The environmental-focused small- to medium-sized fund Neev II Fund, supported by SBICAP Ventures, made an investment in the agritech company Nutrifresh Farm Tech.
“Our investment in Nutrifresh is a testament to our unwavering mission of spearheading India’s green transition and promoting climate adaptation through efficiently managed agri-supply chains. We believe in the potential of hydroponic farming to revolutionise food production and address key challenges. Through our investment, we aim to pave the way for a sustainable and resilient agricultural sector, driving positive environmental and social impact,” said Akshay Panth, CIO, Neev Funds.
With its goods that are hydroponically grown, residue-free, and chemical-free, Nutrifresh is making an effort to reinvent agriculture. The fund currently works with more than 50 B2B aggregators in addition to trade shops, delivery partners, and other cities. Within the following 12 months, Nutrifresh is expected to expand to a staggering 100+ acres, as per reported by Entrepreneur.com.
“This collaboration will serve as a powerful enabler, propelling our growth and amplifying our reach to diverse customers and markets. The need for sustainable local-for-local food production for fresh, nutrient-rich foods has never been greater after the disruptions in supply chain. The visionary investment will give us the resources needed to secure our expansion as a pioneer in hydroponic agriculture in India by investing in growth, key hires, enhancing our foothold, and technology portfolio and ultimately deliver our solution across the country,” said Sanket Mehta and Ganesh Nikam, founders, Nutrifresh, in a joint statement.
About Neev II
The Neev II Fund, the Neev I Fund’s successor, was established in May 2021 with the goal of assisting small and medium-sized enterprises (SMEs) in the country that offer solutions for projects including renewable energy sources, electric vehicles, efficient raw material use, water use, and circular economies.