Mahindra to invest in agricultural startups
"There are 3-4 companies that we are in talks with at various levels of maturity when it comes to possible investments. In 2017, we should be able to close some investments," Ashok Sharma, president of the Agri-Business at Mahindra, told ET.
The company also wants to co-invest and even collaborate with venture capital funds to attract big money in the agrarian space.
"We would be open to investing along with venture capital funds if a higher ticket size is required. As a company grows and looks for the next round of funding (Series A onwards), we could evaluate if we should get another fund on board," Sharma told ET.
In 2016, Mahindra also invested $1 million in MeraKisan, which farmers used to sell fresh produce directly to customers, eliminating the middle man. The upcoming investments, too, are likely to be in the range of $1-5 million.
source: businessinsider.in
