Small logo Subscribe to leading news on impact investing. Learn More
The Brief Originals Dealflow Signals The Impact Alpha Impact Voices Podcasts Agents of Impact Open
What's Next Measure Better Investing in Racial Equity Beyond Aid Beyond Trade-offs Impact en las Americas New Revivalists Women Rising in India Operation Impact
Smarter Money Women Rising 2030 Finance Locavesting Inclusive Economy Regeneration Impact Tech New Power Geographies
Slack Conference Calls Events Contribute
The Archive ImpactSpace The Accelerator Selection Tool Network Map
About Us FAQ Calendar Pricing and Payment Policy Privacy Policy Terms of Service Agreement Contact Us
Industry News Impact Management Good Business Personal Finance Faith and investing Billionaires
Gender Lens Investing Women Rising in India
SDGs Climate Finance Clean Energy Innovative Finance Full Stack Capital Long-termism
Opportunity Zones Investing in place
Entrepreneurship Return on Inclusion Good Jobs Inclusive Fintech Creative economy Housing New Schooled Well Being People on the Move
Conservation Finance Farmer Finance Financing Fish
Blockchain/AI/IoT Urban Tech Food Tech Inclusive Fintech
Human Rights Democracy and Peace News and Information
Africa Asia Europe Latin America Middle East Oceania/Australia China Canada India United Kingdom United States Growth Markets
Subscribe
Features
Series
Themes
Community
Data
Subscribe Log In
More

With agtech company ULink, Aavishkaar invests with one fund, exits with another



ImpactAlpha, April 3 – Indian impact investor Aavishkaar first backed ULink in 2013. The Pune-based company had developed AgroStar, a telephone hotline to help small farmers secure agricultural inputs like seeds and fertilizer at affordable prices. The company was an early mover in India’s nascent agtech sector.

Aavishkaar made the investment shortly after the company was founded, during its pre-revenue stage, via its early stage Aavishkaar India II fund. The investment firms has since made subsequent investments in ULink, including most recently in the company’s $27 million Series C round, where it participated via its later-stage Bharat Fund.

AgroStar has evolved since 2013. It is online- and app-based. It also now sells agricultural hardware and provides farming advisory services. Today, it supports 175,000 farmers and partners with 200 agricultural suppliers in the states of Maharashtra, Gujarat and Rajasthan.

During the company’s Series C round, Aavishkaar India II exited the company—marking the $94 million fund’s first exit, and Aavishkaar’s 28th exit in total. Aavishkaar disclosed in a statement that the exit yielded a 13.1x return on investment.

As of March last year, Aavishkaar had $800 million in assets under management (AUM) and a goal of reaching $4 billion AUM by 2024, The Times of India reported. A large part of its strategy is focused outside of India. It is currently raising Asia and Africa-focused funds.

For ULink, its latest funding round was backed by Bertelsmann India, Accel, and Chirate Ventures, in addition to Aavishkaar’s Bharat Fund. It is the largest among a recent spate of agtech deals in India that also includes fundraises by online marketplace DeHaat and agriculture sensor makers TartanSense and AgNext.

You might also like...