An agtech commence-up incubated at T-Hub is making an attempt to handle a exclusive issue that farmers in the country deal with – very little or no benefit-addition to the commodities that they provide, ensuing in very poor incomes.
Our Food, which is closing the financial year 2020-21 with a turnover of ₹85 crore, has processed 10,000 tonnes of foodgrains.
The commence-up is relying on low-charge, modest gear for the processing of foodgrains in buy to maintain the charge overheads beneath regulate. It identifies progressive farmers with modest holdings in villages and allows them get bank financial loans to set up the village-stage franchises.
“Each of the unit would need to have an investment decision of ₹7 lakh, which include ₹3 lakh from the rural entrepreneurs. We aid them protected a bank loan, moreover investing in them in fairness,” Balareddy, Founder and Main Government Officer of Our Food, informed BusinessLine.
It has so far set up one,000 these processing units in nine States. “Each unit can process up to 400 kg of grains or other agri commodities,” he said. The firm will also handhold the farmers to provide their make to possibly bulk customers or to provide it by way of the company’s brand.
On Friday, the agency entered into an agreement with the Government of Telangana to set up around 20,000 micro processing units in various components of the Point out with an investment decision of ₹1,five hundred crore. The commence-up has a facility to manufacture processing gear at Zaheerabad.