The Mahratta Chamber of Commerce, Industries and Agriculture (MCCIA) has announced that it has partnered with Indian cricketer Ajinkya Rahane and his associates to fund several startups that are developing tech-based solutions for agriculture. The MCCIA hopes to finish funding one such startup by the end of the year.
The startups to be funded by Rahane will be curated by MCCIA which comprises legal, finance, technology, and agriculture domain experts.
The announcement was made by more than 50 agri-tech startup founders at MCCIA in the presence of Ajinkya Rahane, Deepak Karandikar (MCCIA President), Prashant Girbane (Director General), and Vikram Sathaye (cricket humorist).
At least three other investments would be made by the end of March 2023, and the first seed investment would be made by the end of December 2022.
Three more individuals, in addition to Ajinkya, have expressed interest in investing in the fund, according to the MCCIA team.
Rahane told the media that "Farmers are our heroes, and I've always wanted to help them become financially independent. Even though I had previously invested, I was searching for a more formalized and structured way to support agri-tech startups. Even if the funding is in the form of equity, I am not looking for financial returns; instead, I desire a more significant direct financial benefit for farmers."
Overall, we are aiming to exhaust the seed capital put up right now by November 2023,” said MCCIA director-general Prashant Girbane.
About Mahratta Chamber of Commerce, Industries and Agriculture (MCCIA)
One of the few Indian Chambers of Commerce that was founded prior to the country's independence, when industrial development was not yet known, is MCCIA.
The aim of MCCIA is to transform lives and create a sustainable, biodiverse environment that will promote and encourage the development of infrastructure and education while serving as the country's hub for technological and industrial research, development, and growth.
