Bharat Krushi Seva’s app-based platform provides crop advisory and market connectivity to improve livelihoods and incomes for farmers in India
Seattle, WA – October 27, 2022
Upaya Social Ventures (Upaya) today announced its latest investment in Bharat Krushi Seva, an agritech startup based in Pune, Maharashtra. The enterprise provides digital services and advice to farmers to help increase their profits and improve their livelihoods.
Bharat Krushi Seva co-founders Hemant Dhole Patil and Sharayu Lande
Bharat Krushi Seva was founded in 2021 by co-founders Sharayu Lande, CEO, and Hemant Dhole Patil, COO, with a mission to drive mass adoption of digital-enabled agriculture. They aim to solve inefficiencies in the agricultural sector through technology and thus help farmers improve their profits. Farmers often struggle due to a lack of adequate information around crop and input selection, market demand and pricing. Bharat Krushi Seva is adding value for the farmers by making this information data-driven and easily accessible and ensuring better realization for farmers’ produce.
“Despite their crucial role in feeding the world, most smallholder farmers are desperately poor and deeply vulnerable to the changes that are affecting our climate. Upaya is excited to partner with Barat Krushi Seva to give farmers the information and tools they need to increase productivity In an increasingly challenging environment.” Kate Cochran, Upaya CEO said.
Bharat Krushi Seva has provided crop advisory to 10,000 farmers through integrated satellite technologies and holds strong linkage partnerships with buyers and suppliers. The business currently operates in Pune, Nagar , Solapur and Vidharbha with plans to expand to Karnataka and Madhya Pradesh.
The investment from Upaya marks Bharat Krushi Seva’s first institutional investment and is part of a round of funding intended to support team expansion, marketing, and technology development. Along with funding, Upaya will provide the startup with strategic business advisory and impact management support.
Sharayu expressed excitement about working with Upaya’s Impact Measurement and Management team to further the business’s mission: "Upaya is an impact-first investor, and we believe that associating with their focus on impact on the livelihoods at the grassroots level will help in our mission of driving mass adoption of digital agriculture even at the grassroots level. This will help farmers to make more informed decisions and will make their lives easier and self-dependent."
Sharayu and Hemant both belong to farmer families, with both holding ten years of professional experience in the tech industry. They grew up observing common struggles faced by their own families and sought to make the lives of farmers easier and more self-sufficient through their business. So far, Bharat Krushi Seva has received an Indian Achievers Award for “Promising Start-Up in Agritech Space,” and has been incubated by Startup Chaupal and Pusa Krishi, in addition to having completed the 2022 Upaya and Yunus Social Business Accelerator.
“BKS technology platform and its offerings are a great enabler to practice precision farming in small farms,” said Upaya’s India Country Director, AB Chakravarthy. “This would help overcome technology adoption and cost barriers that exist globally. We are excited by the prospect of the BKS team driving mass adoption of precision farming among small farmers. This will help farmers to cut down costs on inputs and improve productivity raising their income.”
The investment into Bharat Krushi Seva is Upaya’s 32nd impact investment in India. Bharat Krushi Seva completed Upaya’s highly regarded accelerator program in July 2022 and is the second company from the 2022 cohort to receive investment from Upaya. Upaya’s investment criteria is aimed at identifying impact-driven businesses that are likely to create 1,000 dignified jobs for people living in extreme poverty within 7 years of investment. Upaya is currently reviewing applications for its next accelerator program which will be run in partnership with Yunus Social Business in 2023.
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 27,000 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 2025. Please visit www.upayasv.org for more information.
CONTACT
Meg Massey
Director of Strategic Outreach
mmassey@upayasv.org
