Ergos: redefining storage infrastructure and market access for small farmers in India

What is it about?

The case discusses how the founders of Ergos, an India-based leading digital aggregator in the AgriTech space, Kishor Kumar Jha and Praveen Kumar, started one of the most unique models in the AgriTech landscape in India. After witnessing the grim condition of small and marginal farmers in Bihar, India. Kishor and Praveen decided to put their corporate experiences to use in the farming sector. Subsequently, the duo founded Ergos in 2012 with the aim of empowering farmers with doorstep access to end-to-end post-harvest supply chain solutions by leveraging a robust technology platform. Over the years, the startup raised funds from Aavishkaar Capital, Chiratae ventures, and the CDC group. In 2022, Ergos launched the Grain food processors, wholesalers, and exporters) on board as of 2022. Ergos faced many challenges in its journey related to financing, marketing, and distribution. The startup aimed to further expand their footprint to 650 locations with revenue growth of up to US$12.23 million by 2023-24. With this development, it remained bank platform which enabled farmers to convert their grains into tradable digital assets, avail credit against those assets through partner NBFCs and Banks, and get better prices for their produce. They operated at around 250 locations, with 150,000 farmers and 1,100 buyers (including to be seen how Kishor and Praveen would be able to scale their startup services all over India and realize their goal to serve farmers across India by 2025. Further would Kishor and Praveen be able to create a sustainable income for farmers through its GrainBank Platform in India?

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