Ergos Team

Bangalore-based main digital aggregator in Agritech area, Ergos, goals to additional develop the footprint to 650 areas with income progress of upto Rs. 1,800-2,000 crores by 2023-24. After an enormous success in Bihar, the corporate goals to strengthen its presence in Karnataka, Uttar Pradesh and Maharashtra and enter a number of new agriculturally wealthy states within the nation.

Ergos GrainFinancial institution banks on grain digitization, cutting-edge ‘mobile-first’ expertise by an in-house full-stack tech staff headed by CTO Umesh Gowda, stated, “Grain digitalization is building a very scalable mobile-first technical platform where we intervene the entire farmer life cycle using technology, we would like to monitor crop through satellite image, soil-based crop, and input advisory, and produce-market connect at real-time through Smart-Price-Engine”.

It permits farmers to transform their grains into tradable digital belongings, avail credit score like an overdraft facility towards these belongings by companion Banks and NBFCs in a couple of minutes, and get higher costs for his or her produce with a scope to optimize their revenue by 30-40% in a single season simply.

Commenting on The GrainFinancial institution platform, Kishor Jha, Founder & CEO, of Ergos GrainFinancial institution, stated, “Ergos has proven its business model in Bihar and recently entered the other key markets. With the response from the farming community and food processors, we aim to grow 3X growth in the next 1-2 years time with a targeted revenue of INR 1800-2000-Cr.”

Business Head Ashutosh Sinha stated, “Grains are farmers’ reservoir of wealth but access to liquid cash flow has been a challenge for small and marginal farmers in India. With technology being the key enabler, farmers can use Ergos’ GrainBank mobile app platform as a live ATM to convert their grains into money transferred to their account anytime, within seconds”.

The platform empowers them by giving them the ability to barter; handle their working capital, and money move for different family necessities and provides them a window to save cash and optimize their revenue.

Kishor additional added that “High adoption of Ergos’ GrainBank app among farmers in Bihar boosted our confidence to replicate the model in UP, Karnataka and Maharashtra within six months of the launch with 50% occupancy through farmer adoption. As we speak, close to 20-30% of farmers are engaging through the app, creating a digital footprint for better understanding of farmer’s requirements and behaviour.”

Focused to empower the small and marginal farmers by giving them entry to liquid money move, the Integrated platform addressed your complete ecosystem which surrounds them. This consists of lenders, banks enabling loans as small as INR 70,000, native meals processors, and consumers who’re utilizing GrainFinancial institution Buyers cellular app to obtain grains instantly from the farmers anytime in any amount and get the bodily supply inside an hour.

Nearly 50% of the households within the neighborhood of the Ergos GrainFinancial institution location are related by smartphones right now, indicating how out of 140 million farmers within the nation, near 70 million farmers are already utilizing smartphones and simply want a little bit of handholding and help for the primary few transactions.

Aligned with the Government’s imaginative and prescient of Digital India and Bharat Connect which brings the agricultural panorama on the web connectivity map, Ergos goals to empower every farmer and allow them to make use of GrainFinancial institution cellular app to handle their finance; the place they’ll promote, borrow, and protect their grains.

Ergos is continually constructing the tech functionality of the GrainFinancial institution app to execute ~10,000-12,000 transactions initiated by farmers and consumers in “ONE SECOND” which is the velocity required to service 12-13 million farmers within the subsequent 3-4 years for executing secured transactions value of 12,000-14,000 crore for one season crop yield on GrainFinancial institution platform and in addition facilitated value Rs. 4,000-5,000 Crore small tickets brief time period farmer mortgage.



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