Abler Nordic, a public-private partnership whose investors include the Danish and Norwegian governments, recently led the Series B fundraising round of Indian agricultural technology (agtech) company Ergos, which offers crop storage and a digital platform linking farmers to markets. The funding round comprised USD 7 million in equity and USD 3 million in debt, with additional participation from three previous investors in Ergos, each of which is based in India: Aavishkaar Capital’s Aavishkaar Bharat Fund, Chiratae Ventures and Trifecta Capital’s Trifecta Venture Debt Fund. Ergos CEO Kishor Jha stated, “We are building India’s first mobile GrainBank solution serving small and marginal farmers, local buyers, food processors and banks. Established in 2008, Abler Nordic has USD 345 million deployed in Africa and Asia via five microfinance funds as of 2023. By Pranav Agarwal, Research AssociateSources and Additional ResourcesAbler Nordic press release on Ergos funding roundhttps://www.ablernordic.com/news/abler-nordic-invests-in-ergos/The Economic Times article on Ergos funding roundhttps://economictimes.indiatimes.com/tech/funding/agritech-startup-ergos-secures-10-million-in-funding-led-by-norways-abler-nordic/articleshow/103857970.cmsErgos homepagehttps://ergos.in/Abler Nordic homepagehttps://www.ablernordic.com/Aavishkaar Capital homepagehttps://aavishkaarcapital.in/Chiratae Ventures homepagehttps://www.chiratae.com/Trifecta Capital homepagehttps://trifectacapital.in/Ergos app on Google Playhttps://play.google.com/store/apps/details?id=com.GrainbankBuyer.appPrevious MicroCapital article on Abler Nordichttps://www.microcapital.org/microcapital-brief-abler-nordic-sells-equity-stake-in-satin-creditcare-provider-of-microfinance-to-low-income-women-in-india/Did you know that MicroCapital publishes the MicroCapital Monitor newspaper each month?

Source: Economic Times October 12, 2023 12:05 UTC