Agritech startup Unnati on Wednesday said it has raised Rs 60 crore in Series A funding from Incofin Investment Management, NabVentures and Orios.
The fresh capital will be utilised for augmenting tech infrastructure for farmers and increasing the uStore network, the company said in a statement.
Unnati CEO and Co-founder Ashok Prasad said, “We have raised our Series A round of funding and are thrilled to have marquee investors backing us in our journey."
NABVENTURES Fund-I, the flagship fund of NABVENTURES Ltd. backed by NABARD, has followed up on its initial investment in the company, by also participating in this round of fund-raise.
Meanwhile, Millet-based snacking company Troo Good has raised Rs 55 crore in a funding round led by OAKS Asset Management.
The Hyderabad-headquartered company will use the funds raised in the Series A funding round to expand their business from Andhra Pradesh and Telangana into several other states across India, as well as achieve their mission of serving nutritious and affordable snacks to 1 crore children every day, a company statement said.
Raju Bhupathi, the founder of Troo Good, said the company has come a long way in creating a robust pipeline of products and corresponding expertise and is now looking to scale rapidly. “We are delighted to have OAKS on board and backing us for this next exciting phase of the Troo Good journey,” he said.
“We expect to have a significant ramp-up in the millet-based snacking segment over the next decade and Troo Good is ideally positioned to be at the forefront of this wave,” he added.
Similarly, the Video-on-demand platform The Viral Fever (TVF) on Wednesday said it has raised about Rs 14.8 crore debt from Mumbai-based venture debt firm BlackSoil.
The company will be using the funds for its working capital requirements on the production of web series and other content for its clients that include both brands and OTT platforms, a statement said.
BlackSoil had earlier provided venture debt to TVF in 2019, and they are renewing their partnership in 2021, it added.
Founded in 2010, TVF produces branded content for its own channels and OTT giants like Netflix, Amazon Prime, Sony, etc.
The company is focussed on solving the lack of new generation content for India's young teenage audience. It has produced hits like TVF Pitchers, Permanent Roommates, Yeh Meri Family, and the more recent Aspirants and Kota Factory amongst others.
(With PTI Inputs)
