Omnivore, India’s main agritech enterprise capital agency, introduced right now the launch of its third fund, with a goal corpus of USD 130 million (INR 1000 crore). The new fund will proceed to put money into early-stage startups creating breakthrough applied sciences for agriculture, meals, local weather, and the agricultural economic system. Omnivore typically invests in Seed, Pre-Series A, and Series A rounds, with follow-on capital for future development.
Originally based by Jinesh Shah and Mark Kahn in 2010, Omnivore pioneered agritech investing in India, and over the previous decade has backed over 35 startups that are making farming extra worthwhile, resilient, sustainable, and climate-proof. Omnivore is focusing on a primary shut of the brand new fund by September 2022 and a remaining shut by June 2023. With this new fund, Omnivore expects to make 25 to 30 new investments over the subsequent 4 years, persevering with to fund entrepreneurs constructing the way forward for Indian agriculture and meals techniques.
Omnivore Fund 3 may have a sharper give attention to catalyzing local weather motion in agriculture, backing startups addressing each local weather mitigation (decreasing India’s GHG emissions) and local weather adaptation/resilience (securing a future for India’s farmers). Along these traces, earlier this 12 months, Omnivore launched the OmniX Bio initiative to supply extra assist to agrifood life science startups, initially focusing on the fields of agricultural biotechnology, novel farming techniques, bioenergy and biomaterials, in addition to modern meals, together with different protein. With the brand new fund, Omnivore goals to deepen the attain and affect of OmniX Bio, and assist reboot the agrifood life sciences ecosystem in India.
Mark Kahn, Managing Partner of Omnivore, said, “For over a decade now, we have been a part of the evolution of the agritech ecosystem in India. Through Omnivore’s investments, we have touched the lives of almost 7 million smallholder farmers, improving their profitability and resilience, while creating value for our investors. We believe agritech is just getting started, and we look forward to supporting a new generation of entrepreneurs building a future for rural India.”
Omnivore at the moment manages INR 936 crore throughout two funds, the latest having closed in April 2019. Some of Omnivore’s main portfolio corporations embody DeHaat, Arya, Reshamandi, Stellapps, AgNext, Bijak, Ecozen, AGRIM, Eruvaka, Pixxel, and Animall. Omnivore’s funding method is aligned with 9 of the 17 UN Sustainable Development Goals (SDG), and the agency is a signatory of each the UN Principles for Responsible Investment (PRI) and the Operating Principles for Impact Management (OPIM).
Omnivore is a enterprise capital agency, primarily based in India, which funds entrepreneurs constructing the way forward for agriculture and meals techniques.