Intello Labs Raises $5.9 Mn Series A Funding For Expansion
Happy to share our funding news – https://inc42.com/buzz/intello-labs-raises-5-9-mn-series-a-funding-for-expansion/
Glad to share about one of our incubatee @Cultyvate (Farms2Fork) received 50 Lakh through iPitch fund of @Villgro.
Demo day of Adhunik Gram (Smart Village) program Held at India International Centre on 20th Feb 2020 where 8 startups Pitched out of 14 selected startups.
After Boot Camp and Mentoring session for 2 months
they pitched in front of Investors and Jury members.
IndusTill FarmTech Private Limited, Pune won the program by getting cash prize of 1 lac rupees
#urdhvamenvironmentaltechnologies Pvt. Ltd. was the First Runner up got cash prize of 50 thousands
Impagro was the Second Runner Up got cash prize of 30 thousands
Chief Guest Address By Shri Vivek Krishna Sinha, General Manager, NABARD – National Bank for Agriculture and Rural Development, New Delhi
Welcome Note By Dr Manisha Nanda Acharya, CEO – Indigram Labs Foundation – TBI, Supported by DST, GoI
Introduction of Indigram Group by Shri Sunil Khairnar, Chairman Indigram Group
Guest of Eminence Address By Prof. @Moni Madaswamy
Guest of Honour Address By Shri @Ajay Muttreja
Special Guest Address By Shri @Hemendra Mathur
Vote of Thanks By Shri Kamal Khurana
Startups presented their pitches are:
IndusTill FarmTech Private Limited, Pune
ILF has signed MoU with Rockstart on 29th January 2020. Rockstart is an international company that supports and empowers the best startups on their way to success cross four domains: Energy, Health, AgriFood, and Emerging technologies. MoU was signed between Mr. Ashish Khetan (Chief Mentor and Investment Officer, ILF) and Mark Durno (Managing Partner AgriFood, Rockstart).
FarmGuide has been shortlisted by Rabo Bank to attend SustainableAg Asia Challenge Pitch Day in Singapore on October 10 for a chance to win a cash prize from a pool of US$20,000.
After a successful launch of the first cohort of the accelerator program, Surge, Sequoia has selected 20 startups under the second edition. Among them, 13 startups have been picked up from India, whereas rest belongs to Southeast Asia.
While the startups from the first cohort are still growing and raising fresh capital from the Silicon Valley-based venture capital firm, selected startups from the second batch also started receiving capital from Sequoia Capital.
Kicking off the first funding round soon after getting a seat in Surge, Bijak, an agritech platform, has raised $2.5 million (Rs 18.5 crore) from Surge Venture II and Omidyar Network. Surge invested Rs 10.7 crore while the rest came from Omidyar.
It’s worth noting that Omidyar is an existing investor in the company. Better Capital and Nipun Mehra also participated in the round.
According to RoC filing with MCA, the Gurugram-based startup has allotted 2942 seed CCPS at a price of Rs 48,516.79 per share and at an interest rate of 0.001%.
Sequoia, through Surge, had picked up startups from diverse sectors such as consumer internet, edtech, agritech, clean energy, social commerce, fintech, SaaS, robotic, and DTC brands.
Bijak is a B2B platform for agricultural commodities that gives buyers and sellers better prices, improve their working capital cycle and optimised logistics.
Founded in January 2019 and formally launched in May by Nukul Upadhye, Mahesh Jakhotia, Jitender Bedwal, Daya Rai and Nikhil Tripathi, Bijak essentially provides quick time disbursal of loan, reduces cost, eliminate wastage via logistics and convenient payment channel and works as a bookkeeping app.
Already backed by the likes of Omidyar, Omnivore Partners, Bijak app is available in several local languages and caters people in the agricultural-rich states like Maharashtra, Uttar Pradesh, Madhya Pradesh, Punjab, Bihar and Uttarakhand.
Apart from Bijak, Neo banking startup Juno and unified data platform Hevo Data, which were also selected under Surge second edition, had raised seed capital.