Aspada invests in fresh fruit firm
Founded by husband-wife duo Pankaj and Purnima Khandelwal, InI Farms provides farm extension services for farmers coupled with post harvest management and processing for both domestic consumption and export markets.
The fresh fruit value chain operator is now looking to augment its sourcing belt by expanding to Maharashtra, Madhya Pradesh and Gujarat, along with increasing its farm extension activities and processing capabilities to work with more farmers to enable market linkages for their products.
InI Farms exports pomegranates and bananas from India and has sales in 19 countries across Europe, the Middle East and Southeast Asia. The company had previously raised venture investment from Ronnie Screwvala-owned Unilazer Ventures and Aavishkaar, along with angel investors like Pavan Vaish and Ashish Gupta.
Bangalore-based Aspada provides long-term, growth capital to entrepreneurs who address large market needs.
This would be the third investment by Aspada in agricultural product and service company after it invested in Lawrencedale Agroprocessing India, a fresh vegetable supply chain company in 2013, and last October backed Delhi-based fresh fruit supply chain company Allfresh Supply Management Pvt Ltd.
Source: vccircle.com
