Friday, April 12, 2024
Outlook India
Outlook Business

Prateek Toshniwal Announces Fund To Support Agriculture-Based Start-Ups

Prior to this, Toshniwal invested in multiple start-ups including ReshaMandi, Agrimarg, Indeanta, Neo Fantasy and Zappfresh

Prateek Toshniwal Announces Fund To Support Agriculture-Based Start-Ups
Prateek Toshniwal, entrepreneur and angel investor
POSTED ON November 24, 2022 6:30 PM

In an attempt to boost India’s start-up ecosystem, entreprenuer and angel investor Prateek Toshniwal has announced $500000 fund. Start-ups working in sectors including agriculture, clean tech and Web 3.0 can apply for the fund. 

“Agriculture is one the primary sources of income for the government in our country. India is an agricultural-centric country with over 70 per cent of its substantial revenue generated from cultivated lands. With numerous start-ups and enterprises venturing into the agricultural landscape, it is the best time to invest in the sector to mark and celebrate the agricultural profession in India. Also, the IT sector has been on a persistent rise in India for the last 2 decades. The world wide web revolution has morphed IT services universally with Web 3.0 being the latest stage of web evolution. The financial investments in clean tech will ensure the steady progress of the industry in the times to come,’ Toshniwal, said. 

Prior to this, he has invested in multiple companies including ReshaMandi, Agrimarg, Indeanta and Zappfresh. He has also collaborated with multiple founders in India. 

Agri-tech start-ups in India are getting impetus from investors having raised $296 million across 27 private equity and venture capital deals in the first half of this financial year. This is almost double the $157 million through 23 deals during the same period in FY22, according to Venture Intelligence.

Recently, cricketer Ajinkya Rahane announced Rs 1 crore seed fund for agri-tech start-ups. While talking about this investment, he said, “I have made some investments prior to this fund. However, I was looking for an institutionalised and structured form of funding for agri-tech start-ups. Even though the funding will be in form of equity, I am not looking at monetary returns but want more in terms of a higher direct monetary positive impact on farmers.”

  • Related Articles

    Having raised $1.3 million in a seed funding round recently, Bengaluru-based Up⤴️ hopes to reach a $30 million annual run rate on its smart kitchen appliance

    Armed with fresh capital, Up to integrate quick commerce to its smart kitchen appliance

    Agarwal will exit the company on November 25. He will also stop working as the key managerial personnel (KMP) from the same date

    Arvind Agarwal Quits Nykaa After Two Years In The Company

    Users took the issue to Twitter and demanded compensation for the losses they faced

    Zerodha Users Face Trouble While Trading Online