In a seed round led by Caspian Leap for Agriculture Fund, Piper Serica Angel Fund, YAN Angel Fund, Impact Innovators, and Entrepreneurs Foundation, among others, agri-fintech company KiVi (Kisan Vikas) secured Rs 15 crore.
The agri-fintech company, which is based in Chennai, is currently active in four districts in Tamil Nadu and Bihar, and it plans to grow in the southern states over the following five years.
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“The investment will help KiVi to build a robust technology platform for scale-up, increase the last-mile presence across many districts, strengthen the product and risk capabilities, and obtain an NBFC license,” Joby CO, founder and CEO of KiVi, said.
The distinctive digital platform and KiViStar (Local Franchisee) network are the company’s two main value propositions. To access the services provided by KiVi, the last-mile farmer will establish a connection with the KiViStar network.
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“In the next five years, we plan to expand to five states such as Andhra Pradesh, Telangana, and Karnataka, with a focus on South India,” Manoj Ramaswamy, cofounder, and CFO at KiVi told ET in an interaction.
In the areas of agriculture and finance, KiVi uses the widespread use of smartphones, improved data connectivity, increasing rural digital adoption, and the India Stack to deliver goods and services directly to farmers using a contactless, paperless, and cashless delivery model.
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On the technology front, KiVi said while satellite image technologies are emerging, the company was focusing on cadastral mapping “which will lead us to lead the ownership”, Salil Nair, cofounder and CTO, at KiVi said.
About KiVi
An agri-tech start-up called KiVi (operating through Agrosperity Tech Solutions Pvt Ltd) seeks to make farming the livelihood of choice for millions of Indians. Their main products are a special digital platform called KiVi, which stands for Kisan Vikas (farmer development), and a franchisee network that provides last-mile transactional capability. They want the farmer’s income to increase by 10 times.
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