agriculture | Pixr8 News

M&M Acquire More Stake in MITRA Agro For $1 Million

12Mar By AnkitaNo Comments

ACQUISITION

M&M Acquire More Stake in MITRA Agro For $1 Million

M&M has signed a share purchase agreement to buy additional 34,249 equity shares of MITRA Agro Equipments Pvt Ltd, an associate of the company, from its existing shareholders. The company currently holds 26 percent of the equity share capital of Mitra, and after the completion of the above transaction, it will hold around 39 percent of the equity share capital of Mitra on a fully diluted basis, Mahindra & Mahindra said in a filing to the BSE. The purchase of additional equity shares in MITRA Agro Equipments Pvt Ltd would support the company's farm equipment business in the horticulture sector, it added. After the acquisition of equity shares, Mitra would continue to remain an associate of the company, Mahindra & Mahindra said. The purchase at which these shares are...

Bijak Raises $2.5 Mn from Omnivore, Omidyar Network, Others

18Dec By PriyankaNo Comments

FUNDING

Bijak Raises $2.5 Mn from Omnivore, Omidyar Network, Others

Agritech start-up Bijak has raised over USD 2.5 million (about Rs 18 crore) from various investors, including Omnivore and Omidyar Network India, for expansion of its business. Sequoia Capital India’s rapid scale-up programme, Surge and Better Capital have also invested. Gurugram-based Bijak, which was launched in May 2019 by Nukul Upadhye, Mahesh Jakhotia, Jitender Bedwal, Daya Rai and Nikhil Tripathi, would utilise the fund on new technology and hiring fresh talent, among others. Bijak is a platform that gives agricultural commodity buyers and sellers better prices, increased working capital, and optimised logistics. It brings accountability and transparency into the agricultural value chain through a buyer/seller rating system, and enables traders, wholesalers, and food proces...

24Mar By Sheldan RungasamyNo Comments

INDIA

Raghuram Rajan Believes India Should Focus on Industry & Services

Raghuram Rajam, Former Governor of Reserve Bank of India stated on Friday that the country should encourage its workforce to step out of the agricultural sector to move into the industry and services as the latter will provide the population with higher income. "We have to try and give people the ability to move out of agriculture into industry and services, where income is much higher. We need to figure out ways to do this," Rajan said here. He added that the populace should not be afraid of machines replacing humans because society has always found ways of adapting to industrialization and mechanization which worked well in the past. "Two hundred years since the industrial revolution, jobs are still around. People and society adapt to do the things that machines cannot do," he s...

8Nov By PriyankaNo Comments

FUNDING

Agri-Logistics Startup FarmLink Raisses $3M Funding

[dropcap]M[/dropcap]umbai based agri-tech platform FarmLink Agri Distribution and Market Linkage Pvt Ltd has recently raised a sum of $3 million from the Indian arms of Pioneering Ventures, Swiss incubator/investment firm and agrochemicals company Syngenta AG. Incubated at Pioneering Ventures itself, the startup provides end-to-end logistics solutions for the supply of fruits and vegetables. The fresh funds will be used to expand its reach and penetration and strengthen its technology and analytics capabilities in the supply chain segment. “FarmLink’s focus is to develop India’s underserved regions. It is associated with more than 700 farmers to improve the quality and quantity of their produce. The company intends to reduce agricultural waste by streamlining the value chain to less th...

4Nov By Press Trust of IndiaNo Comments

INDIA

Govt Woos Investors To Tap India’s Agri Sector

Agriculture Minister Radha Mohan Singh today called upon investors to leverage opportunities in the country's farm, dairy, poultry and fisheries sectors. The government is implementing various schemes to promote these sectors in order to double farmer's income by 2022, he said at the World Food India 2017 event here. "...the world is eager to study and adapt our growth strategy," he was quoted as saying in an official statement. He added that India has moved ahead from a country facing food shortages to becoming a food exporter. Addressed a conference on Fruits & Vegetables, Dairy, Poultry & Fisheries - Leveraging the Diverse India Opportunity at #WorldFoodIndia pic.twitter.com/DycJD2Jbpl — Radha Mohan Singh (@RadhamohanBJP) November 4, 2017 He said there are inve...