202007 Oct
Chiratae invests Rs 23.5 Cr in Patna-based agritech startup Ergos
Type
Funding Rounds
Funding
202007 Oct
$3.2MSeries A
Source
Entrackr
Summary

Agritech startups have had a good run in 2020 with half a dozen companies such as Clover, Arya, DeHaat, Kamatan Farm and Bijak raising close to $70 million in total funding. Patna-based Ergos had announced an investment of Rs 35 crore in its Series A round from Avishkar Bharat Fund(ABF) in April. The company had allotted convertible debentures worth Rs 20 crore to ABF earlier this year. Following the allotment of shares, Chiratae holds 17.6% in Ergos while Avishkar Bharat Fund has 26.22% stake in the company. At present, Ergos claims to have close to 30,000 farmers registered on the platform who have sold Rs 125 crore worth produce.

Classifications
  • AgriTech