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Bengaluru-based agritech company Ergos has raised $10 million through a combination of equity and debt as part of its Series B round led by Abler Nordic, a Norway-based financial inclusion fund, and existing investors Aavishkaar Capital, Chiratae Ventures, and Trifecta Venture Debt Fund.
The company offers a buyer’s platform linking farmers to markets, safe grain storage in warehouses, and access to affordable finance through partner lenders.
Also Read | ERGOS’ lending platform facilitates ₹100 crore loan disbursals to small farmers
Additionally, it digitises grain storage, empowering farmers to convert their grains into tradable digital assets and earn more by selling produce at optimal times post-harvest. According to the company, the farmers can then access credit for up to 70 per cent of their stored and digitised grain through an end-to-end digital process with affordable interest rates from banking partners.
“Our grainbank platform enables farmers to make optimal decisions on sales and storage of their produce, access credit from banks, get access to competitive prices through planned liquidations, and access a wide spectrum of buyers. We are excited by the immense opportunity ahead of us, and we intend to further deepen our presence amongst the farming community,’ said Kishor Jha, Founder and CEO at Ergos.
It currently supports over 160,000 farmers on its platform and has a physical network of farm-gate-based warehouses branded as Grainbank in over 200 locations across the states of Bihar, Karnataka, and Maharashtra. Over the past decade, it claims to have helped farmers increase their income by 30–35 per cent in a year.
“The investment in Ergos aligns with our vision of contributing to a more inclusive, just, and environmentally sustainable society, and we are excited to partner with them on their journey to scale and expand their solutions for the benefit of farmers across the different agri-belts in India,” said Arthur Sletteberg, Managing Director of Abler Nordic.
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