Indian agri-tech firm, Ecozen Solutions Pvt. Ltd. has received an undisclosed amount of funding in Series A round, which was led by Hivos-Triodos Fund and Caspian, according to a media report.
Early-stage agri-tech focused investment fund Omnivore Capital Management Advisors Pvt. Ltd, which had invested in Ecozen in 2015, also participated in the round, Ecozen said in its statement, as reported by the daily news, VC Circle.
Ecozen essentially creates products which are targeted at farmers in order to help them grow yields, retain theirs produces and later, sell them at a high price.
We plan to be back in the market soon, to raise our next round, as both our irrigation and cold chain businesses are scaling rapidly, Co-founder and CEO of Ecozen Solutions, Devendra Gupta told the daily news. \
The firm bet on Ecozen because of the startups focus on promoting sustainable agriculture and storage through using solar energy-based products that were reliable as well as affordable, Director at Caspian Investment, Ravi Narasimhan told the daily news.
The impact investor was looking forward to partnering with the startup to create a positive impact down the value chain. Fund Manager at Hivos-Triodos, Karel Nierop told the daily news.
Ecozen Solutions was established by co-founders, Prateek Singhal, Devendra Gupta and Vivek Pandey, who are alumni of IIT-Kharagpur.