Agri-tech start-up, ONO has raised Rs 11 crore in its seed funding round, the company said in a release. The round was led by Aeravti Ventures, with participation from Indigram Labs.
The company added in a statement that investment will be used in strengthen agricultural supply-chain by promoting transparency, trust, and inclusive economic growth opportunities for farmers and ecosystem players across India's APMC/MANDI network.
ONO provides data-driven technology solutions to the agricultural industry. Leveraging insights gained from extensive field research, the company has developed a data-first digitisation platform to address critical pain points within the agricultural ecosystem, including access to formal credit, price intelligence, market discovery, and operational inefficiencies.
Commenting on the funding, Rama Rao Kancharapu, founder and CEO of ONO, said, "We have seen an unprecedented acceptance of our products in Mandis and we are confident in our ability to scale our platform and build a sustainable business that creates tangible impact. Having long-term partners, such as Aeravti Ventures and other industry leaders, on board allow us to broaden our horizons and catalyze our 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."
The company is operational in 6 states across 45 plus APMCs/MANDIs, with over 30,000 partners onboarded and transactions spanning seven commodities.
