Ergos Business Solutions Pvt. Ltd has raised Rs 22.5 crore as part of Series-A funding from UK-based CDC Group Plc. With this, Ergos has closed the round at Rs 81 crore.
Earlier in March 2020, Ergos raised Rs 35 crore from Aavishkaar Capital. Subsequently, it had raised Rs 23 crore from Chiratae Ventures.
Founded in 2010 by Kishor Jha and Praveen Kumar, Ergos has been building a “grain bank” model aimed at small and marginal farmers in India. The model, which has been piloted in Bihar, provides doorstep access to post-harvest supply chain solutions.
Commenting on the development, Kishor Jha, Founder and CEO, Ergos, said: “We are building Ergos primarily to extend post-harvest support to small and marginal farmers on storage, credit and market linkages at the farm-gate. We are leveraging technology to empower farmers and enable them to be key decision-takers with respect to their crop produce.”
“We are extremely excited to have CDC on board, and along with the continued support from Chiratae Ventures and Aavishkaar Capital, we intend to rapidly scale our geographic footprint and remain steadfast in our desire to cater to millions of farmers directly at farm-gate over the next few years,” Jha added.
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