Origo, a complete post-harvest management services for agricultural commodities has said that it has raised Rs 35 crore debt from Northern Arc Capital and other investors, according to PTI report.
Origo group firms Origo Commodities and Origo Finance, will use the fund for securitizing the agricultural markets and streamlining the supply chain mechanism for agri produce in India, a company statement said.
Origo Commodities India (OCI) has raised Rs 15 crore from Northern Arc while Origo Finance raised Rs 20 crore for development of micro-lending avenues and agri supply chain financing.
The funding will help Origo to improve agri processes, warehousing, and accessibility to lakhs of Indian farmers who are in dire need of tech-enabled services in the country.
Origo provides end-to-end agriculture supply-chain solutions such as procurement, storage, and financing. The company has managed 25 million tonnes of commodities and reduced food grain wastage of 3 million tonnes so far.
Commenting on the funding, Sunoor Kaul, co-founder of Origo Commodities, said, “Through the support of Northern Arc and other financial partners, we aim to serve the agri ecosystem by providing solutions that can take care of all commodity needs for procurement, financing and warehousing.”
Since 2010 Origo has created a pan-India footprint of more than 500 warehouses across 15 states, with assets under management worth Rs. 85 billion (USD 1.4 billion) and storage capacity of more than 3.5 million metric tonne for a wide range of commodities.
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