Upaya Social Ventures and Beyond Capital Recommit to Investment in FreshR to Further Benefit Smallholder Farmers in India

Follow-on investment to support the extension of FreshR’s microentrepreneur and farmer networks, as well as continue expansion into new region of underserved communities

Bhawanipatna, India (PRWEB) September 2, 2020

Upaya Social Ventures and Beyond Capital are pleased to announce their follow-on investments in FreshR, a burgeoning social enterprise based in Odisha, India. FreshR connects smallholder farmers with underserved markets to increase farmer incomes and enhance consumer access to fresh local meats and fish. FreshR leverages innovative supply chain technologies and retail platforms to create an integrated distribution model, creating India’s first one-stop solution for the fresh meat and fish industry.

FreshR founders Sadananda and Ambika Satapathy started their business in 2016 to improve access to fresh meat retail in Odisha with the goal of combatting the malnutrition and high unemployment rates prevalent in the region. The company builds reliable rural and urban distribution networks that offer smallholder farmers support and greater access to the fresh meat value chain. Their business also proved resilient during the COVID-19 pandemic-related lockdowns in India.

Along with the Eckenstein-Geigy Foundation, this bridge-round follow-on investment will allow FreshR to expand its operations into the cities of Bhubaneswar and Cuttack in eastern India, as well as extend its network from 200 to 850 microentrepreneurs and farmers to generate greater financial and social impact.

“We are excited about the impact FreshR will create by helping microentrepreneurs and smallholder farmers command higher prices in the market and introduce standard operating procedures that will greatly improve the quality of fresh food in their communities,” said Eva Yazhari, CEO of Beyond Capital.

“As we look to the recovery phase of the COVID-19 crisis, the most important thing we can do is to safeguard and grow jobs for the most vulnerable. Upaya is pleased to be bringing innovative revenue-based financing to FreshR to help them grow their business in a way that aligns our interests,” said Kate Cochran, CEO of Upaya Social Ventures.

Since Upaya Social Ventures’ and Beyond Capital’s initial investment in 2019, FreshR has helped poultry farmers increase their incomes by almost $1,500 and microentrepreneurs by almost $4,000 annually. The company has successfully launched its meat mart and executed live fish and iced fish transportation, greatly improving the quality of meat available in the marketplace. The expansion into Bhubaneswar-Cuttack will enable the company to capture a much larger market, beyond its current operations in Bhawanipatna.

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ABOUT UPAYA SOCIAL VENTURES
Upaya Social Ventures is fighting extreme poverty through dignified jobs. Founded in 2011, Upaya provides investment and consulting support to early-stage businesses aimed at creating jobs for the poorest of the poor. Upaya’s continually growing portfolio of impact investments has created over 16,000 lasting, dignified jobs. Endorsed by ImpactMatters as a high-impact, cost-effective nonprofit, Upaya’s teams in Seattle and Bangalore are committed to a goal of helping entrepreneurs create jobs for 50,000 people in India by 2023.

Please visit http://www.upayasv.org for more information.

ABOUT BEYOND CAPITAL
Beyond Capital is an impact investment fund that invests in for-profit social enterprises throughout India and East Africa. The fund invests in businesses that are focused on greater access to health care, water, sanitation, and energy, as well as food security and financial inclusion, which can increase the quality of life for consumers living at the bottom of the economic pyramid. Though the fund seeks market-rate financial returns, Beyond Capital is structured as a nonprofit, which permits the organization to emphasize fidelity to its social mission alongside its financial mandate.

Please visit http://www.beyondcapitalfund.org for more information.

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Originally published on PRWeb.com

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Upaya and Acumen invest in Haqdarshak to Reach Families in Extreme Poverty

We are pleased to announce Upaya’s latest investment in Haqdarshak Empowerment Solutions to connect Indian citizens with government schemes and services through its mobile and web platforms. With a presence in 20 Indian states, Haqdarshak has so far reached over 300k individuals and has helped over 60k people this year with COVID-19 specific relief schemes.

