Agritech Start-Up ONO Secures Rs 11 Crores In Seed Round For Expansion
ONO Ark India Pvt Ltd, an agricultural technology start-up, has successfully secured Rs 11 crore in its seed funding round, as announced by the company. Aeravti Ventures led the investment round with Indigram Labs also participating in the round. The agritech company is based in Bengaluru, Karnataka.
ONO has disclosed that the raised capital through the seed round will be utilized to bolster the agricultural supply chain in the country, fostering transparency, trust, and inclusive economic growth opportunities for farmers and stakeholders within India’s APMC/MANDI network.
ONO specializes in providing data-driven technology solutions to the agricultural sector. Utilizing insights garnered from extensive field research, the company has developed a data-centric digitization platform aimed at tackling critical challenges within the agricultural ecosystem, such as access to formal credit, price intelligence, market discovery, and operational inefficiencies.
Rama Rao Kancharapu, the founder and CEO of ONO, expressed confidence in their ability to scale the platform and establish a sustainable business that delivers tangible impact, citing the remarkable acceptance of their products in Mandis. He highlighted the significance of having long-term partners like Aeravti Ventures and other industry leaders to expand horizons and accelerate growth.
Rishabh Singh, managing partner at Aeravti Ventures, stated, “Doubling down on India’s agriculture ecosystem has been a key focus for us. We believe in the transformative power of technology to address systemic challenges, and ONO is well-positioned to disrupt the Mandi Ecosystem of India.” Singh also lauded ONO’s position to disrupt India’s Mandi Ecosystem.
Currently operational in six states across 45-plus APMCs/MANDIs, ONO boasts over 30,000 partners on-boarded and transactions spanning seven commodities.
