Samunnati Foundation, a non-profit subsidiary of agritech enterprise Samunnati Finance, has signed a memorandum of understanding (MoU) with IIT Madras' Incubation Cell (IITMIC) to develop innovation in agriculture and help support agritech startups in their goals.

Agri value chain financier Samunnati expects its lending to climate-smart compliant agriculture assets to more than double over the next two years on rising awareness for mitigating climate change.

Samunnati CEO and Founder Anilkumar SG's story is inspiring. From a bank clerk, he went onto set up India's largest Agritech company.

Agri-tech firm offers finance and commerce solutions to farmers’ collective and agricultural enterprises. The loan size ranges from Rs 5,000 to Rs 20 crore at an interest of 13-18 percent.

It requires solutions focussing on grass-roots level interventions and innovations.

This niche technology can be applied to simplify financial procedures, as well as to integrate all the stakeholders in the agri sector.

During the second wave of the pandemic, agrarian communities in rural India had to bear the brunt of stricter and longer lockdown measures. In fact, smallholder farmers lost a significant chunk of their incomes when supply chains were not working at full capacity.

To free Indian farmers from the vulnerabilities of farming risks, and to promote the culture of insurance across rural India and especially among smallholder farmers.

Specialised agri value chain enabling start-up Samunnati on Saturday launched an insurance initiative Annadata Suraksha Abhiyaan (ASA) to cover farmers from daily farming risks.