New Leaf Dynamic Technologies, a cold chain solutions company, has raised ₹6.15 crore in equity funding in its pre-Series A round.
The investment was made by US-based Good Ventures LLC, a for-profit investment organisation. It also raised seed funding and incubation support from Social Alpha and Indigram Labs Foundation.
“We will be utilising the new capital to strengthen India’s cold chain infrastructure and reduce the post-harvest losses by replacing conventional compressor technologies with biomass-powered Made-in-India refrigeration technology. This is affordable, sustainable, and reliable,” said Akash Agarwal, Co-Founder, New Leaf Dynamic Technologies.
The company aims to increase and strengthen its product portfolio. Additionally, it intends to make the existing product offering—a biomass-powered refrigeration unit—available to a greater number of channel partners working towards fortifying India’s rural cold chain.
Finance to end-users
New Leaf provides access to finance to end-users: farmers and farmer-producer companies by providing loan guarantees through various banks and financial partner institutions. This reduces sales cycle time and ownership costs for the end-users.
New Leaf Technologies will be engaged in hand-holding support at the ground level with the farmers to help them build storage infrastructure at or near the farm gates or aggregation points, said the release. In the next three years, they aim to impact the livelihoods and incomes of more than two lakh small and marginal farmers. According to the company, it currently supports 15,000 farmers.