Chennai headquartered Samunnati Financial Intermediation & Services, which provides financial solutions for agricultural sector, has acquired farmer-centric agri supply chain platform Kamatan Farm Tech.
The acquisition is expected help Samunnati’s market linkage outreach initiatives, the company said in a statement. The combined entity will help Farmer Producer Organizations (FPOs), small traders and agri SMEs connect with corporate buyers.
Financial details of the transaction were not disclosed.
“They (Kamatan) have built efficient supply chains for all farm produce, leveraging technology to reduce wastage and inefficiencies, while linking producers and bulk buyers in a seamless, transparent, and value-driven relationship. This has a strong correlation with Samunnati’s work with FPOs on the supply side and agri enterprises on the demand side across 20 states in India. We look forward to bringing the benefits of our joint synergies to FPOs and agri enterprises across the nation,” Anilkumar S G, founder and CEO, Samunnati said.
Delhi based Kamatan was founded by Pravesh Sharma, a former IAS officer and Amol Patil, an IIT Bombay graduate who worked with Stratify, Myntra and Taxi for Sure in the past.
It is a logistics and supply chain company engaged in building inclusive and sustainable agri value chains. It sources farm produce directly from farmers and FPOs and customizes the supply model for each buyer to ensure efficiency of the supply chain. It assists farmers in implementing best practices in producing, harvesting, packaging and transporting produce.
“We are confident that our combined efforts will result in a bigger bouquet of services reaching a larger number of FPOs and agri enterprises and together we will create new milestones of growth in serving the needs of the agri community,” Sharma said.
Kamatan works with 70 FPOs and claims to have supported over 30,000 farmers across 20 cities in procuring, sourcing, storing, quality control and logistics solutions. The company’s clients include agri enterprises, food processors and institutional buyers.
Kamatan is backed by Elevar Equity and Global Innovation Fund (GIF).
Samunnati offers customized financial solutions to stakeholders across the agri value chain. It acts as a bridge, connecting agri businesses on the demand side with FPOs on the supply side, offering market linkage. Headquartered in Chennai, Samunnati has its presence in more than 100 agri value chains including pilots spread over 20 states in India. The startup currently clocks about Rs 220 crore through its market linkage services and loan disbursement per month. It operates 30 offices in 20 states.
Equity investors in the company include Elevar Equity, Nuveen, Accel, and responsAbility. It has raised debt capital from Dutch development finance institutions FMO and Triodos Investment Management, and United States International Development Finance Corporation.