Samunnati onboards first Farmer Producer Organisation (FPO) on TReDS, completes transaction worth Rs 3.5 crore

Agriculture has been pivotal to India since the dawn of its civilization. With one of the largest arable lands complemented by favorable climatic conditions, it enables the subcontinent to produce a variety of crops.

Tamil Nadu-based Samunnati has recently launched the Annadata Suraksha Abhiyaan, a dedicated crowd-sourcing campaign driven via Samunnati’s corporate social responsibility outreach.

In 2020 in the midst of the Covid pandemic and the lockdowns that followed, Vizhudugal Farmers Producer Company (FPC), in Thoothukudi district of Tamil Nadu, with over 1500 farmers in its fold, was desperately seeking to sell its agricultural produce—coriander, chilli, pulses, maize, onions and oil seeds.

We have started actually setting up weather stations for some of these FPOs to collect weather data in terms of precipitation, wind speed, rainfall, sunlight, so that at some point, we will be able to structure insurance products for the members of the FPOs," Anil Kumar SG, Founder and CEO of Samunnati told ET.

Samunnati, an agri-value chain enabler and India’s largest agri-tech enterprise, on Monday announced hitting the Rs 10,000 crore gross transactional value (GTV) mark across its agri-commerce and agri-finance business.

Agri value chain financier Samunnati has entered into a co-lending agreement with IndusInd Bank to expand credit accessibility and market linkages for farmers producer organisations (FPOs) across the country.

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.