ESG First Fund, managed by Aavishkaar (*16*), an Aavishkaar Group firm and arrange in partnership with KfW, a German state-owned improvement financial institution, has introduced its first funding of ₹16 crore ($1.95 million) from the ESG First Fund into INI Farms.
Founded in 2009 by Purnima and Pankaj Khandelwal, INI Farms is an exporter of fruit and vegetable crops with pan-India operations spanning contract farming, aggregation, provide chain administration and serving meals retailers globally.
INI Farms is working along with AgroStar, an agri-tech agency having constructed an agronomy advisory middle, a digital farmer community with over 5 million customers, and a retail community of over 2,000 shops.
Purnima Khandelwal, CEO & Co-founder, INI Farms mentioned “This investment will provide us with a great opportunity to grow multi-fold with expansion into the entire agriculture output business and leveraging our strong supply chain capabilities.”
Abhishek Mittal, Partner- Credit – Aavishkaar (*16*) mentioned, “INI along with Agrostar, is well placed to meet the demands of global markets while empowering farmer at the back-end. We are committed to empowering such businesses with non-dilutive and flexible financial solutions that are better aligned to their growth needs.”
