Agritech startup Origo raised Rs75 Cr in debt funding from YES Bank
Origo Commodities, a leading commodities and rural finance company, recently raised Rs75 Cr in debt funding from YES Bank. Theh fresh funds will help Origo to deepen its presence in agri supply chain domain and will also help overcome challenges posed by the COVID-19 pandemic, the company stated.
The startup is focused on two elements – supply chain and financing, to ensure that farmers get a fair price and others involved in this ecosystem get access to legitimate capital. With 1,800 employees across 12 states, Origo has been able to support the rural ecosystem through agriculture logistics, agriculture supply chain support, and the much-needed finance through last-mile connectivity.
Sunoor Kaul, Co-founder, Origo Commodities, said, “We are delighted to associate with YES Bank, and acknowledge that our association with them will be beneficial to the agri-community. We hope that the funding will revitalise the sector with liquidity, and make the supply chain more efficient. Through securitisation and tech-based solutions, the ambition is to make all stakeholders benefit, while helping realise the true growth potential of our nation.”