Agfintech Startup Dvara E-Registry Raises Pre Series A funding from Omnivore and Dvara Holdings
New Delhi:Dvara E-Registry, an agfintech startup, announced today that it has raised a pre Series A round of funding from Omnivore, an India based venture capital firm, and Dvara Holdings, which had incubated the startup as part of its Dvara Venture Studio cohort that supports entrepreneurs working towards large-scale systemic change in financial inclusion.
Set up in 2019, Dvara E-Registry is working towards building a digital platform that enables all stakeholders in the agri-value chain, especially smallholder farmers, access to financial services and agricultural markets. It works with FPOs and farmers to ensure their success by providing access to credit, insurance, input and output markets and extension services via partner institutions, using farm-level data and actionable insights generated using alternate data, remote sensing, GIS and AI technologies. The startup has worked with over 55+ FPOs and impacted the lives of over 25000+ farmers across 8 states.
Commenting on the investment Sanjay Mansabdar, Founder and CEO of Dvara E-Registry, said, “We are delighted to welcome Omnivore as an investor in Dvara E Registry. Our Doordrishti platform, which focuses on Farmers and FPOs, will benefit significantly from this partnership with Omnivore and its Agri focused portfolio companies. This, with Dvara Holding’s deep experience in financial inclusion, will allow us to create an unmatched full-service platform for farmers, FPOs and indeed the entire value chain.”
Samir Shah, Executive Vice-Chair & Group President, Dvara Holdings, commented, “We are delighted to partner with Jinesh, Mark and the entire Omnivore team. As a pioneer and leading investor in the agtech sector, we are looking forward to their deep insights in this sector.”
Jinesh Shah, Managing Partner, Omnivore, on joining Dvara E-Registry, as an investor, said “To empower every stakeholder in the agri value-chain we require an integrated universally accessible platform that informs, creates linkages, and generates productivity for all. Dvara E-Registry is doing just that. We are delighted to support their mission to identify and bridge critical gaps in the agri ecosystem so no farmer should fall through the cracks.”
Doordrishti, the mobile and web-based platform developed by Dvara E Registry, allows farmers, FPOs, and partner institutions to leverage traditional and alternative data to digitise farmer and FPO land and business activity and provide them with farm and crop-specific products and services. KhetScore, an AI-based farm score developed by Dvara E Registry, leverages remotely sensed data from several satellites and enables remote multi-dimensional assessment of both historical and concurrent agricultural activity. Partner financial institutions can leverage KhetScore and Dvara E Registry’s reach via its Krishak Saathis for creating farm credit portfolios that are diversified across borrowers, crops, and geographies, all without the need for physical presence.