March 30, 2015

Venture capital firm, Aspada, has invested approximately US$3.2 million into Mumbai-based InI Farms Pvt Ltd, a fresh fruit supply chain facilitating company focused on the pomegranate and banana segments. InI provides farm extension services and post-harvest management and processing for farmers producing fresh fruit for both domestic consumption and for export to overseas markets.

InI Farms exports bananas and pomegranates to 19 countries across the Middle East, Europe, and Southeast Asia. The value chain operating firm plans to use the funds to support its goals of expanding into the states of Maharashtra, Madhya Pradesh, and Gujarat while also expanding its ability to connect more farmers with markets through increasing its farm extension services and processing capacity.

This is the third investment in an agricultural product or services company for Bangalore-based Aspada, which is backed by the Soros Economic Development Fund (SEDF). In 2013 they invested in Lawarencedale Agroprocessing India – a fresh vegetable supply chain company, and in October 2014 they invested in Allfresh Supply Management Pvt Ltd, a Delhi-based fresh fruit supply company.

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