Agri Business

Pioneering Ventures to set up a new corporate entity ‘Innoterra’

Our Bureau Mumbai | Updated on February 04, 2021

To provide intelligent data and applications on mobile devices, helping farmers become more productive and efficient.

Mumbai-headquartered Pioneering Ventures, an agriculture, food and technology incubator-cum-investment firm, has set up a new corporate entity ‘Innoterra’ and brought all its five subsidiaries under the new brand.

Desai AgriFoods (formerly known as Desai Fruits and Vegetables), Samaaru, Farmlink, Milklane and Lateral Praxis are the companies that are being bought under the new entity.

The new company - Innoterra - with a footprint across 14 countries, will provide a host of digital services - such as soil analytics and weather forecasting - to 50,000 farmers and will procure food products from over 15,000 farmer families. The company will serve around 1.5 million consumers daily, it said in a statement.

The new company is also building a data-driven platform to improve the production and distribution of healthy food.

“While developing and rolling out our platform, we will continue to scale up our food operations in India and further expand our sourcing and distribution footprint in regions such as the Middle East, Eastern Europe, and in China. We are also systematically working on the realisation of the identified business synergies and the acceleration of profitable growth,” Akshaya Kamath, Chairman of Innoterra India, said.

“Our efforts enable us to sustainably supply high-quality, traceable products around the year to the addressable adjacent markets with a population of close to three billion people,” he added.

Innoterra will provide intelligent data and applications on mobile devices, helping farmers and other stakeholders become more productive and efficient, it added.

Published on February 04, 2021

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