Origo expects this debt support to help deepen its presence in agri supply chain domain and also help overcome challenges posed by Covid-19 pandemic.
The startup also hopes the initiative to drive tech-enabled solutions through agri commodities firms to address the agri sector’s liquidity concerns.
Origo, which is working with institutional investors in 12 Indian states to securitise agri-commodities, improve warehousing and run efficient supply chains, intends to use the funds for improving the services and structures within the agricultural ecosystem.
The agritech player also hopes to unlock agri-commodity investments for retail investors in the coming months, which could then bring transparency and establish efficient SOPs within the ecosystem.
Hoping that the association with Yes Bank will be beneficial to the agri community, Origo Commodities co-founder Sunoor Kaul said, “We hope that the funding will revitalize the sector with liquidity and make the supply chain more efficient.”
Nikhil Sahni, Yes Bank’s national head-government banking, said the bank remains steadfast in its endeavour to support the agri sector through financing, advisory and technology support. ” Agri supply chain has always demanded more formal financing to make it efficient and robust. We believe this partnership with Origo Commodities, will pave the way for enhanced liquidity in the sector and support the entire ecosystem – right from the smallholder farmer, all the way to the processing units.”