Innoterra Join Hands with Haryana Gov to Onboard 100k Farmers on its Platform

So far, Innoterra has raised over $125 million of investments cumulatively and has registered annual revenue of $66 million in FY21. The company is on track to achieve $100 million in FY22.
Innoterra Join Hands with Haryana Gov to Onboard 100k Farmers on its Platform

Taking another step to further strengthen its presence in the Indian agri-tech sector, Innoterra, a Swiss-Indian food, and tech platform company, today signed a Memorandum of Understanding.

The MoU was signed with Small Farmers Agribusiness Consortium of the Department of Horticulture (DoH), Government of Haryana, and Kharisurenan Farmer Produce Company Ltd. (KFPCL) to connect over 100,000 farmers in the state to its full-stack platform services including product grading, processing, branding and providing access to markets.

The MoU agreements were signed in the presence of Manohar Lal Khattar, the Chief Minister of Haryana in Chandigarh, between Dr. Ranbir Singh, Haryana's Additional Director of Horticulture, and Nitin Puri, Innoterra's Head of B2B Marketplace. In the same ceremony, Nitin Puri also inked an agreement with Manoj Sihag, Director of KFPCL, one of the largest Farmer-Producer Organizations (FPOs) in the region.

The MoUs will provide farmers and farmer-producer organizations (FPOs) from the region access to Innoterra’s micro-enterprise network and will facilitate market access for region-specific products such as Kinnow, a high-yield mandarin fruit hybrid widely grown in Punjab and Haryana. 

Innoterra, erstwhile Pioneering Ventures, has recently brought together its incubated companies, including India’s leading fruit producer-exporter Desai AgriFoodsunder its corporate umbrella. The company has already connected more than 80,000 farmers to its hi-tech and high-touch Platform Division. Innoterra platform provides 360-degree services encompassing farm inputs, data-driven advisory, traceability, and market access to smallholder farmers in India. So far, Innoterra has raised over $125 million of investments cumulatively and has registered annual revenue of $66 million in FY21. The company is on track to achieve $100 million in FY22. 

Dr. Ranbir Singh said, “With this crucial collaboration, we aim to help farmers in Haryana transcend from agriculture to agribusiness and take giant strides towards integrating technology, distribution, and branding expertise of the company through FPOs. Going forward, Innoterra platform will enable our farmers to reap the real benefits of their hard work through access to right advice, technology, and services, which will eventually pave the path towards the long-term goal of better farm incomes.”

Nitin Puri said, “The farmer collectives are the bedrock of Indian agriculture. This partnership with Haryana Government aligns with our strategic goal of enabling strong growth for the small and mid-holder farmers in India, providing market access and skill development, adding value to their products and thereby, doubling their net income.”

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