Social enterprise, Sistema.bio on 27th May 2019 said it has raised 12 million dollars from the investors, to assist around 2 lakh farmers worldwide, including India in the next 3 years.
The company in a statement said, " DILA CAPITAL, Shell Foundation, Engie RDE Fund, EDFIMC (ElectriFI), Endeavor Catalyst Fund, EcoEnterprise Fund, CoCapital, Alpha Mundi, Lendahand and Triodos are among the investors & creditors participating in the round".
The social enterprise is planning to impact 2 lakh smallholder farmers in India, Mexico, South America and Kenya, with the biodigester technology in the next three years.
To recall, Sistema.bio is a global social enterprise that works with smallholder cultivators to address challenges like food security, climate change and poverty, providing access to ground-breaking biodigester technology, training & financing to make farmers more productive, competent and sustainable.
The enterprise manufactures & distributes high-quality, reasonable biodigesters that enable growers around the world to convert waste into energy & fertiliser.
The company began operations in India in the year 2017 and its headquarters is located in Pune. Sistema.bio, which operates in Maharashtra, Karnataka and Gujarat, has reached more than 300 households and impacted around 1,500 lives in India.
With around 157.35 million hectares of agricultural land, India has the 2nd biggest area of arable land in the entire globe. And this has led to strong interest in agri-tech startups from the venture capitalists (VCs) as well as private equity firms.
In addition, agriculture sector in India contributes around 18% of the country’s Gross Domestic Product, and its impact on the farming population & the Indian economy is noteworthy.
