Origo Commodities based in Gurugram is offering post-harvest management services for the agricultural commodities and has raised $10.9 Mn funding from the impact investors like Netherlands-based Oikocredit, Triodos Investment Management, and Caspian SME Impact Fund IV.
The Bangalore based financial advisory firm Unitus Capital has also acted as the exclusive financial advisor for the transaction.“Origo’s business model allows it to serve all participants in the agriculture value chain. With our investment, we aim to support Origo in creating a positive impact within this value chain,” Oikocredit equity officer Anirudh Sarda said in a statement.
The company was founded in the year 2010 by Sunoor Kaul and Mayank Dhanuka. The platform provides post-harvest agriculture supply chain financing and logistics solutions. The company manages agriculture commodities of approximately $1.09 Bn (INR 8K Cr) across 12 states.
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The services of the company also include Origo Finance which is a subsidiary of Origo and offers the lending products those include the warehouse receipt finance and the MSME finance.
“We look forward to leveraging our investors’ experience to further Origo’s growth to strengthen our product and our reach to people in need of financing and logistics solutions,” Dhanuka and Kaul said in a statement.
Agriculture plays an important role in Indian economy. More than 58 per cent of the rural house holds depend upon agriculture as their main livelihood. Agriculture, along with fisheries and forestry, is one of the largest contributors to the Gross Domestic Product (GDP).
According to the estimates done by the Central Statistics Office (CSO), the share of agriculture and allied sectors (including agriculture, livestock, forestry and fishery) was 15.35 per cent of the Gross Value Added (GVA) during 2015–16 at 2011–12 prices.
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