(MENAFN- KNN India) New Delhi, Apr 4 (KNN) ONO, an innovative agri-tech company, has successfully closed its seed funding round, securing a whopping Rs 11 crore in investment.
The funding round was led by Aeravti Ventures, with participation from Indigram Labs.
This significant investment will contribute towards empowering the agricultural supply chain by creating inclusive economic growth opportunities for farmers and ecosystem players across India's vast APMC/MANDI network.
The company aims to leverage cutting-edge technology to augment the country's agriculture tech-stack.
ONO has developed a data-driven digitisation platform to address critical pain points within the agricultural ecosystem, including access to formal credit, price intelligence, market discovery, and operational inefficiencies.
Commenting on the funding, Rama Rao Kancharapu, Founder and CEO of ONO, expressed confidence in the company's ability to scale its platform and build a sustainable business that creates tangible impact.
"We have seen an unprecedented acceptance of our products in Mandis, and we are confident in our ability to scale our platform and build a sustainable business that creates tangible impact," he said.
Rishabh Singh, Managing Partner at Aeravti Ventures, highlighted the firm's focus on India's agriculture ecosystem and their belief in the transformative power of technology to address systemic challenges.
"Doubling down on India's agriculture ecosystem has been a key focus for us. We believe in the transformative power of technology to address systemic challenges," he stated.
ONO currently operates in six states across 45+ APMCs/MANDIs, with over 30,000 partners onboarded and transactions spanning seven commodities, demonstrating the company's rapid growth and adoption within the agricultural sector.
(KNN Bureau)
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