Agriculture Fund (IFA Fund). This funding is on top of the investment received in July 2019 from Caspian and the Hivos-Triodos Fund".
Omnivore, which originally invested in Ecozen in 2015, also participated in this round.
The company had raised USD 3 million in seed funding.
Ecozen's irrigation and cold chain products (Ecotron and Ecofrost) help farmers who grow perishables to increase their yields, store their produce longer, and realise higher prices. The company said that about 25,000 farmers in India use its products.
A Krishna Kumar, ex-MD of State Bank of India, will be joining Ecozen's board as the company embarks on its next phase of growth, the statement said.
Ecozen Co-Founder &amp; CEO Devendra Gupta said: "The funding raised will enable us to expand our product range, production capacity, and enter new geographies".
Vijayaraghavan Kannan, Senior Partner at IFA Fund said: "Ecozen has focused on using technology as a differentiator and has pioneered innovative products addressing market imperfections and catering to underserved segments of agriculture &amp; food value chain".
Ravi Narasimham, Investment Director at Caspian, said, "...we believe this round of funding will help Ecozen realize its potential by furthering its business strategy across new geographies by launching its innovative product range". MJH BAL

Agri-tech startup Ecozen raises USD 6mn in Series A funding

<keyword id="176328" type="General" weightage="100" keywordseo="tata-coffee" source="Orion">Tata Coffee</keyword> on Tuesday reported a 44.71 per cent decline in consolidated net profit during the December quarter at ₹38.40 crore. The consolidated net profit of Tata Coffee Ltd (<keyword id="150734" type="General" weightage="50" keywordseo="tcl" source="Orion">TCL</keyword>) stood at ₹69.46 crore in the year-ago period, it said in a regulatory filing. Consolidated total income for the quarter witnessed a 19.13 per cent growth during the October-December period at ₹754.76 crore as compared to ₹633.52 crore in the corresponding period the previous year, driven by higher realisations in Eight O'Clock Coffee (EOC) and instant coffee businesses of the company. The company, a subsidiary of Tata Consumer Products formerly known as <keyword id="148911" type="General" weightage="50" keywordseo="tata-global-beverages" source="Orion">Tata Global Beverages</keyword>, stated that the improved price realisations driven by superior product mix in the instant coffee business both in India and Vietnam have aided the company's quarter performance. The operating performance of EOC business was impacted during the quarter under review by higher input and other costs, which are expected to ease over coming quarters, it said. Tata Coffee's Vietnam operations continue to deliver robust sales with improved profitability driven by higher sales of premium products, it said. "The performance of our instant coffee business continues to be robust. Tata Coffee's Vietnam operations continue to be strong with a healthy order pipeline. There is, however, continuing inflationary pressure on costs and impact on instant coffee sales in some geographies. "Our subsidiary, Eight O'Clock Coffee, has registered higher revenues though the profitability for the quarter has been impacted due to higher costs," TCL Managing Director <keyword id="16231803" type="General" weightage="50" keywordseo="chacko-p" source="Orion">Chacko P</keyword> <keyword id="6356986" type="General" weightage="50" keywordseo="thomas" source="Orion">Thomas</keyword> said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/climate-tech-platform-ecozen-raises-25-million-to-expand-beyond-agriculture/articleshow/97278794.cms">Climate tech platform Ecozen raises $25 million to expand beyond agriculture</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/jsw-steel-arm-enters-into-deal-to-buy-31-pc-stake-in-startup-ayena/articleshow/97278651.cms">JSW Steel arm enters into deal to buy 31 pc stake in startup Ayena</a>

Tata Coffee consolidated Q3 net profit falls 45% to ₹38 crore

<ul><li>Since 2017, PE investors pumped in $1.8 billion in <keyword id="2094" type="General" weightage="50" keywordseo="pune" source="Orion">Pune</keyword>’s realty market. </li><li>A large chunk of Grade A stock owned by institutional investors lies in East Pune, but newer locations in West Pune are also becoming popular. </li><li>The report predicts that institutional investors are expected to double their portfolio by 2027. </li></ul>Pune’s real estate sector saw an inflow of $194 million in private equity investments in 2022, according to the latest report by <keyword id="4935506" type="General" weightage="50" keywordseo="savills-india" source="Orion">Savills India</keyword>, a global property consulting firm. Since 2017, PE investors have pumped in $1.8 billion in Pune’s realty market, thanks to opportunities in the office space market. Due to continuous investments, institutional investors now have a strong foothold in the city’s office market. “The city’s improving infrastructure, including the expansion of highways and the development of industrial parks, have contributed to this growth. Its proximity to <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>'s financial capital, Mumbai, makes it an ideal location for companies to establish their operations,” <keyword id="3234814" type="General" weightage="50" keywordseo="praveen-apte" source="Orion">Praveen Apte</keyword>, managing director - Pune, <keyword id="674707" type="General" weightage="80" keywordseo="savills" source="Orion">Savills</keyword> India said. Institutional investors own around 30 million sq. ft. of office space – that’s 45% of Pune’s overall Grade A stock. A large chunk of this stock lies in East Pune, but newer locations in West Pune such as Wakad and Tathawade are becoming popular due to improving infrastructure and increased connectivity. “Pune’s reputation as an educational and research centre has also led to an influx of students and professionals which in turn provides a ready pool of skilled workforce for companies,” <keyword id="208807" type="General" weightage="50" keywordseo="apte" source="Orion">Apte</keyword> added. The report predicts that institutional investors are likely to double their portfolio by 2027. It expects them to add another 27 million sq. ft. of office assets to their portfolios. “Savills expects new institutional investors to enter Pune’s real estate market, while current investors will expand their presence as quality assets grow,” Savills India reported. The city has many infrastructure projects currently under construction or in the planning stages like — smart city development, Ring Road construction, <keyword id="6414924" type="General" weightage="50" keywordseo="bus-rapid-transit-system" source="Orion">Bus Rapid Transit System</keyword>, metro rail, new airport, multiple subways, and flyovers. In addition to office space, institutional investors also own other commercial assets to the tune of 29 million sq. ft. across retail, hospitality, industrial and warehousing sectors. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/climate-tech-platform-ecozen-raises-25-million-to-expand-beyond-agriculture/articleshow/97278794.cms">Climate tech platform Ecozen raises $25 million to expand beyond agriculture</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/harmanpreet-named-captain-of-the-icc-womens-odi-team-of-the-year/articleshow/97278354.cms">Harmanpreet named captain of the ICC Women's ODI Team of the Year</a>

