Chennai-based agriculture finance company Samunnati raised $4.5 million from Accel Partners, Elevar Equity and others. The company provides credit, loans, and other financial products to small and micro-agribusinesses, which have difficulty accessing services from banks. Samunnati looks at “cash flow patterns, seasonality and the nature of collateral in [agriculture] supply chains” and other nontraditional risk indicators.
Women Rising The Strauss Group will increase its purchases from women coffee growers. The Israeli company — the fifth largest green coffee buyer worldwide — is partnering with women’s coffee cooperatives in Honduras, the Democratic Republic of Congo, and Vietnam. Coffee is a $100 billion market worldwide and women are responsible for 70 percent of growing and harvesting. But women represent
DBL Partners and GV have led a $40 million financing round for Farmers Business Network. FBN launched in 2014 as a data platform to “democratize” farming supply pricing information in a sector that profits off of farmer loyalty and opaque pricing. The network lets members compare costs for farm inputs like fertilizers and seeds. It also provides
Agtech Accelerator has led a $10 million financing round for Boragen. The first venture out of the Raleigh, N.C. accelerator makes “synthetic fungicides” that combat the pest resistance in existing fungicides. The boron-based technology was originally developed for healthcare applications. The Raleigh, N.C. accelerator led the Series A round with $3 million and helped raise $7
Converting non-organic farmland to organic is hard and many farmers fail. Food and farmland investor Iroquois Valley Farms is issuing $5 million in short-term notes, with an interest rate of 1.5 percent, to help farmers make the changeover to USDA Certified Organic. The three-year term of the Soil Restoration Notes matches the organic transition period required
Rwanda’s Kigali Farms has secured a loan from AgDevCo to support mushroom farmers. The agribusiness sells mushroom growing kits to more than 1,700 smallholder farmers and buys back some of the harvest at a guaranteed price. The $450,000 loan from the UK-government-backed AgDevCo will help the company meet strong mushroom demand from retailers, hotels and
Vegan dairy producer Miyoko’s Kitchen has raised a Series B round backed by private equity fund JMK Consumer Growth Partners, Obvious Ventures and Stray Dog Capital. The company was founded in 2014 and sells “cheese” and “butter” products in grocery stores across the U.S. Driven by concerns about obesity and diabetes (and by Instagram), the market for