“We were impressed by the traction that Haqdarshak has already shown in reaching poor families to connect them with government schemes that have never been more relevant,” said Upaya CEO, Kate Cochran, in a press release issued by Acumen, the leading investor in the round. “We look forward to working with the team to help them reach even deeper into extreme poverty.”

Haqdarshak relies on a network of entrepreneurs (Haqdarshaks) to transform the way people find out about, apply for, and benefit from welfare schemes, while creating livelihood opportunities for the Haqdarshaks who enable the service. To date, the company has trained over 5,000 Haqdarshaks who have facilitated over 230k applications for government services. Haqdarshak aimes to scale to 10k trained entrepreneurs in the next few years.

For more details, view the press release issued by Acumen at Acumen.org.

Upaya Social Ventures Invests in Indian Confectionery Startup, GO DESi

GO DESi becomes the newest addition to Upaya’s investment portfolio of social enterprises; funds will create employment opportunities for rural women and farmers in India

Seattle, WA – February 25, 2020

Upaya Social Ventures is pleased to announce its latest investment in GO DESi, an Indian confectionery brand specializing in traditional handmade snacks sourced from rural micro-entrepreneurs. GO DESi was founded in 2018 by Vinay Kothari with the goal of bringing authentic regional treats to the masses while creating sustainable employment opportunities in India’s poorest regions.

The confectionery market in India is dominated by large, multi-national chains, from which, Kothari estimates, farmers receive less than 10% of the economic value of their products. GO DESi’s model benefits farmers by eliminating the middle men. All of GO DESi's products are sourced, packaged, and branded at the farm gate with the aim of increasing incomes and job opportunities for marginal farmers and micro-entrepreneurs so they can own a larger, more sustainable share in the food value chain.

"Upaya is very interested in business models that bring value back to the farmers,” Said Kate Cochran, CEO of Upaya. “GoDesi's unique on-farm processing creates jobs where they are needed. We look forward to watching them succeed and hopefully, inspire others to try this kind of business model, generating reliable income for rural families."

Vinay Kothari, GO DESi Founder

GO DESi currently produces six unique products, including its most popular Imli Pop. Each of their wholesome snacks is inspired by regional flavors that appeal to Indian nostalgia.

"During my travels, I have seen amazing products made by farmers from their leftover produce for their own consumption,” says Kothari. “Every region in India has such products... These products were lost in the hinterland, and they are literally begging to be taken to urban markets."

Upaya’s $50,000 investment is part of a Rs 4.5 crore ($596k USD) round of funding led by Rukam Capital. The funds will support the expansion of the company’s network of distribution outlets and women-run micro-units. Kothari expects the company to create employment in rural areas for over 600 people in the next three years through its factories and micro-units and provide additional income for farmers by directly sourcing from them.

"The Upaya team and I were impressed by Vinay and his approach in bring products to market, shown by the traction with Imli Pop” says Amit Antony Alex, Upaya’s India Country Director. “His commitment to continue to source directly from farmers and process products at the farm gate, shows his commitment to creating impact."

GO DESi was one of 11 early-stage agribusinesses that participated in Upaya’s 2018 Accelerator Program. The program is designed to equip social entrepreneurs with the tools to grow their businesses, connect them with professional resources, and provide exposure to potential investors. Upaya is gearing up for its next accelerator program and expects to select 10-12 early-stage enterprises for its fourth cohort in February, 2020.

ABOUT UPAYA SOCIAL VENTURES

Upaya Social Ventures is fighting extreme poverty through dignified jobs. Founded in 2011, Upaya provides investment and consulting support to early-stage businesses aimed at creating jobs for the poorest of the poor. Upaya’s continually growing portfolio of impact investments has created over 14,500 lasting, dignified jobs. Endorsed by ImpactMatters as a high-impact, cost-effective nonprofit, Upaya’s teams in Seattle and Bangalore are committed to a goal of helping entrepreneurs create jobs for 50,000 people in India by 2023. Please visit www.upayasv.org for more information.

MEDIA CONTACT

Heather Targosz
Upaya Social Ventures
hsoehn@upayasv.org