Mumbai based agri-business start-up Krishi Star has raised an undisclosed amount in seed funding from Artha Venture Challenge, Menterra Social Impact Fund and Upaya Social Ventures.
Mumbai - August 26, 2016. RedNewswire/-
The company was founded by Bryan Lee in 2014 in Mumbai. It identifies market needs and provides the capital and operational expertise necessary to launch small scale processing units to meet the produce processing needs of farmers.
Over time, farmers become full owners of these processing units, thus owning a much higher margin and more stable part of the value chain than crop production alone.
Krishi Star markets their products under a brand that represents the farmers. They are currently running this impact model with tomato farmers in Maharashtra and selling their processed tomato products into restaurants in Mumbai.
"By aggregating existing farmer assets and providing a brand, we can greatly increase the efficiency and quality of India's food supply chain and bring a large portion of this created value to farmers," said Bryan Lee, co-founder of Krishi Star.
"Krishi team has brought to the market some interesting products and there are more in their pipeline. These will help the company grow faster and will help many more farmers to earn a greater percentage of the end price of their produce," said Sreejith Nedumpully, director, Upaya Social Ventures India.
At present, Krishi Star works with about 5,000 tomato growers in Maharashtra and Gujarat and farmer-owned food processing units.