Almost half of Pune’s GradeA office stock is owned by institutional investors: Savills India

New Delhi, Apr 30 () Agri-startups, which are growing at 25 per cent year-on-year basis, can offer tech solutions to help Indian farm sector to keep food and farm supply chain rolling during and post lockdown phase, according to a study by industry body Ficci.This becomes more critical amid the ongoing procurement of rabi (winter) crops and consequent sowing of kharif (summer) crops across the country in the backdrop of COVID-19 scare, it said.There are about 450 active agri-startups in India. Many of them are already working to solve the problems at hand, it added.According to the study, agri-tech startup companies have grown 25 per cent year-on-year. They have received venture capital funding of USD 545 million since 2014. out of this, USD 330 million came in 2019.Highlighting agri-tech solutions, the study said agri-startups can provide aggregation and distribution of farm produce from point of collection to consumption centres.Many startups are trying to connect farmers with buyers, including retailers, e-commerce, processors, cloud kitchens and even direct to consumers.Startups working in this area include Ninjacart, Jumbotail, Bigbasket, ShopKirana, SuperZop, WayCool, MeraKisan, Kamatan, DeHaat, KrishiHub, Agrowave, Loop, Crofarm, FreshoKartz, Agribolo, Himkara, Kisan Network.To provide quality assaying of agricultural commodities, startups like Intellolabs, Agricxlab, Zense, Raav Tech, Occipital, Amvicube and Nanopix are attempting to solve the problem of standardisation through mobile imagery and digitisation.To address post harvest challenges, the study said some startups have begun work on near farm, modular and affordable storage and processing solutions.These storage facilities are intended to give farmers an option to sell the produce at the right price and at the right time, instead of immediate or distressed liquidation of their produce after harvest.The startups in this category include Our Foods, Agri Bazaar, Star Agri, Arya Collateral, Ecozen, Origo, it added.For smooth operation of kharif sowing, the study said startups such as Agrostar, BigHaat, Behtar Zindagi, Unnati, Gramophone, Freshokartz, AgriBolo, DeHaat, Bharat Rohan, and Bharat Agr are offering solutions to optimise the use of agricultural inputs and enable delivery to farmers.Agri-startups are trying to build business models to reach out to farmers directly both online as well as through offline presence in the villages. Such startups can play a pivotal role in making sure that farmers get desired inputs in a timely manner, it said.To reduce labour cost through mechanisation, some start-up companies like Sickle innovations, Distinct Horizon, Tractor Junction, Khetibadi and J Farm service are offering mechanisation solutions for harvesting and sowing.In addition, some of the startups have focused on accurate and timely assessment of soil moisture and developing data-driven controlled irrigation models. The startups in this category include Satyukt Analytics, Flybird, Kritsnam, Agrirain, Manna Irrigation, the study added.That apart, some agritech startups can provide farmers advisory for crop monitoring, including institutional credit and crop insurance.CropIn, SatSure, Farmguide, Niruthi, AgRisk, Skymet. Startups like Samunnati, FarMart, Jai-Kisan, PayAgri, Bijak are specifically working in value chain financing.Many of these startups are using satellite images to geotag farms, assess crop health and estimate output. They are also building algorithms for farm monitoring and models for artificial intelligence to automate and improve predictably of yield and farmers' incomes, the study added. LUX BALBAL

You Searched For "Ecozen" and got 4 results

Agri-tech startup Ecozen raises USD 6mn in Series A funding

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Tata Coffee consolidated Q3 net profit falls 45% to ₹38 crore

PTI

Almost half of Pune’s GradeA office stock is owned by institutional investors: Savills India

Eetika Kapoor

Agri-startups can offer tech solutions to keep food supply chain rolling amid COVID-19 crisis: Study

PTI

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