Nashik-based Sahyadri Farms Post Harvest Care Ltd, a little-known farmer-led agri-processing company, has raised Rs3.1 bln (€40 mln) from a consortium of impact investors Incofin, Proparco, FMO and Korys. The consortium leader Incofin IM is an alternative investment fund manager (AIFM) licensed fund manager. FMO is a Dutch entrepreneurial development bank. Proparco is the private sector financing arm of Agence Française de Développement Group (AFD Group). Korys is the investment company of Colruyt family, one of the top in Belgium. The Sahyadri group is the largest exporter of grapes to Europe since 2015.
Sahyadri Farms claims to service over 18,000 farmers, covering more than 12,000 ha and 9 crops. The investment was made by impact-focused investors in the sector of sustainable growth, financial inclusion and agri-food value chain in developing and emerging markets.
The investment will be utilised for expanding processing capacity for fruits and vegetables-based products, set up a biomass plant to generate electricity and build packhouses.
Farmer, founder and chairman and managing director (CMD) of Sahyadri Farms, Vilas Shinde: “The idea of Sahyadri Farms is to unite farmers and make them think like professional entrepreneurs. We are building a sustainable, scalable, and profitable organisation for all our stakeholders by making farming profitable and viable activity for each small and marginal farmer.”
Source: moneylife.in