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2015-03-31

Aspada invests Rs 20 crore in fresh fruit supply chain InI Farms

InI Farms is a leading exporter of pomegranates and banana from India and has sales in 19 countries across Europe, Middle East and South East Asia.

Aspada Investment Company has made a commitment of Rs 20 crore to Mumbai-based InI Farms Pvt Ltd (InI Farms), which operates across fresh fruit value chains in crops such as pomegranate and banana. The company provides farm extension services for small-hold farmers coupled with post harvest management and processing for both domestic consumption and export markets.

"We look forward to working with the Aspada team given their significant experience in investing in India's supply chain and agricultural logistics sectors. Aspada's investment will allow us to continue to build scale in the pomegranate and banana business units while expanding into other fruit categories," said Pankaj Khandelwal, Chairman and Managing Director, InI Farms.

InI Farms is a leading exporter of pomegranates and banana from India and has sales in 19 countries across Europe, Middle East and South East Asia. The company has previously received venture investments from Unilazer Ventures (Ronnie Screwvala) and Aavishkaar along with angel investors like Pavan Vaish and Ashish Gupta.

"Over the next 24 months, we will be expanding our sourcing belts by expanding into adjoining regions of Maharashtra, Madhya Pradesh and Gujarat, while also bolstering farm extension activities and augmenting processing capabilities so as to work with many more small-hold producers to enable market linkages for their produce," said Purnima Khandelwal, Chief Executive Officer, InI Farms.

"We are partnering with an exceptional team that brings significant management experience in India's fruit value chains. We believe that there is a significant opportunity to organize India's fresh fruit supply chains and deliver quality products directly from farm gate to shelf that are traceable, and safe," said Kartik Srivatsa, Managing Partner of Aspada Investment Advisors.

Aspada is a holding company backed with a significant commitment from the Soros Economic Development Fund (SEDF). The firm is an active investor in India, with investments across agricultural supply chains and logistics, financial services, and education and healthcare. Aspada also manages the portfolio of the SONG Fund, an early stage venture capital firm funded by the Soros Economic Development Fund, Omidyar Network, and Google.

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