Horticulture Platform Sahyadri Farms Raises $46 mn In Funding

Farmer-led horticulture platform Sahyadri Farms has raised ₹390 crore (around $46 million) in its series B funding round. 

The round was led by Europe-based private equity fund responsAbility and US-based GEF Capital Partners, with participation from existing investors FMO, Proparco, Incofin, and Korys. Ambit Capital advised on the deal, the company said in a press release.

The company will use the funds to grow climate-resilient table grapes and citrus crops. It will also upgrade its facilities for packing and processing fruits, vegetables, juice concentrates, dry fruits, freeze-dried foods, aseptic food processing, and IQF (individually quick freezing).

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Vilas Shinde, Chairman and managing director at Sahyadri Farms, said, “We welcome our new investors, responsAbility and GEF, on this journey to transform Indian agriculture. We are excited to work towards IPO in the coming years and become first farmer-owned organization to be listed in India." 

He also hinted at the possibility of an initial public offering (IPO) in the future.

In 2022, Sahyadri Farms raised Rs 310 crore in its Series A funding round led by European development financial institutions such as Proparco, FMO and Incofin, and Korys, the family office of the Belgium-based Colruyt Group.      

About Sahayadri Farms

Sahyadri Farms, based in Nashik and founded in 2011, works with a network of over 26,000 small and marginal farmers, managing 41,000 acres of farmland. The company procures, processes, and markets fruits and vegetables. Over time, it has expanded to other crops and now operates across the entire food value chain, from seeds to plates, including farming, food processing, distribution, retail, and exports.

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