In a significant development for the agri-tech sector, KiVi, an innovative agri-focused fintech startup, has successfully raised Rs 15 crore in a seed funding round. The funding was led by Caspian Leap for Agriculture Fund, with participation from Piper Serica Angel Fund, YAN Angel Fund, Impact Innovators, and Entrepreneurs Foundation, among other prominent investors. This substantial injection of capital is poised to revolutionize the way farmers access financial services, strengthening KiVi’s mission to empower farmers as entrepreneurs.
Incubated at IIT Madras Research Park
Joby C O founded KiVi, an agri-fintech startup with a unique vision. It was incubated at the prestigious IIT Madras Research Park, providing the environment and resources to thrive and innovate. KiVi’s mission is to transform agriculture into a sustainable business enterprise by making essential services accessible to farmers, often the backbone of a nation’s economy.
A Holistic Approach to Agri-Tech
KiVi is more than just another player in the agri-tech space. It offers a comprehensive technology platform that empowers farmers in multiple ways. This platform enables farmers to access a wide array of services, including agronomy guidance, input supply, buyer aggregation, financial services, logistics support, quality management, risk mitigation, and warehousing facilities.
This holistic approach to agri-tech intents to streamline farming operations, reduce risk, and enhance farmers’ overall livelihood while contributing to the agricultural sector’s growth.
Expanding Across Districts
One of KiVi’s key objectives is to expand its reach across various districts, particularly in regions with a significant agricultural presence. The recent funding round will help the startup increase its last-mile presence, crucial for reaching farmers in remote areas who often lack access to essential resources and services.
Obtaining an NBFC License
KiVi is working towards obtaining a Non-Banking Financial Company (NBFC) license to further its mission and better serve farmers. This significant step will allow KiVi to provide farmers a broader range of financial products and services, empowering them with the tools they need to grow their agricultural enterprises.
Tangible Impact on Farmers
KiVi has already made substantial progress in Tamil Nadu and Bihar, positively impacting the lives of over 1,500 farmers. Through its platform, the startup has facilitated access to credit for farmers, introduced MSME loan offerings for agri-entrepreneurs, and enabled efficient commerce and trade finance in commodities such as wheat, paddy, and maize.
Moreover, KiVi has recently unveiled a new feature on its platform: farm loans. This innovation enables smallholder farmers to access timely, affordable, structured credit from lending institutions. This is a game-changer for farmers who often struggle to secure financing for their agricultural activities.
In conclusion, KiVi’s successful seed funding round is a significant milestone in agri-tech and fintech. The startup’s innovative approach to making farming a sustainable business, its dedication to empowering farmers, and its vision for expanding across districts and obtaining an NBFC license are all steps in the right direction. As KiVi continues to grow and evolve, it has the potential to revolutionize how farmers access financial services and conduct their agricultural operations, ultimately contributing to the prosperity of the farming sector.
