This agri-tech startup has built a unique Grain Bank model that helps farmers achieve higher incomes.
Founded by TWO young entrepreneurs from Bihar, Kishor Jha and Praveen Kumar, Ergos has been building a unique “Grain Bank” model that enables farmers to digitise their foodgrain stocks data and also provides doorstep access to end-to-end post-harvest supply chain solutions to the farmers by leveraging a technology platform to ensure seamless service delivery. In the last five years, the Grain Bank has consistently helped farmers achieve significantly higher incomes.
Recently, Aavishkaar Capital, the impact investing arm of the Aavishkaar Group, announced an investment of Rs 35 crore ($5 million) in Ergos as part of the latter’s Series A funding round. Aavishkaar Capital had seeded Ergos in 2015 at the ideation stage and has worked with the promoters in scaling this venture. The Series A funding is expected to be a Rs 100-crore round with an Aavishkaar Capital limited partner and a technology venture capital fund also set to join this round.