Ergos founder and CEO Kishor Jha said the company is building Ergos Grainbank to serve small and marginal farmers by leveraging technology and data science to disrupt the way farmers deal with their produce.
"We are extremely excited to have Chiratae on board; and along with the continued support from Aavishkaar Capital, we intend to rapidly scale our geographic footprint and remain focussed to service farmers directly at farmgate at over 2,000 Grainbank locations over the next few years," Jha said.
Founded by Jha and Praveen Kumar from Bihar, Ergos has been working on a farm-gate based Grainbank model that they have piloted in multiple districts of Bihar.
The model enables farmers to digitise their food grains and also provides them with doorstep access to end-to-end post harvest supply chain solutions by leveraging a technology platform to ensure seamless service delivery.
The Ergos tech platform operates like a bank and offers storage, digitisation, credit and liquidation facility to farmers through the single platform.
"Ergos is bridging the large gap between the selling price of produce and the realisation of farmers at the farm-gate by using technology to facilitate credit and market linkages to the grains stored with it," Chiratae Ventures founder and managing director TCM Sundaram said.
"This opportunity is massive and Ergos is expected to capitalise on its early lead to become a market leader," Sundaram added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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